- Coverage features include data breach notification and credit monitoring or identity monitoring services for up to 100,000 affected individuals, with separate coverage limits for third party claims
- Breach response coverage includes forensic and legal assistance, notification costs, credit monitoring services for each person notified, loss prevention services and identity theft-related fraud resolution services
- Crisis management sublimit for public relations and extraordinary notification expenses
- Low per-incident retentions
- Policy also provides a separate $1 million limit of liability for privacy, network security and media claims; enhancements are available for first party and other exposures
Get Experience on your Side
In managing a data breach, it’s your reputation that’s on the line. It’s smart to have a partner who’s been there. Things happen too quickly; there’s too much to learn. Beazley Breach Response pioneered the concept of data breach insurance that focuses first and foremost on response. Beazley coordinates the IT experts and specialized lawyers to help you establish what’s been compromised; assess your responsibility; and notify those you have to. In addition, they coordinate credit or identity monitoring for your customers and PR advice to help you safeguard your reputation. Beazley also indemnifies your losses from lawsuits or regulatory actions. To date, Beazley has helped more than 2,000 clients manage data breaches swiftly and successfully – more than anyone else. They can’t guarantee your cyber security: no one can. But they can put you in control of your response.
Contact your State Association for more information, or contact Bailey Special Risks to obtain a quote. Rates are affordable and backed by a Best “A” Rated insurance underwriter, with 25 years of experience and licensed in all 50 states.
A Dedicated Team of Experts
Beazley is unique among insurers in having a dedicated business unit, BBR Services, that focuses exclusively on helping clients manage data breaches successfully. A thicket of state and federal regulations governs how and when customers must be notified after a breach has occurred, and the risk of reputational damage from a mishandled breach is high. The BBR Services team focuses on the coordination of the expert forensic, legal, notification and credit monitoring services that utilities need to satisfy all legal requirements and maintain customer confidence. In addition to coordinating data breach response, BBR Services is responsible for maintaining and developing Beazley’s suite of risk management services, designed to minimize the risk of a data breach occurring.