AXIS Capital Holdings has announced the launch of a new insurance policy designed to provide cyber and specialist liability coverage for businesses in Canada with up to $2 billion in revenue.
The AXIS Cyber Technology and Miscellaneous Professional Liability (ACTM) policy combines multiple lines of coverage into a single policy framework. It is intended to help businesses address a range of cyber and professional liability exposures while reducing the risk of potential gaps in insurance protection.
The policy is available to small, mid-sized, and large companies across various industries in Canada and is offered through brokers. It is underwritten by AXIS Reinsurance Company (Canadian Branch).
ACTM offers a selection of coverages, including cyber incident response, triage, and support services through the Incident Commander platform. It also provides coverage for network interruption and a range of other cyber-related first-party and liability risks.
In addition, the policy includes Technology Errors and Omissions coverage for technology, telecommunications, and internet-based products and services. A third component, Miscellaneous Professional Liability, covers an array of professional services.
Michael McCallum, head of Cyber & Technology, Canada at AXIS, said the policy reflects the evolving nature of digital risks and the need for insurance products that respond to developments in technology and cyber threats. He stated that the ACTM policy is intended to give brokers and clients streamlined access to coverage for multiple exposures under one policy, allowing businesses to prepare for and manage cyber-related risks.
Brad Randell, head of insurance at AXIS Canada, said the introduction of ACTM expands the company’s portfolio of specialty insurance products in Canada. He noted that the new offering supports businesses as they navigate increasingly complex and changing risk environments.
AXIS Capital Holdings is a global specialty insurance and reinsurance provider headquartered in Bermuda. Founded in 2001, AXIS maintains a presence in key markets including North America, Europe, Asia, and Latin America. Its Canadian operations are conducted through AXIS Reinsurance Company (Canadian Branch), providing specialty insurance solutions to local businesses.
