AXA XL has announced that it has added Cyber Suite, a cyber and security insurance product, as an option to its attorney errors and omissions insurance program.
“Lawyers rely on technology as much as any other profession,” said Dwayne Johnson, head of underwriting for AXA XL’s lawyers’ professional liability business. “A cyber incident can dramatically compromise everything a law firm has worked hard to build. We are delighted to be able to combine our professional liability and cyber insurance expertise and offer Cyber Suite coverage to help our clients deal with new emerging online and technology-driven exposures.
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Cyber Suite protects law firms affected by a data breach or other cyber crimes. Coverages available include:
- Data breach response expenses: provides coverage for resources to respond to a breach of personal information
- Computer attack: provides cover for resources to respond to a computer attack
- Cyber extortion: cover against extortion threats
- Misdirected payment fraud: ensures the reimbursement of the sum obtained fraudulently from the insured following an unjustified transfer
- Computer fraud: offers the reimbursement of the amount fraudulently obtained from the insured as a result of computer fraud
- Liability in the event of data compromise: extends coverage to pay defense and settlement costs in the event of a lawsuit related to a personal information breach