Beazley vs 
Mylo: How Do They Compare for Cyber Insurance?
Mylo compares quotes from several carriers and notes cyber can join a business owner's policy; Beazley sells its own Full Spectrum Cyber or a cyber piece of MediaTech.
Mylo says cyber can often sit on a Business Owner's Policy next to general liability and property. Beazley sells Full Spectrum Cyber to accounts under $35 million in revenue, or pairs cyber with technology E&O on MediaTech. 5,1
What Are the Key Differences Between Beazley and Mylo Cyber Insurance?
A BOP Add-On Versus a Named Small-Business Form
Mylo brokers cyber and says it can often be added to a Business Owner's Policy depending on the carrier, sitting beside general liability, commercial property and business interruption. Beazley underwrites Full Spectrum Cyber as its own product for accounts under $35 million in revenue with limits up to $5 million, quoted only by a broker on myBeazley. Choose Mylo if you want cyber added to a BOP after comparing carriers; choose Beazley if you want that named Beazley form and sit under the revenue cap. 5 1
Threat Categories Versus Named Insuring Agreements
Mylo names hacking and social-engineering attacks, employee or partner data errors, and malware or ransomware as the threats coverage is meant to address, plus non-legal costs such as investigation, notification and ransom reimbursement. Beazley's sample MediaTech form instead names Breach Response Costs, Cyber Extortion Loss, business interruption and eCrime as insuring agreements. 5 3
Carrier Shopping Versus an Unnamed Beazley Entity
Mylo compares quotes from multiple carriers and does not name the issuer on its cyber page. Beazley's Full Spectrum Cyber page also names no issuing insurer; only a MediaTech application names Beazley Insurance Company, Inc. on the cover, which is not confirmed for a cyber-only quote. 5 1 4
What Should You Confirm in Beazley and Mylo Cyber Insurance Quotes?
- Ask Mylo which carriers would actually add cyber to a BOP for your class of business. 5
- Ask Beazley whether the quote is Full Spectrum Cyber or a MediaTech form that shares an aggregate. 3
- Get the issuing insurer from both; neither cyber page names one for a standard quote. 5 1
- Ask Beazley what the vendor-tool discount through Beazley Security actually reduces. 1
Beazley vs Mylo Cyber Insurance Compared
Beazley vs Mylo: Cyber Insurance: documented features by provider
| Criteria | Beazley Full Spectrum Cyber for Small Businesses | Mylo Cyber Insurance |
|---|---|---|
| Who It’s For | Beazley says Full Spectrum Cyber is available to accounts with under $35 million in annual revenue, with coverage limits up to $5 million, purchased by a broker through Beazley's myBeazley platform. 1Company-reported. Full Spectrum Cyber product page eligibility paragraph; eligibility for a particular business still depends on underwriting. | Mylo markets cyber insurance to businesses that take credit cards or store customer information, citing its own figure that more than two-thirds of small businesses have experienced a cyberattack. 5Company-reported. Cyber insurance product page; a company-reported statistic, not independently verified. |
| Coverage Features | The sample MediaTech cyber insuring agreements cover Breach Response Costs after an actual or suspected data breach, Cyber Extortion Loss from an extortion threat, business interruption loss from a security breach or system failure, and eCrime losses from fraudulent instruction, funds transfer fraud or telephone fraud. 3Company-reported. Sample policy form F00731, 022019 edition; the issued policy's wording and any endorsements control, and a stand-alone Full Spectrum Cyber policy may use different wording. | Mylo says cyber coverage can pay non-legal costs (breach investigation, customer notification, crisis-management and PR help, lost income, ransom reimbursement, and data restoration) as well as legal and regulatory costs, including defense and fines from a regulator such as HIPAA or from lawsuits by people affected by a breach. 5Company-reported. Cyber insurance product page; the issued policy and its exclusions control. Mylo names hacking and social-engineering attacks (such as spear phishing), employee or partner data errors and misuse, and malware or ransomware as the cyber threats this coverage is designed to address. 5Company-reported. Cyber insurance product page. Mylo says cyber insurance can often be added to a Business Owner's Policy depending on the carrier, alongside general liability, commercial property and business interruption. 5Company-reported. Cyber insurance product page "Add cyber to your Business Owner's Policy (BOP)" section. |
| Role in This Line | For small businesses, Beazley sells cyber coverage two ways: as Full Spectrum Cyber, built around its Beazley Breach Response product plus integrated risk-management services from its in-house Beazley Security unit, and as the cyber component bundled inside the broader MediaTech form alongside tech E&O, professional E&O and media liability. 1,2Company-reported. US small-business product pages for Full Spectrum Cyber and MediaTech; does not address any larger-account cyber program Beazley may write separately. | Mylo brokers cyber insurance by comparing quotes from multiple carriers rather than underwriting the policy itself. 5Company-reported. Cyber insurance product page. |
