Information Security & Privacy and Beazley Breach Response

Beazley’s Information Security and Privacy Insurance provides a variety of industry-leading coverages for emerging data security and privacy exposures facing companies today.

 

Beazley recently launched Beazley Breach Response, a unique insurance, loss control and risk mitigation service tailored to the needs of US healthcare, higher education, and retail and hospitality organisations.  For all other industries we offer market-leading information security and privacy coverage for third party exposures.

 

Our new videos provide detailed information on the data security risks faced by healthcare organisations, physicians, and retailers; and how each group can benefit from Beazley Breach Response.

 

                           

 

   Healthcare video                  Physicians' video                   Retailers' video

 

Beazley Breach Response 

The policy consists of four insuring agreements:

 

Privacy Breach Response Services

• Each policy provides notification in compliance with breach notice laws for up to two million persons.
• Pays costs of computer security expert services to determine how the breach occurred and the extent of lost or stolen information; as well as attorneys' fees to ensure compliance with breach notification laws with $250,000 sublimit.
• 3-bureau credit monitoring by TransUnion Interactive offered to each person notified.
• Low retentions: $10,000 to $20,000 for expert services, attorneys' fees and notification costs, and between 100 and 250 individuals for credit monitoring services.
• Free loss prevention information service.

 

Information Security & Privacy

• Third party coverage in response to theft, loss or unauthorised disclosure of personally identifiable information.
• Coverage for unauthorised access, theft of or destruction of data, denial of service attacks and virus transmission involving the insured's computer systems resulting from computer security breaches.
• Coverage for failure to comply with the insured's own privacy policies.
• Coverage for failure to administer an identity theft prevention programme required by law or to take steps to prevent phishing or identity theft.
• Third party liability limits of up to US $10 million.

 

Regulatory Defence and Penalties

• Coverage for costs associated with response to a regulatory proceeding resulting from an alleged violation of privacy law causing a security breach.

 

Website Media Content Liability

• Coverage for personal injury, and trademark and copyright claims arising out of electronic content displayed on the insured's website.

 

Limits available

Up to US $10,000,000 and Breach Response Services coverage for up to two million notified persons.

 

Target market

• U.S. healthcare organisations (including hospitals, doctors’ groups and health insurers) and higher educational institutions with revenues of more than US $50 million
• U.S. retail and hospitality companies with revenues of between US $50 million and US $3 billion

 

Key territories

Worldwide

 

To access the Beazley Breach Response factsheets, please click here. 

 

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Information Security & Privacy

The policy provides coverage for:

 

Privacy Liability

• Coverage for theft of personally identifiable non-public information in computer data and hard copy form and liability arising from failure to comply with state breach-notice laws; and
• Coverage for failure to comply with the insured’s privacy policies.

 

Computer Information Security

Third party coverage in response to unauthorized access, theft of or destruction of data, denial of service attacks and virus transmission involving the insured’s computer systems resulting from computer security breaches.

 

Electronic Media Liability

• Covers display of electronic content on the insured’s website; and
• Extends to many internet-related exposures including advertising injuries that are not covered under many of today’s general liability policies.

 

First party coverage for losses from network security breaches

Optional coverage endorsment available for destruction and loss of data as well as network business interruption and cyber extortion caused by failures of computer security to prevent a security breach.

 

Target market

Retail

Healthcare

Financial Institutions

 

Key territories

Worldwide

 

Coverage may not be available in all jurisdictions and in the US only on a surplus lines basis through licensed surplus lines brokers doing business with Beazley’s Lloyd’s of London syndicates.

 

The descriptions contained in these pages are for preliminary informational purposes only. Coverages will vary depending on individual state law requirements and may be unavailable in some states. The exact coverage afforded by the products described on this website is subject to and governed by the terms and conditions of each policy issued.  The publication and delivery of the information contained herein is not intended as a solicitation for the purchase of insurance on any US risk.