Overview web link

Offering up to £25M in limits

Modifiable for unique exposures and business needs

Streamlined to bring more clarity and contract certainty

Designed for a wider range of sectors and risks

Key Coverages and Enhancements web link

Incident Response

  • Covers broad category of fraud protection & notification services including voluntary
  • Incur loss before consent for first 72 hours

Data Recovery & Bricking

  • Covers costs to recover, repair, replace or recreate data and software and replace bricked hardware
  • Data coverage is not limited to restoration from backups
  • Bricked hardware includes broad list of computing and personal devices and data storage hardware
  • Betterment up to 25%
  • Operational Technology coverage can be added

Crime

  • Covers financial loss resulting from cyber crimes including computer fraud, social engineering, diverted receivables, theft of telecom, data transmission and utility services (cryptojacking)
  • Funds transfer fraud can be added
  • Costs to investigate, reverse or correct monetary transfers
  • Authentication requirement on social engineering claims can be deleted

Liability & Regulatory Actions

  • Coverage for civil and regulatory liability because of any failure of security or failure to protect personal or third party confidential information
  • Broad category of protected personal information scales to meet any regulatory requirement
  • Collection, use and handling violations, not limited to a data breach
  • Civil liability for biometric information can be added

Tech E&O

  • Tech E&O can be added
  • Unintentional breach of contract
  • Software copyright infringement

General Terms & Conditions

  • Single highest retention if more than one coverage is triggered
  • Rogue employee and imputation and severability conditions geared to preserving coverage

Business Interruptions

  • Covers loss of income and extra expenses because of interruption to the insured’s or a service provider’s network.
  • Waiting Period is a qualifying trigger with dollar retention for middle market & large businesses
  • BYOD, voluntary shutdown & continuing operating costs
  • Non IT service provider coverage
  • Cloud service outage
  • Public utility outage can be added
  • Forensic accounting costs
  • Interim payment of undisputed loss
  • 180 day Period of Restoration

Extortion

  • Coverage for ransom demand and related costs to investigate and respond
  • Legal representation to communicate with law enforcement and comply with OFSI and other laws restricting payment of ransom
  • Incur sublimited loss before consent for first 72 hours
  • Information reward reimbursement

Reputational Harm

  • Covers loss of income because of customer attrition and brand harm resulting from adverse publicity from any cyber event
  • Not limited to data breach events
  • 12 month period of restoration

PCI-DSS

  • Coverage to respond to PCI-DSS violations
  • Triggers for actual or suspected breach
  • Card reissuance and recertification costs
  • Administrative reimbursement costs that are payable by Insured

Media Liability

  • Coverage for media torts arising out of publication and communication in any form including libel, slander, defamation, emotional distress & outrage, infringement of the right of privacy or publicity, infringement of copyright & misappropriation of ideas

Coverage is underwritten by one or more subsidiaries of AXIS Capital Holdings Limited, whose financial strength and ratings are available at https://www.axiscapital.com/who-we-are/financial-strength-ratings. Coverage may not be available in all jurisdictions and may be available only through appropriately licensed producers.

In the United Kingdom, risks are underwritten by AXIS Managing Agency Ltd (“AMAL”) on behalf of Syndicate 1686, AXIS Energy Transition Syndicate 2050 or by AXIS Specialty Europe SE (London Branch) (“ASE London Branch”). AMAL is registered in England (Company Number: 08702952) with a registered office at 52 Lime Street, London, EC3M 7AF. AMAL is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Firm Reference Number: 754962). AMAL manages Syndicate 1686 and AXIS Energy Transition Syndicate 2050 and is additionally subject to the supervision of the Society of Lloyd's. The Syndicates also benefits from the strength of the Lloyd's brand, its network of global licenses and the Lloyd's Chain of Security. ASE London Branch is an overseas branch of AXIS Specialty Europe SE (“ASE”). ASE is registered in Ireland (Registration Number: 353402 SE) at Sixth Floor, 20 Kildare Street, Dublin 2, Ireland. ASE is authorised and regulated by the Central Bank of Ireland. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of ASE’s regulation by the Prudential Regulation Authority are available from us on request.

In the European Economic Area, risks are underwritten by AXIS Specialty Europe SE (“ASE”) or by Lloyd’s Insurance Company S.A. (“Lloyd’s Europe”). ASE is registered in Ireland (Registration Number: 353402 SE) at Sixth Floor, 20 Kildare Street, Dublin 2, Ireland. ASE is authorised and regulated by the Central Bank of Ireland. Lloyd’s Europe is a subsidiary of Lloyd’s and is authorised by the National Bank of Belgium (NBB).