AXA XL boosts lawyers' E&O program with cyber cover

AXA XL boosts lawyers' E&O program with cyber cover | Insurance Business Australia

AXA XL boosts lawyers' E&O program with cyber cover

AXA XL has announced that it has added Cyber Suite, a cyber and security insurance product, as an option to its lawyers’ errors and omissions insurance program.

“Lawyers rely on technology just as much as any other profession,” said Dwayne Johnson, underwriting manager for AXA XL’s lawyers’ professional liability business. “One cyber incident can significantly compromise all that a law firm has worked hard to build. We’re pleased to be able to pair up our professional liability and cyber insurance expertise and deliver Cyber Suite coverage to help our clients address today’s new and emerging online and technology-driven business exposures.”

Cyber Suite protects law firms impacted by a data breach or other cybercrime. Among the available coverages are:

  • Data compromise response expense: provides coverage for resources to respond to a breach of personal information
  • Computer attack: provides coverage for resources to respond to a computer attack
  • Cyber extortion: coverage for extortion threats
  • Misdirected payment fraud: provides reimbursement for the amount fraudulently obtained from the insured as the result of a wrongful transfer
  • Computer fraud: offers reimbursement for the amount fraudulently obtained from the insured as the result of computer fraud
  • Data compromise liability: extends protection to pay defence and settlement costs in the event of a lawsuit related to a breach of personal information