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Data Breach Combined with Crime and Professional Indemnity Cover

Data Breach Combined with Crime and Professional Indemnity Cover

Innovative package that combines data breach with crime and professional indemnity cover.

What we offer

Our coverage features a range of services designed to mitigate the reputational damage and the risk of legal action being brought against financial institutions:

Forensic investigation services to assess the cause, gravity and extent of a data incident
Breach notification and call centre services for third parties, lessening the administrative burden of the breach
Legal advice and support to assess the legal ramifications of the breach and the actions required to mitigate them
Public relations and crisis management specialists to handle the crisis response plan and communications strategy.

How can we help

The negative publicity resulting from a data breach can lead to massive reputational and brand damage. However an effective response can be complex and challenging. Therefore as well as providing cover for financial liability, our coverage features a range of services designed to mitigate the reputational damage and the risk of legal action being brought against financial institutions.

The Beazley Difference

Integrated risk protection package that combines several coverages in just one policy
Affirmative coverage for claims made against an insured which results in bodily injury
Deep product knowledge since we pioneered Virtual Care in 2009
Knowledgeable Underwriters, Wordings Lawyers, and Claims Managers with expertise in all key areas of coverage
Dedicated Beazley Breach Response Services, including breach response management, information security insurance solutions, and risk management services

Examples or Scenarios

A financial institution insured discovered an instance of fraudulent payments of several million GBP, by an employee, for his own benefit. Beazley’s claims team worked with the insured to investigate the fraud and confirmed the availability of coverage under the Financial Institution Crime insurance policy.