Global specialty underwriter and re/insurance provider, AXIS Capital Holdings Limited (AXIS), has launched a customisable cyber and specialist liability coverage insurance policy to Canadian companies with up to $2 billion in revenue.
The policy, AXIS Cyber Technology and Miscellaneous Professional Liability (ACTM), aims to protect businesses and avoid potential gaps in insurance coverage by enabling policyholders to cover multiple risks within one comprehensive policy.
The policy is available via brokers and underwritten through AXIS Reinsurance Company (Canadian Branch), and is suitable for all sizes of businesses across a wide range of sectors in Canada.
Coverages can include: cyber coverage comprised of incident response, rapid triage, and support services via Incident Commander; network interruption, and other first-party and liability coverages related to cyber and data risks.
Another coverage is Technology Errors and Omissions, which offers liability coverage for technology, telecommunications, and internet-based services and products. The last one is a Miscellaneous Professional Liability policy.
Michael McCallum, Head of Cyber & Technology, Canada, AXIS, commented, “As innovations in digital technology and AI emerge, coupled with new forms of cyber threats, it is essential that the solutions we deliver for businesses evolve to meet the changing risk landscape.
“In combining specialist Cyber, Technology, and Miscellaneous Professional Liability coverages in one customisable policy, we’re offering brokers and commercial customers streamlined access to elevated insurance solutions for a range of risks. Ultimately, this comes down to helping our customers prepare for, protect against, and respond to cyber risks.”
Brad Randell, Head of Insurance, AXIS Canada, added, “In launching ACTM in Canada, we are pleased to add to AXIS’ suite of specialty insurance products that support businesses across a range of industries, as they navigate new, complex, and evolving risks.”
