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cyber and crime liability insurance

Our Cyber and Crime liability insurance product is designed to insure your SME clients where they have been the victim of a breach or attack on their computer network or infrastructure or suffer a financial loss as a result of a network compromise, including extortion demands, or where they have been the victim of a covered Crime or fraudulent act by a bad actor. The product is available as an extension to our professional indemnity product as well as a standalone policy.

product overview

  • Statement of fact based product no need for proposal form
  • Companies with up to 20,000,000 turnover
  • Companies holding up to 20,000 personal data records
  • Limit of indemnity up to 1,000,000 in the aggregate for cyber
  • Limit of indemnity up to 100,000 in the aggregate for crime extension
  • Defence costs included in the limit
  • Interest free Direct Debit premium payment facility
  • Minimum excess 1,000
  • Business interruption excess 8 hours
  • Eligible industries (see useful documents section below)
  • Commission 25%
  • 24/7/365 cyber incident response service
  • Excluding USA/Canada

coverage highlights

cyber liability 3rd party coverage

  • Multimedia internet liability
  • Security and privacy liability
    • Failure to protect personal data
    • Violation of law governing the use of personal data
    • Violation of a data breach reporting requirement
    • Negligent failure to prevent a network compromise resulting in
      • Unauthorised access to your computer system
      • Malicious damage or theft of data
      • Denial of service attack
      • Transmission of malware

cyber liability 1st party coverage

  • Privacy notification and crisis management costs including
    • Legal fees to comply with legislation
    • Cost to notify individuals either voluntarily or as a legal requirement
    • Computer forensic costs to identify the extent of a breach
    • Call centre management costs
    • Third party identity protection costs
    • Crisis management costs
    • Following a data breach
  • Emergency response costs
  • Extortion demands following an actual breach or credible threat
  • Regulatory investigation costs
  • Business interruption and increased cost of working including
    • Loss of profit
    • Additional costs incurred
    • Following a network compromise
  • Restoration costs following the loss of electronic data
  • Network compromise/denial of access caused by:
    • Malware
    • Viruses
    • Worms
    • Trojan horses
    • Spyware
    • Zero-day attacks
    • Hacker attacks
    • Denial of Service attacks

cyber crime available by endorsement

  • Social Engineering Financial Fraud
    • Loss of money or securities resulting from its transfer by the insured following instructions from someone fraudulently claiming to be an authorised person
  • Funds Transfer Fraud
    • Loss of money or securities resulting from its transfer to the insured following instructions from someone fraudulently claiming to be the insured
  • Invoice Manipulation fraud
    • Financial loss resulting from the manipulation of the insured's invoice causing payment to go astray

useful documents

  • wording
  • policy summary
  • eligible industries
  • axa xl cyber response service
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angel risk management
Marlborough House,
Victoria Road South,
Chelmsford, Essex, CM1 1LN

telephone +44 (0)1245 343630

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AXA XL
20 Gracechurch Street,
London, EC3V 0BG

telephone +44 (0)20 8442 0000
fax +44 (0)20 8442 0000

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