What type of business is it good for?
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Incident Response
- Covers broad category of fraud protection & notification services including voluntary
- Incur loss before consent for first 72 hours
- Post incident consulting services available
Extortion
- Coverage for ransom demand and related costs to investigate and respond
- Legal representation to communicate with law enforcement and comply with OFAC
- Incur sublimited loss before consent for first 72 hours
- Information reward reimbursement
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 BIPA and biometric information can be added
Professional Liability
- Customizable Tech E&O and MPL
- Unintentional breach of contract
- Copyright and trademark infringement (MPL)
- Software copyright infringement (Tech E&O)
- Claim avoidance & other supplemental coverages
- Personal injuries (MPL)
General T&Cs
- Single highest retention if more than one coverage is triggered
- Travel expense to attend court, hearings & depositions
- 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.
- Retention is greater of loss incurred during Waiting Period or dollar retention
- Waiting Period can be qualifying trigger with dollar retention for middle market & large businesses
- BYOD, voluntary shutdown & continuing operating costs
- Non IT service provider coverage can be sublimited or removed
- Cloud service outage
- Public utility outage can be added
- Forensic accounting costs, which can be sublimited or excluded
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
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
- Negligent misstatement (Tech E&O and MPL)
Incident Response
- Covers broad category of fraud protection & notification services including voluntary
- Incur loss before consent for first 72 hours
- Post incident consulting services available
Extortion
- Coverage for ransom demand and related costs to investigate and respond
- Legal representation to communicate with law enforcement and comply with OFAC
- Incur sublimited loss before consent for first 72 hours
- Information reward reimbursement
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 BIPA and biometric information can be added
Professional Liability
- Customizable Tech E&O and MPL
- Unintentional breach of contract
- Copyright and trademark infringement (MPL)
- Software copyright infringement (Tech E&O)
- Claim avoidance & other supplemental coverages
- Personal injuries (MPL)
General T&Cs
- Single highest retention if more than one coverage is triggered
- Travel expense to attend court, hearings & depositions
- 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.
- Retention is greater of loss incurred during Waiting Period or dollar retention
- Waiting Period can be qualifying trigger with dollar retention for middle market & large businesses
- BYOD, voluntary shutdown & continuing operating costs
- Non IT service provider coverage can be sublimited or removed
- Cloud service outage
- Public utility outage can be added
- Forensic accounting costs, which can be sublimited or excluded
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
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
- Negligent misstatement (Tech E&O and MPL)
- AXIS 1012098 0122 AXIS Cyber Application
- AXIS 1012097 0122 AXIS Cyber Ransomware Supplemental Application
- AXIS 1012085 0920 AXIS Cyber Biometric Information Supplemental Application
- AXIS 1012099 1020 AXIS Cyber Supplemental Application for Manufacturers and Utilities
- AXIS 1012728 1020 AXIS Cyber Supplemental Application for Retailers
- AXIS 1014103 0122 AXIS Technology & MPL Supplemental Application
- AXIS 1012739 0922 AXIS Cyber Ransomware & Biometric Information Supplemental Application for Small Business
- AXIS 1012985 1022 AXIS Cyber Application for Small Business
- AXIS 1012985 1022 AXIS Cyber Application for Small Business
- AXIS 1012098 0122 AXIS Cyber Application
- AXIS 1012097 0122 AXIS Cyber Ransomware Supplemental Application
- AXIS 1012085 0920 AXIS Cyber Biometric Information Supplemental Application
- AXIS 1012099 1020 AXIS Cyber Supplemental Application for Manufacturers and Utilities
- AXIS 1012728 1020 AXIS Cyber Supplemental Application for Retailers
- AXIS 1014103 0122 AXIS Technology & MPL Supplemental Application
- AXIS 1012739 0922 AXIS Cyber Ransomware & Biometric Information Supplemental Application for Small Business
- AXIS 1012985 1022 AXIS Cyber Application for Small Business
Not all insurance coverages or products are available in all states and policy terms may vary based upon individual state requirements. Issuance of coverage is subject to underwriting, and coverage depends upon the actual facts of each claim and the terms, conditions and exclusions of each individual policy. Information on this website is provided for informational purposes only and is not an offer to sell, or a solicitation to buy, any particular insurance product. No insurance product is offered or will be sold in any state in which such offer or solicitation would be unlawful under the laws of such state. Underwritten in the U.S. by AXIS Insurance Company (NAIC #37273), an Illinois property and casualty insurer, licensed in all 50 states and the District of Columbia, with offices at 111 South Wacker Drive Suite 3500 Chicago, IL 60606. Certain products may be offered by AXIS companies not licensed in some states and therefore may only available through a licensed surplus lines broker.