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Beazley, Munich Re unit form cyberinsurance JV

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Beazley, Munich Re unit form cyberinsurance JV

BeazleyPlc and MunichRe's Corporate Insurance Partner unit said April 11 that theyformed a partnership to offer enterprisewide cyber protection for the digitalassets and IT infrastructure of major companies worldwide.

The firms said coverage options were developed in closecollaboration with a number of large companies and their brokers. Based on the individualneeds of clients, coverage can be tailored to include elements for risks suchas hacking or malware attacks, distributed denial of service attacks, cyberextortion or ransomware attacks, as well as property damage and bodily injuryexposures deriving from malicious cyber attacks.

The collaboration will provide up to $100 million or €100million of protection.