Beazley creates combined business with focus on cyber risk management

Beazley has turned its in-house cyber services team and wholly owned cybersecurity company Lodestone into a new single company, as it looks to expand its cyber risk management offer.

The new Beazley Security company integrates the risk management services provided as part of a Beazley cyber insurance policy with Lodestone’s technical cyber security services.

It will offer integrated cyber preparedness and response capabilities, investing in new services such as a managed eXtended Detection and Response (mXDR) solution that Beazley said provides around the clock risk monitoring.

Beazley Security will be led by Alton Kizziah, currently CEO of Lodestone. He will report to Paul Bantick Beazley’s global head of cyber risks.

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

Kizziah added: “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.”