AXA XL has teamed up with Darkweb IQ to enhance cybersecurity practices for its cyber insurance clients by providing them with “preferential pricing” for the latter company’s services. 

Darkweb IQ specialises in safeguarding companies from various cyber threats, including ransomware, data theft and third-party risks.  

The cybercrime prevention specialist works with law enforcement and the cyber insurance industry to penetrate “cybercriminal supply chains”, enabling the prevention of ransomware attacks. 

According to AXAL XL cyber risk strategies and partnership programmes global head Tim Smit, Darkweb’s Ransomware Detection & Response solution prevents attacks before data is stolen or encrypted.  

Additionally, the Supply Chain Security+ service shields against disruptions and data breaches caused by attacks on key third-party vendors and suppliers, he said.  

AXA XL cyber insurance coverage supports the investigation and management of cyber incidents, financial protection against liabilities and risk management services. 

Smit said: “Partnering with cybersecurity experts Darkweb IQ enables us to provide comprehensive and effective solutions to our clients, helping them to safeguard their digital assets, data and operations from potential cyberattacks and data breaches. Access to a cyber expert like Darkweb IQ is crucial in helping our clients fight the ongoing battle against ransomware.” 

Last month, AXA XL appointed Simon Rees as its chief underwriting officer for North America Programmes. 

Rees, who has more than 20 years of industry experience, will take on the new responsibility from 1 April 2025.