Beazley has launched an online incident response platform for US cyber policyholders.
The firm said that the platform will serve as a central location to monitor and manage incidents, and centralize communications between the policyholder, Beazley, and specialist service providers.
Raf Sanchez, head of cyber services at Beazley, said: “As the cyber risk landscape continues to evolve at pace, we continue to address these new and increased risks with changes to our service offering. This latest innovation will be an important tool for our policyholders to defend against cybercrime: providing enhanced cohesion, visibility and efficacity and therefore minimizing the impact of cyber-attacks.”
According to the firm, the service will be rolled out in Europe and the rest of the world in the near future.
Paul Bantick, global head of cyber risks at Beazley, added: “The introduction of our incident rooms provides our policyholders with further peace of mind that a cyber incident will be dealt with in the most efficient and secure way possible. Today’s launch further demonstrates our core objective of continually innovating to improve our customer experience, and evolving and expanding our cyber ecosystem.”
The firm said it had launched the platform when cyber attacks had risen for the third year in a row. This underlines announcements by Sanchez made in January when he said that the cyber insurance landscape was likely to increase over 2022.
Back then, Sanchez said: “Whilst many organisations know to expect short-term technical and operational impacts, we find they are often un-prepared for the longer lasting impact on their reputation.”
Back then, Sanchez predicted that the cyber-criminal landscape would continue to develop over the coming year as the tactics currently being implemented are so effective at generating financial rewards that they are only likely to increase in frequency, innovation and efficacy.