Specialist insurer Beazley has incorporated cyber coverage into its MediaTech insurance policy as it looks to protect businesses against new and evolving forms of risk.
The Beazley MediaTech policy has been streamlined to provide clear and concise wording and seamless protection, says Beazley, combining errors and omissions (E&O) and media liability insurance with cyber coverage.
The cyber coverage which has been incorporated into the policy includes breach response costs; first-party coverage for cyber extortion; data recovery costs; business interruption and dependent business interruption resulting from security breaches and system failures; and
e-crime coverage for fraudulent instruction fraud, funds transfer fraud and telephone fraud.
Bob Wice, Beazley’s head of US cyber & tech, said: “Beazley MediaTech has been designed to protect firms that are at the cutting edge of using and developing new technology in exciting and often experimental ways. We’ve enhanced our offering to ensure it keeps pace with the evolving risk landscape.”
“Our policy is underpinned by a market-leading claims service, provided by our cyber & tech claims team, which understands the liabilities technology companies face and will provide first-class support in the event of a loss.”
