AXIS Capital introduces cyber risk platform to policyholders

AXIS PRO, a professional lines division of Bermuda-based AXIS Insurance, along with BitSight, a provider of cybersecurity ratings, are making BitSight Security Ratings available to certain AXIS policyholders, empowering their efforts to reduce their cyber risks.

From November 1, 2016, all AXIS PRO primary policyholders in the US can request their BitSight Security Rating. This information will be available for no additional premium and includes a BitSight report of the policyholder’s security rating. The policyholder will also have the option to request trial access to the BitSight Security Ratings Platform.

“BitSight already provides our underwriters with the ability to remotely view how our insureds are specifically affected by malware and ransomware, as well as the ability to examine individual infections and other vulnerabilities. Simply put, BitSight improves the speed at which we are able to examine risk,” said Meghan Hannes, cyber product manager at AXIS Insurance.

“With the rollout of this policyholder benefit, we are supporting our clients in their efforts to dynamically manage their own cybersecurity risks and the risks across their entire ecosystem.”

Ira Scharf, general manager and vice president of Worldwide Cyber Insurance for BitSight, said: “AXIS is an insurance provider that stands apart for both its leadership in the cybersecurity space and for the very high priority that it places on client service. We are very proud to work alongside AXIS PRO to support its efforts to bring innovation to its insureds.”