AXA XL adds first-party cyber option to Platinum Property coverage

Insurance Business America | April 25, 2019

AXA XL, a division of AXA, has announced the launch of a first-party cyber insurance option for its Platinum Property clients in the US – businesses that buy 100% of their property coverage from AXA XL. “Demand for cyber insurance is growing with good reason,” said Michele Sansone, president of AXA XL’s North America property insurance business. “Virtually every organization has some cyber exposure. Our clients will now have the confidence to know that their business interruption exposures are adequately managed with coverage for cyber and property on one policy form providing a comprehensive solution for first-party loss and a streamlined claims process.” “A cyber event can put a business at a standstill for hours or days,” said John Coletti, AXA XL chief underwriting officer for cyber and technology in North America. “Traditional business interruption is caused by physical damage from a named peril like windstorm, fire or flood. Ingress/egress coverage and civil authority is addressed in standard commercial property coverage.

Spotlight

In the wake of rapidly-evolving customer expectations, an ongoing industry-wide digital transformation, and the rise of insurtech firms, innovation and technology have become watchwords for today’s global insurance industry. The challenge facing large, established incumbents such as Zurich is how to innovate effectively and whether external collaboration could have a significant impact on driving innovation as opposed to trying to go it alone.

Spotlight

In the wake of rapidly-evolving customer expectations, an ongoing industry-wide digital transformation, and the rise of insurtech firms, innovation and technology have become watchwords for today’s global insurance industry. The challenge facing large, established incumbents such as Zurich is how to innovate effectively and whether external collaboration could have a significant impact on driving innovation as opposed to trying to go it alone.

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CORE INSURANCE,AUTOMOBILE INSURANCE

Wejo and Ford Team Up to Expand End-to-End Insurance Offerings Across U.S.

Ford Motor Company and Wejo | November 30, 2022

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HEALTH INSURANCE,INSURANCE TECHNOLOGY

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Triton Benefits & HR Solutions | December 15, 2022

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INSURANCE TECHNOLOGY

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PolicyMe | November 08, 2022

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