AXA XL affixes cyber cover to lawyers’ E&O program
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
