Axon Launches Cyber Insurance Program for SMEs

Axon Underwriting Services, a specialty lines program administrator, has added CyberAdvantage to its suite of specialized insurance products for small to medium size enterprises (SME).

The proprietary cyber liability program is backed by Lloyd’s of London and responds to client breach and ransomware incidents providing response services, defense cost, business interruption, data recovery and credit monitoring coverage. Clients also have access to Axon’s claims team and outside legal resources, including pre- and post- breach resources.

Doug Gahagan, executive vice president and partner, said the product also expands Axon’s relationship with Lloyd’s of London and is one of several specialty products currently under consideration that will be backed by Lloyd’s.