Beazley strengthens cyber proposition with new risk management firm

Beazley strengthens cyber proposition with new risk management firm | Insurance Business America

Cyber

Beazley strengthens cyber proposition with new risk management firm

Internal merger brings together risk services and technical cyber expertise

Beazley has announced the merger of its internal cyber services team with Lodestone, its fully-owned cybersecurity firm, to form Beazley Security.

Beazley Security is set to combine the risk management services offered through Beazley’s cyber insurance policies with the technical cybersecurity services of Lodestone. This integrated approach also aims to enhance cyber preparedness and response for clients, incorporating new initiatives such as a managed Extended Detection and Response (mXDR) solution. This solution will facilitate constant monitoring, enabling swift identification and mitigation of cyber threats.

This new entity aims to provide a comprehensive cyber risk management solution and will be under the leadership of Alton Kizziah, the current CEO of Lodestone. Kizziah will report directly to Paul Bantick, Beazley’s global head of cyber risks.

“Building cyber resilience is top of mind for business leaders and Beazley Security has been created to bring responsive cyber protections to the heart of the fight against ever-evolving threats. I’m excited to lead an outstanding team of specialists committed to providing clients with confidence and peace of mind,” Kizziah said.

“We live in an era of accelerating cyber risk and by combining these two experts in cyber security and insurance, we are creating a force capable of addressing the challenges head on,” Bantick said. “I am looking forward to working with Alton and the team to support our clients in an ever more seamless and effective way.”

This strategic move by Beazley to integrate its cybersecurity and insurance capabilities under Beazley Security is aimed at bolstering its position in the market by offering a robust defense against the growing cyber threats faced by businesses today.

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