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Beazley confirms affirmative AI cyber cover
Beazley, the leading specialty insurer, today confirmed affirmative AI cover in its cyber and tech E&O policies. As businesses adopt AI at pace and cyber criminals increasingly use it to magnify the scale and speed of their attacks, Beazley’s affirmative AI wording delivers certainty and clarity for clients by expressly addressing AI-related risks already covered within existing cyber cover.
Alessandro Lezzi, Group Head of Cyber Risks at Beazley, said: “This endorsement makes it clear to our clients that in the event of a cyber attack, AI-driven or otherwise, they are protected. There is widespread uncertainty about the future of AI and its impact on business, both constructive and destructive. Insurance policies should not add to this uncertainty.
“AI has become intrinsically linked to cybersecurity from both an offensive and defensive perspective, so as an ongoing risk partner to business, we continue to evolve our solutions. It’s yet another example of how our Full Spectrum cyber cover continuously pre-empts, adapts and responds to rapidly emerging risks.”
The product is available on an admitted basis in some but not all US jurisdictions, through licensed insurance brokers underwritten by Beazley Insurance Company, Inc., and is available on a surplus lines basis, through licensed surplus lines insurance brokers underwritten by either Beazley Excess and Surplus Insurance, Inc. or Beazley-managed syndicates at Lloyd’s. The exact coverage afforded by the product described herein 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. Beazley USA Services, Inc. is licensed and regulated by insurance regulatory authorities in the respective states of the US and transacts business in the State of California as Beazley Insurance Services (License#: 0G55497).
The information set forth in this communication is intended as general risk management information. It is made available with the understanding that Beazley does not render legal services or advice. It should not be construed or relied upon as legal advice and is not intended as a substitute for consultation with counsel. Beazley has not examined and/ or had access to any particular circumstances, needs, contracts and/or operations of any party having access to this communication. There may be specific issues under applicable law, or related to the particular circumstances of your contracts or operations, for which you may wish the assistance of counsel. Although reasonable care has been taken in preparing the information set forth in this communication, Beazley accepts no responsibility for any errors it may contain or for any losses allegedly attributable to this information. Marketing ID: BZCP156