AXIS Insurance and BitSight empower clients to reduce cyber risks, provide security ratings to select policyholders
AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE:AXS), today announced that AXIS PRO (a professional lines division of AXIS Insurance) along with BitSight, the leading provider of cybersecurity ratings, are making BitSight Security Ratings available to certain AXIS policyholders, empowering their efforts to reduce their cyber risks.
Beginning November 1, 2016, all AXIS PRO primary policyholders in the United States 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, 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.”
“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,” said Ira Scharf, General Manager and VP of Worldwide Cyber Insurance for BitSight. “We are very proud to work alongside AXIS PRO to support its efforts to bring innovation to its insureds.”
About AXIS Capital
AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at June 30, 2016 of $6.0 billion and locations in Bermuda, the United States, Europe, Singapore, Middle East, Canada and Latin America. Its operating subsidiaries have been assigned a rating of “A+” (“Strong”) by Standard & Poor’s and “A+” (“Superior”) by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com. Please be sure to follow AXIS Capital on LinkedIn.
About BitSight
BitSight is transforming how companies manage information security risk with objective, verifiable and actionable Security Ratings. Founded in 2011, the company built its Security Ratings Platform to continuously analyze vast amounts of external data on security issues and behaviors in order to help organizations manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk. Seven of the top 10 cyber insurers, 60 Fortune 500 companies, and 3 of the top 5 investment banks rely on BitSight to manage cyber risks. For more information, please visit www.bitsighttech.com, read our blog or follow @BitSight on Twitter.
