Axio Announces Access to CISO D&O Coverage for Eligible Customers

Business Wire

Axio, a leading SaaS provider of cyber risk quantification solutions, today announced that eligible Axio subscribers may access CISO Directors and Officers (“D&O”) coverage arranged through Aegis Executive Risks, in partnership with Underwriters at Lloyds of London.

This offering comes at a time of increasing concern amongst Chief Information Security Officers that their elevated roles and mission-critical cybersecurity responsibilities may expose them to increased scrutiny, including potential legal claims in some circumstances. That new reality, combined with uncertainty about inclusion in blanket corporate D&O policies, has raised concern that CISOs could face personal exposure if they are the target of legal action in the aftermath of a significant cybersecurity event.

Axio’s CISO D&O Coverage is designed to help address that concern and is expected to be available to eligible organizations with an active subscription to Axio360. Subject to underwriting approval, the CISO of the subscribing organization (or CISO equivalent), as well as specified direct reports, as determined under the policy. Eligibility requirements are expected to include an active Axio360 subscription and periodic reporting of top cyber risk scenarios to the Executive Team and/or Board of Directors, as applicable.

“It’s become clear based on our constant interaction with CISOs that they are very concerned about their own legal liability should their organizations suffer a material cyber event, despite their continual best efforts to keep the organization secure,” said Scott Kannry, co-founder and CEO of Axio. “Given Axio’s core value of giving CISOs a more effective perspective to understand top cyber exposures and better protect the enterprise, it became obvious that we could leverage our value to provide this much needed protection.”

“Partnering with Axio to offer a specific D&O policy for Chief Information Security Officers became a no-brainer once we gained an understanding of the gap in the marketplace, as well as how Axio enables CISOs to more effectively fulfill their core duty of care of guiding the cybersecurity program of their organizations,” says Jeff Hirsch, President of Aegis Executive Risks, a K2 Insurance Services brand. “We’re honored to facilitate much-needed protection for this group of executives whose roles are critical to fighting an ever-challenging battle and protecting our way of life.”

Coverage is subject to underwriting approval and all policy terms, conditions, limits, and exclusions. Availability may vary by jurisdiction and applicable regulatory requirements. For more information about the suite of offerings, please visit: www.axio.com

About Axio: Axio is the leader in SaaS-based risk management software, empowering security leaders to build and optimize security programs and quantify risk to better prioritize investments and make better decisions. Since 2013, Axio has been a trusted partner of the world’s leading critical infrastructure, manufacturing, and financial services organizations. Axio360 is the only risk management platform designed to align security leaders, business leaders, executives, and Boards of Directors around a common set of benchmarks, performance metrics, and a shared understanding of the most critical corporate risks. Learn more at http://www.axio.com.

About Aegis Executive Risks: Founded in 2024, Aegis Executive Risks by Aegis General Insurance Agency leverages a founding team with a collective 60 years of insurance experience and 30 years in management liability underwriting. This extensive expertise uniquely positions them to navigate any market environment with confidence. Their passion for profitable underwriting is matched by a commitment to delivering exceptional customer outcomes and products designed to meet customer needs.

Aegis Executive Risks is a K2 Insurance Services brand.