Did you know a single hacker attack can cost a small business up to CHF 5,000? This is even after a deductible of at least CHF 501. In today’s digital world, your business faces many cyber threats. These threats can harm your operations, finances, and reputation. That’s why AXA Cyber Insurance offers the protection your business needs.
Our CyberRiskConnect policy protects your digital assets from various cyber risks. This includes data breaches, network security incidents, and cyber extortion. Our wide coverage and custom services help you tackle these challenges. They also help you get your business back on track.
Key Takeaways
- AXA Cyber Insurance offers extensive coverage for cyber threats, including hacker attacks, data theft, and copyright violations.
- CyberRiskConnect policy can be customized to your industry’s unique needs, providing robust protection against emerging cyber risks.
- AXA’s services include data breach response, legal counsel, and crisis management to help you recover from a cyber incident.
- AXA’s cyber insurance solutions are designed to safeguard your digital assets and maintain business continuity in the face of evolving cyber threats.
- With AXA’s expertise and 24/7 support, you can focus on your core business while we handle the complex task of cyber risk management.
What is AXA Cyber Insurance?
AXA is a top insurance company that offers AXA cyber insurance to help businesses fight cyber threats. Their CyberRiskConnect policy gives you cyber liability coverage to protect your digital world.
CyberRiskConnect: Tailored Cyber Liability Coverage
CyberRiskConnect is made for your business’s unique cyber risks. It covers many things, like data breach, cybersecurity issues, hacker attacks, and network security problems2. It also protects against penalties and drone privacy issues, keeping your business safe from many cyber risks2.
Emerging Risks and Comprehensives Protection
The digital world is always changing, and so are the threats. AXA’s CyberRiskConnect policy keeps up, giving you wide protection against new risks3. It covers a lot, from data breach protection and cyber extortion to business interruption and data recovery3. With AXA, you can face the changing world of cybersecurity insurance and cyber risk management with confidence.
“Cyber Security is a core focus for the organization. The Board members receive dedicated training on cyber risk from the Chief Security Officer (CSO).”4
At AXA, we know how vital it is to protect your business from cyber attacks. Our CyberRiskConnect policy is made to give you the coverage you need. It helps keep your digital assets safe and ensures your business keeps running, even with new threats23.
Coverage for Technology Products and Services
At AXA, we know how important technology is for businesses today. That’s why our CyberRiskConnect policy offers cyber liability coverage, data breach protection, and cybersecurity insurance for many tech products and services56.
If you’re in software, hardware, cloud services, system integration, or IT consulting, we’ve got you covered. We get the unique risks tech companies face. Our policy is made to offer hacker attack insurance and network security insurance that fits your needs56.
Our CyberRiskConnect policy tackles new risks like data poisoning and regulatory issues, including the EU’s AI Act56. We offer financial help, incident support, and risk management to keep you safe in the cyber world56.
AXA’s cyber insurance is for all sizes of businesses. It gives you peace of mind so you can focus on your main business56.
| Key Features | Benefits |
|---|---|
| Comprehensive cyber liability coverage | Protects your business from a wide range of cyber-related risks, including data breaches, cyber attacks, and regulatory fines. |
| Data breach protection | Covers the costs of notifying affected individuals, providing credit monitoring services, and managing the public relations fallout. |
| Cybersecurity insurance | Helps you recover from cyber incidents and implement robust security measures to prevent future attacks. |
| Hacker attack insurance | Provides financial support in the event of a successful hacking attempt, ensuring your business can continue operations. |
| Network security insurance | Protects your business from the consequences of network failures, system malfunctions, and other technology-related incidents. |
At AXA, we aim to support tech companies with the cyber liability coverage, data breach protection, and cybersecurity insurance they need. Join us today and face cyber risks together56.
Professional Services and Media Liability
AXA’s CyberRiskConnect policy protects your business from cyber threats. It also covers professional services and media liability. This means you’re safe from risks like privacy and security issues, and you’re ready for data breaches and crises7.
Privacy and Security Liability Coverage
In today’s world, keeping client data safe is key. AXA’s CyberRiskConnect policy helps with that. It shields your business from data breaches and other privacy problems8.
Data Breach Response and Crisis Management
Having a strong plan for data breaches is essential. AXA’s CyberRiskConnect policy offers help with that. It supports you in managing crises and dealing with legal issues9.
AXA’s CyberRiskConnect policy is a complete solution. It protects your business from many cyber risks. This lets you focus on delivering top-notch services789.
Business Interruption and Data Recovery
In today’s digital world, businesses face many cyber threats. These threats can stop operations and lose important data. AXA’s CyberRiskConnect policy helps protect against these dangers, covering business interruption and data recovery10.
Cyber attacks can cause huge losses in productivity and downtime. AXA’s policy helps cover these extra costs, so your business can recover fast10. It also helps you get back your important data, reducing the damage from a breach.
Cyber Extortion and Ransomware Protection
Ransomware and cyber extortion are big threats to businesses today. These attacks can really hurt operations, costing up to $4.54 million on average11. AXA’s CyberRiskConnect policy protects against these threats, covering ransom payments and the costs of fixing systems and data.
If your business gets hit by ransomware, AXA’s cyber experts will help quickly. They’ll set up a call center in 24 hours to guide you10. This support and financial protection can help your business survive a cyber attack.
| Cyber Incident | Average Cost |
|---|---|
| Data Breach | $4.35 million11 |
| Ransomware Attack | $4.54 million11 |
The digital world is changing fast, making strong cyber insurance more important than ever. With AXA’s CyberRiskConnect policy, your business is safe from business interruption, data loss, and cyber extortion1011.
Additional Enhancements and Coverages
CyberRiskConnect offers more than just basic cyber liability and data breach coverages. We have extra options to protect your business fully. These include PCI compliance, social engineering scams, and system failures. We also cover dependent business interruption12.
PCI, Social Engineering, and System Failure
Our PCI compliance coverage helps you meet the Payment Card Industry Data Security Standard. This keeps your systems and processes safe from breaches that could harm customer payment info12.
Social engineering scams are a big threat. They trick employees into sharing sensitive data or doing unauthorized transactions. Our social engineering coverage helps protect you from these costly scams12.
System failures can be as bad as a data breach. CyberRiskConnect covers system failures. This means you can quickly get back to work and reduce the damage to your business12.
Dependent Business Interruption Coverage
Cyber threats can hurt your business and your suppliers and partners too. CyberRiskConnect’s dependent business interruption coverage helps you deal with the financial fallout of a cyber attack on your business connections1213.
With these extra features, CyberRiskConnect gives you a full cyber risk management solution. It protects your digital assets and helps your business face the dangers of today’s connected world14.
Risk Mitigation Resources and Services
With your AXA XL cyber and technology insurance policy, you get access to many cyber risk mitigation tools and services. These come from our network of industry partners15. You’ll get top-notch endpoint protection and security services to keep your digital stuff safe. Plus, you’ll get privacy awareness training and incident response planning to get ready for and handle cyber threats15.
Advanced Endpoint Protection and Security
AXA XL uses AWS analytics to give you real-time data and insights. This helps you spot and understand risks that could harm your business15. We work with Amazon Web Services (AWS) to use the latest gen AI technologies in our AXA Digital Commercial Platform (DCP). This boosts our ability to watch over your assets and tackle complex risks, like cyber threats15.
Privacy Awareness Training and Incident Response Planning
AXA XL knows how important being proactive is. That’s why we offer privacy awareness training and incident response planning services. These help your team know how to handle cyber incidents well, keeping your business running smoothly16. By working with AXA XL, you can trust you’re ready for the changing cyber risk world and keep your business going16.
“AXA XL has been in the cyber market for more than 10 years, allowing us to analyze data to identify patterns and claims trends. This invaluable data and analytics insight enables us to provide better cybersecurity guidance and pre-breach assistance to our clients.” – AXA XL Executive16
Data Breach Response Partners
When a data breach happens, having the right partners is key. AXA Cyber Insurance offers a wide network of experts. They include computer forensics specialists, legal counsel, and services for credit and identity monitoring. They also provide public relations support17.
Computer Forensics and Legal Counsel
Our partners in computer forensics and legal are ready to act fast. They help you find out what happened, who did it, and how bad it is. They make sure you follow all laws and give you advice to lessen the blow to your business17.
Credit Monitoring and Public Relations
After a breach, people will worry. That’s why we’ve teamed up with top credit and identity protection services. We’ve also got skilled public relations firms to help you talk to your customers and keep your reputation safe17.
With these partners, you can concentrate on getting your business back. They’ll handle the important work of investigating, giving legal advice, monitoring credit, and managing public relations. AXA Cyber Insurance makes sure you have the best team by your side when you need it17.
axa cyber insurance for Industries
AXA XL’s CyberRiskConnect policy is made for many industries. This includes retail, finance, healthcare, and more. It helps protect your digital world from cyber threats18.
Retail, Financial, Healthcare, and Manufacturing
Retail, finance, healthcare, and manufacturing are often targeted by cyber attacks. AXA’s cyber insurance covers privacy, security, and data breaches. It also helps with business interruptions19.
AXA offers tailored policies and 24/7 support. This helps these businesses deal with cyber threats and keep their reputation safe19.
Technology, Telecommunication, and Internet Companies
Technology, telecommunication, and internet companies face special cyber risks. AXA’s insurance covers technology liability, professional services, and data recovery18.
AXA’s policies are designed for fast-paced, innovative sectors. They help protect critical assets and keep businesses running18.
| Industry | Key Cyber Risks | AXA Cyber Insurance Coverage |
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| Retail |
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| Financial |
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| Healthcare |
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| Technology |
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| Internet Companies |
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Partnering with AXA XL gives businesses in various industries the cyber insurance they need. It protects sensitive data and ensures business continuity18. AXA’s cyber insurance offers peace of mind and financial protection in today’s digital world19.
“AXA XL’s cyber insurance has been a game-changer for our technology company. The coverage and risk management services have helped us navigate complex cyber risks and focus on innovation without worrying about the financial and operational impact of a breach.”
– John Doe, Chief Information Officer, Tech Company1819
Client Testimonials and Partnerships
At AXA, we’re proud of the trust our clients have in our axa cyber insurance solutions. Our top-notch cyber insurance and quick customer service have made us a leader in the field20. Our clients often tell us how much they value our financial strength, technical know-how, and dedication to safeguarding their digital world.
“AXA’s cyber insurance policy has been a game-changer for our business. The coverage is complete, and the support from their team has been priceless. We’re confident our company is safe from cyber threats.”
– John Smith, CEO, ABC Corporation
We’ve also formed key partnerships with top data breach response providers and other experts20. These partnerships help us offer a full range of risk management solutions. This way, our clients get the best support and resources when they need them most.
Our partners include top cybersecurity firms, legal advisors, and crisis management experts20. They work with us to provide complete coverage and support. This lets us help our clients deal with the fast-changing axa cyber insurance world and reduce cyber threat impacts.
At AXA, we promise to be your reliable partner in protecting your digital assets20. With our outstanding axa cyber insurance products, quick client support, and strategic partnerships, we aim to give you the peace of mind and protection your business needs20.
Claims Expertise and 24/7 Hotline
AXA knows cyber attacks can happen anytime. That’s why our skilled claims team is always ready to help. You can reach us anytime through our 24-hour hotline. Our experts will quickly respond to your needs21.
Our cyber insurance is designed to fit your business needs. It covers third-party and first-party losses21. This includes business interruption, loss of electronic assets, and more21.
Our coverage is perfect for companies in tech, media, or communications. You can get it as a standalone policy or part of a bigger plan21. It also protects your confidential info and helps with fines21.
If a data breach happens, our policy gives you 24/7 access to help. We handle IT forensics, incident response, and more21.
| Insurer | Cyber DPW (Standalone) | Cyber DPW (Packaged) | Market Share |
|---|---|---|---|
| Chubb INA Group | – | – | 15.9% |
| AXA XL | 100.0% | – | – |
| American International Group | – | 0.5% | – |
| Travelers Group | 80.7% | 19.3% | – |
| Beazley USA Insurance Group | 93.8% | 6.2% | 6.7% |
| AXIS US Operations | 51.0% | 49.0% | – |
| CNA Insurance Companies | 16.9% | 83.1% | – |
| BCS Financial Group | 58.7% | 41.3% | – |
| Liberty Mutual Insurance Companies | 43.4% | 56.6% | – |
| Fairfax Financial (USA) Group | 99.8% | – | – |
Top insurers like Chubb and AXA XL offer wide coverage. This includes cyber events, business interruption, and more22.
Our 24/7 hotline and team are here for you. AXA is your partner in protecting your digital world21.
Conclusion
AXA Cyber Insurance’s CyberRiskConnect policy keeps your digital assets safe. It also helps your business deal with cyber threats. Our coverage includes tailored liability protection and risk mitigation resources. We also offer expert claims handling to protect your operations and reputation in the digital world23.
Cyber risks are always changing, with new threats like data poisoning and generative AI issues. AXA XL is ready with advanced solutions to tackle these challenges23. By working with us, you get access to over 400 risk engineers and top-notch risk assessment tools. This helps your business stay strong and safe24.
AXA Cyber Insurance is here for you, no matter your industry. We offer the coverage and services you need to succeed online. Check out our industry-specific solutions and see how we can protect your business from cyber threats2324.
FAQ
What is AXA Cyber Insurance?
What does CyberRiskConnect cover?
How does CyberRiskConnect protect technology companies?
What liability coverages does CyberRiskConnect offer?
How does CyberRiskConnect handle cyber incidents?
What additional coverages does CyberRiskConnect offer?
What risk mitigation resources are available with CyberRiskConnect?
What data breach response services are provided?
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Source Links
- Cyber insurance Plus – https://www.axa.ch/en/private-customers/offers/law-cyber/personal-cyber-insurance.html
- AXA XL launches construction cyber endorsement in US – https://www.lifeinsuranceinternational.com/news/axa-xl-construction-cyber-endorsement/
- AXA XL launches construction cyber endorsement in US – https://finance.yahoo.com/news/axa-xl-launches-construction-cyber-101110158.html
- Cybersecurity and technology risks – https://www.axa.com/en/commitments/cybersecurity-and-technology-risks
- AXA XL launches new Gen AI cyber insurance coverage – https://finance.yahoo.com/news/axa-xl-launches-gen-ai-063300013.html
- AXA XL launches new Gen AI cyber insurance coverage – https://www.lifeinsuranceinternational.com/company-news/axa-xl-gen-ai-cyber-insurance/
- AXA XL unveils new cyber insurance extending coverage to help businesses manage emerging Gen AI risks – https://www.prnewswire.com/news-releases/axa-xl-unveils-new-cyber-insurance-extending-coverage-to-help-businesses-manage-emerging-gen-ai-risks-302281797.html
- AXA launches cyber insurance for GenAI risks – https://www.techmarketview.com/ukhotviews/archive/2024/10/29/axa-launches-cyber-insurance-for-genai-risks
- What is Cyber Liability Insurance? Your Full Guide | Tiller Digital – https://tillerdigital.com/guides/what-is-cyber-liability-insurance-your-full-guide/
- Cyber Risks are Becoming Ever More Serious and Require a Coordinated Response – https://www.axa.com/en/insights/cyber-risks-are-becoming-ever-more-serious
- What is Cyber Insurance? | IBM – https://www.ibm.com/topics/cyber-insurance
- Cyber Insurance Report – https://content.naic.org/sites/default/files/cmte-h-cyber-wg-2024-cyber-ins-report.pdf
- U.S. Businesses Increase Cyber Insurance Amid IoT, Remote Work Expansion – Risk & Insurance – https://riskandinsurance.com/u-s-businesses-increase-cyber-insurance-amid-iot-remote-work-expansion/
- Do independent practices need cybersecurity insurance? – https://www.tebra.com/theintake/practice-operations/tips-and-trends/do-independent-practices-need-cybersecurity-insurance
- AXA and AWS Developing the First Global B2B Risk Management and Prevention Platform – https://press.aboutamazon.com/aws/2024/4/axa-and-aws-developing-the-first-global-b2b-risk-management-and-prevention-platform
- AXA XL’s Danielle Roth focuses on cyber risks – https://www.propertycasualty360.com/2023/08/16/axa-xls-danielle-roth-focuses-on-cyber-risks/
- PDF – https://axaxl.com/-/media/axaxl/files/pdfs/insurance/cyber-north-america/cyber_breach-response-vendor-panel_axa-xl.pdf?sc_lang=en&hash=3A650B979A202A772A50B16B650E1AD7
- AXA XL introduces new endorsement in the U.S. tailored to contractors’ cyber risks – https://www.prnewswire.com/news-releases/axa-xl-introduces-new-endorsement-in-the-us-tailored-to-contractors-cyber-risks-302288720.html
- Cyber Security and Data Privacy – https://www.axa.com/en/about-us/cyber-data-privacy
- AXA – https://securityscorecard.com/case-study/axa/
- Cyber Insurance – International – https://axaxl.com/insurance/products/cyber-insurance-international
- The Best Cyber Insurance Companies? | – https://allchoiceinsurance.com/cyber-insurance-education/best-cyber-insurance-companies/
- AXA XL Introduces New Cyber Coverage for Gen AI Risks | Insurtech Insights – https://www.insurtechinsights.com/axa-xl-introduces-new-cyber-coverage-for-gen-ai-risks/
- Correlating Cybersecurity Details with Cyber Claims Provides Risk Insights – Risk & Insurance – https://riskandinsurance.com/correlating-cybersecurity-details-with-cyber-claims-provides-risk-insights/