AXA XL, AXA’s property and casualty insurance and special risks division, has added Cyber Suite, its cyber and security insurance, as an option to its Attorney’s Errors and Omissions (E&O) insurance program.
The move is intended to help law firms minimize the high financial costs and reputational risks associated with potential cyber incidents, according to the announcement.
New coverage is available under AXA XL Attorney Professional Liability Policy. Among them are data breach response costs, computer attacks, fraudulent payment fraud, computer fraud, and data breach liability.
Dwayne Johnson, Underwriting Manager for Lawyers’ Professional Liability business, commented: Lawyers rely on technology as much as any other profession.
“One cyber incident can seriously undermine everything a law firm has worked so hard to build. We combine our professionals and cyber insurance expertise to deliver cyber suite coverage, We are pleased to help our clients address today’s emerging online and technology-driven business exposures.”
AXA XL’s E&O insurance protects professional individuals and businesses against actual or alleged mistakes, errors, omissions, negligence or failures in providing advice or services to clients.