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Newly formed digital business unit to lead transformative tech-led strategy for Beazley
Beazley GroupFebruary 26, 2021 GMT
London, Feb. 26, 2021 (GLOBE NEWSWIRE) Specialist insurer Beazley has unveiled a new digital business unit to spearhead a transformative approach to how the company develops, underwrites and delivers seamless, intuitive digital insurance solutions for clients and brokers.
Existing digital initiatives and platforms created to further Beazley’s digital capabilities will now be led by a multi-disciplinary team headed up by Ian Fantozzi that will build on Beazley’s strong foundations in e-trading. This will include enhancing the capabilities and reach of online platform myBeazley as both broker expectations for frictionless trading, and Beazley’s suite of specialist products that can be efficiently traded digitally, continue to grow.
Beazley Breach Insight: Ransomware severity and costs increase in 2020
Beazley Breach Insight: Ransomware severity and costs increase in 2020
New York, Dec. 16, 2020 Specialist insurer Beazley has reported that ransomware attacks increased in terms of both severity and costs this year compared to 2019 and have become the biggest cyber threat facing organizations.
According to the latest Beazley Breach Insights report, published today, the total cost of ransom payments doubled year-on-year through the first six months of 2020, based on incidents reported to Beazley’s in-house breach response team, BBR Services.
The nature of ransomware attacks has also markedly changed in 2020. Today’s ransomware incidents are more likely to include a threat to release stolen data versus encryption alone. Threat actors increasingly have prior access to a network before deploying their attack, during which time they are working to escalate their privileges, move laterally through the network,