Beazley expands Singapore cyber & technology capabilities

Beazley expands Singapore cyber & technology capabilities | Insurance Business

Beazley expands Singapore cyber & technology capabilities

Beazley has appointed Teck Siong Ng (pictured) as its first dedicated Singapore-based cyber & technology underwriter, reflecting its increased focus on risks across the Asia-Pacific region.

According to a statement from the specialist insurer, Ng joined Beazley in 2015 as a specialty lines underwriter, covering a range of risks including professional indemnity, directors & officers liability, healthcare, commercial crime and cyber. He also managed business development across Beazley’s specialty lines in the region.

Prior to joining Beazley, Ng spent 10 years in underwriting roles, most recently at Asia Capital Re, where he was business development team leader for Southeast Asia and India within the casualty & financial lines facultative team.

“In his new role Teck Siong brings added focus to our ambitions to build out our cyber offering as we expand our regional footprint,” said Lucien Mounier, Beazley’s Asia-Pacific head. “This is another well-deserved promotion at a time when we are actively developing and recruiting talent into our team across multiple lines of business.”

Beazley also announced the launch of a new information & security (InfoSec) policy form for cyber clients in Asia-Pacific. According to the company, the policy form has been streamlined and is in line with its thrust towards providing simpler, user-friendly policies.

First-party covers, such as cyber extortion, data recovery costs, business interruption and contingent business interruption, are now integrated into the main policy form rather than being added by endorsement, making cover clearer to understand for brokers and clients, it added.

The company’s InfoSec insurance also covers policyholders for fees and costs for legal and forensic services, notification services, call centre services, credit monitoring, identity monitoring or other personal fraud or loss prevention solutions, and public relations and crisis management in case of a data breach.