AXIS Insurance, the insurance business of AXIS Capital Holding, has announced a collaboration with law firm Kennedys Law to launch a new AXIS Marine Cyber Insurance product, offering insurance cover for the marine shipping market to protect against cyber exposure on board vessels and on shore in shipping company offices.
“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,” said Dan Trueman, AXIS Insurance Global Head of Cyber and Technology.
“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.”
The product will be available immediately for all new and renewing AXIS Cyber Marine Insurance customers. The new policies will include a single point of contact for reporting of cyber incidents and processing of insurance claims simultaneously, as well as online cyber security awareness training for all maritime personnel, both onshore and offshore.
Support will also be made available, if required, for system restoration, counsel and liaising with cyber experts in the event of a cyber incident.
“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,” said Jonathan Evans, Partner at Kennedys.
The AXIS Marine Cyber Insurance product will be underwritten and managed by the firm’s Global Cyber and Technology team in London.
