Beazley enhances cyber and mediatech insurance offering in Canada
Specialist insurer Beazley has enhanced its Beazley Breach Response (BBR) and media & technology (mediatech) policies for businesses in Canada.
The insurer has streamlined the policy wordings to ensure clarity for brokers and customers, and offer complete protection to small to medium-sized businesses against cyber risks.
As part of the initiative, cyber extortion, business interruption (BI), dependent business interruption and eCrime coverages have been integrated into the main policy, rather than being added by endorsement.
Beazley said mediatech is designed to provide comprehensive errors and omissions (E&O) insurance to cover technology-based services and products, non-technology professional services, unintended breach of contract for professional liability exposure, online and offline media, copyright or trademark infringement. Cyber coverage has also been incorporated into the policy and includes breach response costs, first and third party coverage as well as eCrime.
Alessandro Lezzi, head of international cyber & tech at Beazley, said: “To support Canadian businesses during today’s environment of heightened cyber and security risks and increasing litigiousness, Beazley’s BBR and MediaTech policies are designed to provide 360 degree protection through streamlined, easy to interpret wordings. The increasingly complex risk landscape requires clear coverage that will protect businesses on many fronts and support them with great service and responsiveness should they experience a loss.”
Rhea Turchinetz, cyber & tech underwriter and head of Beazley’s Vancouver office, added: “Canadian businesses face a growing cyber threat that is always evolving as we have seen during this pandemic. More of us logging onto work IT networks remotely has created additional security issues that employers and their workforce need to be alert to. BBR and MediaTech are designed to help companies to build their resilience against these threats as well as provide protection and financial support in the event of a claim.”
