AXIS Insurance, the specialized insurance business division of AXIS Capital Holdings, is collaborating with the international law firm Kennedys Law to bring a new electronic insurance offering to the shipping market.
AXIS 'new electronic marine insurance product will provide insurance coverage to protect against cyber exposure on board and ashore at the offices of shipping companies.
The product will be available immediately for all new and renewed AXIS electronic marine insurance policies. In addition to insurance, AXIS policies will feature a cybersecurity response and a four-point preparation service offered in conjunction with Kennedys:
- There is always a dedicated point of contact available to report a cyber incident and handle insurance claims simultaneously.
- An extensive network of marine, legal and technical experts anywhere in the world at any time to assist in your recovery.
- Support, if required, offers a variety of system restore assistance, advice, and contact with experts on the Internet.
- Cybersecurity awareness online training for all marine personnel, both on land and offshore.
The product will be protected and managed by AXIS 'global Internet and technology team in London.
"The history of the marine transportation insurance market has its roots in the insurance industry and is threatened by one of the newest risks: cyber risks," said Dan Truman, director of global and cyber technology for AXIS Insurance. "Through AXIS and Kennedys, policyholders will have access to a broad network of experts to meet modern shipping needs as cyber threats take center stage."
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