Reinsurance News

AXIS Insurance and Kennedys Law to create marine cyber product

22nd October 2020 - Author: Katie Baker

Re/insurer AXIS Insurance and law firm, Kennedys Law LLP have announced a collaboration for services in connection with the new AXIS Marine Cyber Insurance product.

axis-capital-logoThis new product will provide insurance cover for the marine shipping market to protect against cyber exposures on board vessels and onshore in shipping company offices.

It will be available immediately for all new and renewing AXIS Cyber Marine Insurance policies.

AXIS policies will have new focus points in order to provide a comprehensive approach to prepare, protect against and respond to cyber threats across the maritime industry.

One of these is to have a dedicated point of contact to always be available in order to report a cyber incident and process insurance claims simultaneously.

The support being offered includes a range of assistance from system restoration, counsel and liaising with cyber experts, as well as online cyber security awareness training for all maritime personnel, both onshore and offshore.

The AXIS Marine Cyber Insurance product will be underwritten and managed by its Global Cyber and Technology team in London.

Dan Trueman, AXIS Insurance Global Head of Cyber and Technology said: “The marine shipping insurance market dates back to the very origins of the insurance industry, and it’s under threat from one of the newest perils; cyber risk.

“Through AXIS and Kennedys, policyholders will have access to an extensive network of experts to address the modern needs of shipping as cyber threats take centre stage.”

Jonathan Evans, Partner at Kennedys, added: “We are delighted that AXIS has chosen Kennedys to provide marine cyber incident response services, legal advice and ancillary services.

“AXIS policyholders anywhere in the world at any time can access a dedicated helpline to navigate their way through a cyber incident, whether that be on land or at sea, which is often a very daunting and challenging experience that requires immediate specialist advice and guidance from our global panel of experts.”

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