Reinsurance
Explore our offerings

The liabilities associated with cyber exposures can devastate your business. A single cyber-attack in the US costs companies, on average, $9.36 million.*

Protect your business by understanding your cyber liability exposures and how AXA XL can help you effectively manage your risk and protect your reputation. Our claims team — comprised of seasoned Cyber and Technology claims professionals — shares real-life scenarios that have impacted multiple industries and jurisdictions.

Healthcare
Total payout: $2,400,000
Coverage section: Data Breach Response and Crisis Management, Privacy and Cyber
Security, Privacy Regulatory Defense, Awards and Fines
Business size: Medium

A client organization experienced a business email compromise that led to first party
data breach expenses, as well as a third-party class action and civil investigative demand.
The impacted population was under 200,000. The matter triggered various coverages
under the policy. The organization retained a data breach coach and forensic vendor. In
addition, counsel was retained on behalf of the client to defend the class action and civil
investigative demand. The total payment for first and third party, including settlements,
was $2.4M.

Technology
Total payout: $1,720,000
Coverage section: Data Breach Response and Crisis Management,
Business Interruption and Extra Expenses
Business size: Medium

A client organization suffered a ransomware attack which caused its e-commerce website
to crash and go offline for several business days. The website crash prevented the sale
of medical products and repair services. The organization did not pay the threat actor’s
demand and instead opted to restore from backups. Additionally, approximately 1TB
of data was exfiltrated in the incident. The client retained incident response vendors to
restore their network and assess the business interruption.

Food & Beverage
Total payout: $10,000,000
Coverage section: System Failure
Business size: Large

The client, a food company, experienced a system failure that caused outages which
impacted production and sales for several weeks. The coverage for system failure was
triggered. After forensic accountants reviewed the submission, the entire limit of $10M
was paid out.

DOWNLOAD THE BROCHURE

* Figures and findings from Cost of a Data Breach Report 2024 - IBM

Subscribe to Fast Fast Forward

Global Asset Protection Services, LLC, and its affiliates (“AXA XL Risk Consulting”) provides risk assessment reports and other loss prevention services, as requested. In this respect, our property loss prevention publications, services, and surveys do not address life safety or third party liability issues. This document shall not be construed as indicating the existence or availability under any policy of coverage for any particular type of loss or damage. The provision of any service does not imply that every possible hazard has been identified at a facility or that no other hazards exist. AXA XL Risk Consulting does not assume, and shall have no liability for the control, correction, continuation or modification of any existing conditions or operations. We specifically disclaim any warranty or representation that compliance with any advice or recommendation in any document or other communication will make a facility or operation safe or healthful, or put it in compliance with any standard, code, law, rule or regulation. Save where expressly agreed in writing, AXA XL Risk Consulting and its related and affiliated companies disclaim all liability for loss or damage suffered by any party arising out of or in connection with our services, including indirect or consequential loss or damage, howsoever arising. Any party who chooses to rely in any way on the contents of this document does so at their own risk.

US- and Canada-Issued Insurance Policies

In the US, the AXA XL insurance companies are: Catlin Insurance Company, Inc., Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company and T.H.E. Insurance Company. In Canada, coverages are underwritten by XL Specialty Insurance Company - Canadian Branch and AXA Insurance Company - Canadian branch. Coverages may also be underwritten by Lloyd’s Syndicate #2003. Coverages underwritten by Lloyd’s Syndicate #2003 are placed on behalf of the member of Syndicate #2003 by Catlin Canada Inc. Lloyd’s ratings are independent of AXA XL.
US domiciled insurance policies can be written by the following AXA XL surplus lines insurers: XL Catlin Insurance Company UK Limited, Syndicates managed by Catlin Underwriting Agencies Limited and Indian Harbor Insurance Company. Enquires from US residents should be directed to a local insurance agent or broker permitted to write business in the relevant state.