Beazley launches cyber and financial lines insurance in Colombia

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's information security and privacy (InfoSec) policy is designed to protect 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, policy will cover the 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 rolling out 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.

The launch of 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.

Gerard Bloom, head of international specialty lines, added: “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.”