CyberGuide - Information Security and Cyber Risk Management

Beecher Carlson

Christopher Keegan
1500 Broadway, 21st Floor
New York, NY 10036
646.358.8530
ckeegan@beechercarlson.com


About Beecher Carlson:

Beecher Carlson’s cyber practice provides leading-edge advice and resources to address our clients’ complex cyber-risk issues. Comprised of 16 industry experts skilled in managing the intricate risks that cyber liabilities pose, Beecher Carlson’s cyber practice helps clients defend their data and company reputations by evolving our technology and resources alongside complex and dynamic cyber risks.

The ability to assess cyber risk with superior analytics is one of the cyber group’s distinguishing characteristics. The practice has developed a suite of proprietary cyber products and tools to assist in quantifying and analyzing potential exposures to cyber risks for the benefit of our clients. Among these is Beecher Carlson’s proprietary In-Site series, which generates evidence-based information that assists in the evaluation of our clients’ cyber risks. Included in the In-Site series are the following models: Cyber In-Site PML (Privacy Probably Maximum Loss Model), Cyber In-Site BI (Business Interruption Model), and Cyber In-Site F&S (Frequency and Severity Model).

Beecher Carlson also utilizes its CyberSelect 360˚ tool to cover a full spectrum of potential cyber-related losses on an Excess, Difference in Conditions, and Difference in Limits basis. The program sits on top of other designated insurance policies and fills in the gaps between those policies. Broad cyber coverage, which includes traditional and non-traditional risks, can be coordinated with property and casualty programs. Using this tool, we are able to protect our clients from gaps in coverage. Additionally, Beecher Carlson leverages it presence in the marketplace to aggressively negotiate the best possible programs for our clients. We achieve this by partnering with our clients and advocating for them. Representative of our success, we were able negotiated a multi-hundreds of million dollar limit placement that included contract manufacturing coverage.

Developing new and better technologies and utilizing our risk management expertise, Beecher Carlson’s cyber practice helps our clients manage their business risks and protect and enhance their capital.

Survey Answers

Target Client Size
more than $25M
Does US business in
Northeast, Southeast, Midwest, Southwest, West
Does international business in
Canada, Continental Europe, Asia, South America, Africa, Australia/New Zealand, Mexico, United Kingdom
Primary Service Offering
Insurance Broker
When did your company start placing standalone cyber insurance policies?
Prior to 2000
As of September 30,2019, what is your organizations standalone cyber gross written premium?
more than $200M
How many dedicated cyber insurance brokers does your company have handling client cyber risk on a day-to-day basis?
11-15
What percentage of your clients buy cyber insurance?
81 - 90%
Approximately how many standalone cyber claims did your firm’s clients file in the last 12 months?
51-75
Approximately how many cyber claims involving other lines of business did your firm’s clients file in the last 12 months?
51-75
Who are your top 5 trading partners of primary cyber insurance policies?
AIG, Beazley, Chubb, Lloyds of London, Zurich
Who are your top 5 trading partners of excess cyber insurance policies?
AIG, AXIS, Lloyds of London, AXA/XL, Berkshire Hathaway