Beazley's Cyber Defence for Marine cover named Emerging Risk Solution of the Year
Beazley is proud to have won Emerging Risk Solution of the Year for its Cyber Defence for Marine cover at the...
Beazley is proud to have won Emerging Risk Solution of the Year for its Cyber Defence for Marine cover at the European Risk Management Awards.
The award was revealed during a virtual ceremony organised by Commercial Risk Europe and the Federation of European Risk Management Associations on 11 December.
Beazley Cyber Defence for Marine is an innovative affirmative cyber product that provides indemnity and risk management for vessel owners and operators. Launched in May 2019, it covers physical damage and loss of hire if a vessel’s operational capabilities are impacted by a cyber event.
The award judges commented of the cover: “This is an interesting and niche innovation. The application of modern technological innovation in cyber risk in marine insurance is beyond the traditional scope of cyber risk in other business lines.”