Reinsurance News

Beazley launches cyber, financial lines offering in Colombia

21st July 2020 - Author: Charlie Wood

Specialist insurer Beazley has launched a suite of cyber and financial lines insurance products aimed at protecting businesses and senior executives in Colombia.

Beazley, insurance reinsuranceThe information security and privacy (InfoSec) policy protects against a range of cyber and data security risks impacting Colombia-based businesses.

The core policy provides first and third party protection and e-crime cover as well as costs for managing a data breach.

In the event of a cyber incident, Beazley’s InfoSec insurance policy will help mitigate the impact on the policyholder by covering costs associated with legal, forensic and notification services, call centre services, fraud or loss prevention, as well as PR and crisis management support.

Beazley is also introducing its set of financial lines insurance policies that protect businesses against complex risks in an increasingly litigious environment.

The covers include directors’ & officers’ liability (D&O); D&O and professional liability specifically for asset managers; and professional liability and crime cover for financial institutions.

Gerard Bloom, head of international specialty lines, said, “Our range of financial lines policies provides extensive liability cover and reassurance to businesses and their directors that they are protected against evolving financial risks in an incredibly challenging risk environment.

“The strength of our offering is grounded in our deep expertise in managing these risks and through strong collaborations with insurance partners in Colombia we can now provide a specialist suite of policies that will be there for businesses in their hour of need.”

Alessandro Lezzi, head of international cyber & technology at Beazley, said, “For all businesses today, the risk of a cyber attack is a very real prospect that could not only lead to their own or client data being locked down or lost but could threaten their ability to operate as normal.

“Our cyber team has worked with tens of thousands of clients globally and we are very pleased to bring our experience and knowledge to the Colombian marketplace to reduce the impact and the loss to the client and potentially their customers too.”

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