In a step towards fortifying its cyber insurance offerings, Beazley, a premier specialty insurer, has announced the integration of its in-house Cyber Services team with Lodestone, a fully owned cybersecurity firm. Beazley Security is the new name, effective immediately. This new venture aims to significantly enhance cyber resilience for its clients. All by melding the expertise of Beazley’s cyber insurance capabilities with Lodestone’s advanced technical cybersecurity services. Alton Kizziah, the CEO of Lodestone, will lead Beazley Security. He will report to Paul Bantick, Beazley’s Global Head of Cyber Risks.
Beazley Security will offer an integrated suite of services. They will encompass the risk management aspects of Beazley’s cyber insurance policies and Lodestone’s technical cybersecurity solutions. Beazley Security is also rolling out a managed eXtended Detection and Response (mXDR) system. This system promises 24/7 monitoring and rapid containment of cyber threats.
“Game-Changer”
Paul Bantick expressed optimism about the merger. He emphasized the accelerated pace of cyber risks and the strategic importance of combining insurance and technical expertise to combat these challenges. “This merger is a game-changer in how we approach cyber threats, bringing together leading experts in both insurance and cybersecurity to offer unparalleled protection for our clients,” Bantick noted.
Alton Kizziah, now at the forefront of Beazley Security, highlighted the mission to build robust cyber resilience among businesses. “As cyber threats become more complex, the creation of Beazley Security marks a crucial step in providing businesses with the comprehensive defenses they need to navigate the digital era securely,” Kizziah remarked. He underlined the company’s dedication to delivering cutting-edge cyber protections that instill clients’ confidence and peace of mind.
This move by Beazley expands its cyber liability insurance capabilities. It also positions Beazley Security as a formidable entity in the fight against cyber threats.
Source: Beazley expands focus on cyber security services with creation of Beazley Security