Insurer Beazley Launches Cyber and Financial Lines Insurance in Colombia

July 22, 2020

Specialist insurer Beazley has launched a suite of cyber and financial lines insurance products to protect against the risks facing businesses and senior executives in Colombia.

Beazley has tailored an information security and privacy (InfoSec) policy that protects against a wide range of cyber and data security risks affecting 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 offering an extensive 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 for asset managers; and professional liability and crime cover for financial institutions.

The launch of Beazley’s information security & cyber and financial lines products will strengthen Beazley’s existing offering in Colombia, which includes jewellers block, fine art & specie, terrorism, property catastrophe, property risk and surety.

“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,” commented Gerard Bloom, head of international specialty lines.

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.”

Source: Beazley plc

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