AXIS Insurance and Kennedys Law Launch New Marine Cyber Insurance Product

Company Release - 10/20/2020 9:00 AM ET

PEMBROKE, Bermuda--(BUSINESS WIRE)-- AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE:AXS), and Kennedys Law LLP, an international law firm, today announced a collaboration for services in connection with new the AXIS Marine Cyber Insurance product. This new product will provide insurance cover for the marine shipping market to protect against cyber exposures on board vessels and onshore in shipping company offices.

“The marine shipping insurance market dates back to the very origins of the insurance industry, and it’s under threat from one of the newest perils: cyber risk,” said Dan Trueman, AXIS Insurance Global Head of Cyber and Technology. “Through AXIS and Kennedys, policyholders will have access to an extensive network of experts to address the modern needs of shipping as cyber threats take center stage.”

The product will be available immediately for all new and renewing AXIS Cyber Marine Insurance policies. In conjunction with Kennedys, AXIS policies will feature four main pillars to provide a comprehensive approach to prepare, protect against and respond to cyber threats across the maritime industry:

  • A single dedicated point of contact always available to report a cyber incident and process insurance claims simultaneously.
  • An extensive network of marine, legal and technical experts in any part of the world at any time to aid recovery.
  • Support, if required, offering a range of assistance from system restoration, counsel and liaising with cyber experts.
  • Online cyber security awareness training for all maritime personnel, both onshore and offshore.

Jonathan Evans, Partner at Kennedys, said: “We are delighted that AXIS has chosen Kennedys to provide marine cyber incident response services, legal advice and ancillary services. AXIS policyholders anywhere in the world at any time can access a dedicated helpline to navigate their way through a cyber incident, whether that be on land or at sea, which is often a very daunting and challenging experience that requires immediate specialist advice and guidance from our global panel of experts.”

The AXIS Marine Cyber Insurance product will be underwritten and managed by its Global Cyber and Technology team in London.

About AXIS Insurance

AXIS Insurance – the insurance business segment of AXIS Capital Holdings Limited (NYSE: AXS) – provides Property & Casualty, Professional Lines, Terrorism, Marine, Renewable Energy, Aviation, Credit & Political Risk, Environmental, Accident & Health coverages and other customized insurance solutions. Our products are offered through our distribution partners, which include wholesale brokers, retail brokers and designated managing general agents/underwriters (“MGAs”/”MGUs”) in the U.S. and abroad. Coverages are backed by the financial strength and security of the AXIS Insurance Companies, rated “A+” (Strong) by Standard & Poor’s, and “A” (Excellent) by A.M. Best.

About AXIS Capital

AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders' equity at June 30, 2020 of $5.3 billion and locations in Bermuda, the United States, Europe, Singapore, Canada and the Middle East. Its operating subsidiaries have been assigned a rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com.

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About Kennedys Law LLP

Kennedys Law LLP is a leading global law firm specializing in litigation and dispute resolution that has 2,150 staff worldwide, with 40 offices in Auckland, Bangkok, Belfast, Bermuda, Birmingham, Bogotá, Bristol, Brussels, Buenos Aires, California, Cambridge, Chelmsford, Copenhagen, Dubai, Dublin, Edinburgh, Glasgow, Hong Kong, Illinois, Lima, Lisbon, London, Madrid, Manchester, Melbourne, Mexico City, Miami, Moscow, New Jersey, New York, Paris, Pennsylvania, Santiago, São Paulo, Sheffield, Singapore, Sydney, Taunton, Tel Aviv and Texas. Kennedys also has an active network of associate offices and co-operations around the world, situated in Beijing, Bologna, Calgary, Dominican Republic, Guatemala, Karachi, Kelowna, Milan, Mumbai, New Delhi, Oslo, Panama, Puerto Rico, Rio de Janeiro, Rome, Shanghai, Shenzhen, Stockholm, Toronto, Vancouver and Warsaw.

Kennedys’ client base includes domestic and international (re)insurers, Lloyd’s syndicates, central and government bodies and large corporate organizations (many of which are self-insured). Its lawyers provide a range of specialist legal services to industry sectors including insurance and reinsurance, aviation, banking and finance, construction and engineering, healthcare, life sciences, marine, public sector, rail, real estate, retail, shipping and international trade, sport and leisure, transport and logistics, and travel and tourism.

Kennedys is a trading name of Kennedys CMK LLP, a New Jersey limited liability partnership. Kennedys Law LLP, a UK Limited Liability Partnership, is a partner of Kennedys CMK LLP.

Investor Contact
Matt Rohrmann
AXIS Capital Holdings Limited
investorrelations@axiscapital.com
(212) 940-3339

Media Contact
Brian Price
AXIS Capital Holdings Limited
brian.price@axiscapital.com
(312) 609-6761

Source: AXIS Insurance