AXA considering cyber attack insurance cover for UK

AXA is planning to offer cyber attack insurance in the UK.

AXA France chairman and chief executive Nicholas Moreau made the announcement during a meeting at the World Economic Forum in Davos.

Moreau said the policy, which is sold as an add-on to house insurance in France, was intended to clean up private images posted online rather than hide information legitimately published, the Guardian reports.

In the UK the insurer currently offers legal cover within a directors’ and officers’ (D&O) policy for losses caused by a policyholder’s electronic system.

A spokesman said: “AXA continues to evaluate new and emerging risks and markets to determine whether any would be suitable for product development.

“Cyber insurance is one such area which AXA is evaluating – not just in the UK but in other regions – and something we are currently piloting in France.   As soon as this evaluation has been completed, we will be in a position to announce our intentions.”

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