CyberRiskConnect
CyberRiskConnect is a cyber insurance product underwritten by XL Insurance Company SE – Belgium Branch (AXA XL) (AXA group (France)), available in Belgium. It is aimed at mid-market companies, large enterprises and multinational groups. Coverage limits reach up to Up to €15M; bespoke above.. The policy extends beyond standard cyber liability with Cyber crime / FTF and GenAI coverage. Policyholders get 4 bundled proactive services — Incident response, Risk platform / portal, Pre-breach advisory and Crisis management — designed to reduce breach risk before a claim ever happens. The carrier holds an AM Best rating of A+ (Superior) – AM Best. The product signals support for NIS2/DORA regulatory requirements. It is distributed through insurance brokers.
Product Details§ 01
Advantages & Limitations§ 02
Advantages
- Legal underwriting entity for EU: XL Insurance Company SE (XLICSE) — Irish-domiciled Societas Europaea with branches throughout the EU (Austria, Belgium, Croatia, Czech Republic, Cyprus, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Romania, Slovenia, Spain, Sweden, Switzerland, Turkey, UK) plus Australia, Hong Kong and Singapore. Merged with AXA Corporate Solutions and AXA ART in Jan 2020.
- Product: CyberRiskConnect — AXA XL's flagship cyber and technology insurance policy. Confirmed from policy form TRD 050 0619 (X.L. America) and APAC/Europe product sheet (©2026).
- Standard coverage (per product sheet):
- — Technology Products & Services liability.
- — Professional Services liability.
- — Media liability.
- — Privacy & Security liability (incl. privacy regulatory defence, fines & penalties).
- — Data Breach Response & Crisis Management (18-month payment period).
- — Business Interruption & Extra Expenses (BI after waiting period; Extra Expenses after retention only).
- — Data Recovery.
- — Cyber Extortion & Ransomware (including digital currency payments).
- Endorsements available (separately priced):
- — PCI Fines & Penalties.
- — System Failure.
- — Dependent Business Interruption.
- — Bricking.
- — Voluntary Shutdown.
- — Utility Fraud (cryptojacking, telecommunications fraud).
- — Consequential Reputational Loss.
- — Generative AI Endorsement (launched 2024): covers data poisoning, regulatory violations, AI IP infringement from GenAI model development.
- — Construction Endorsement (APAC/Europe, Oct 2025): tailored for construction sector cyber risks (IoT, 3D modelling, AI-driven project mgmt).
- Pre-incident consultation: one-hour complimentary consultation with expert vendors; discounted proactive services.
- Vendor panel (confirmed from APAC/Europe product sheet):
- Legal/Breach Counsel: Kennedys, CMS, Clyde & Co, DAC Beachcroft.
- Data Recovery/Restoration: S-RM, Fenix24, Kroll, Consilio, Arete.
- Notification/Credit Monitoring: Experian.
- Digital Forensics/IR: S-RM, CrowdStrike, Kroll, Arete.
- Forensic Accounting: Baker Tilly, MDD.
- Public Relations: FleishmanHillard.
- CyberRiskConnect eRiskHub (cyberriskconnect.eu): policyholders get complimentary access to risk intelligence portal.
- Global reach: 200+ countries and territories; local claims teams in APAC and Europe (confirmed per product sheet contact directory).
Limitations
- Mid-market to large enterprise focus — not designed for micro-SME (no simplified SME product in the CyberRiskConnect APAC/Europe line; AXA national entities serve SME via separate products).
- Maximum published capacity: up to EUR/AUD/SGD 15M on primary or excess basis; higher limits are bespoke and subject to underwriting.
- Cyber crime (social engineering, FTF), system failure, dependent BI, bricking, voluntary shutdown, and reputational loss are endorsements — not automatic.
Contact & Response§ 03
Frequently asked questions§ 04
+Who is CyberRiskConnect designed for?
CyberRiskConnect by XL Insurance Company SE – Belgium Branch (AXA XL) targets mid-market companies, large enterprises and multinational groups in Belgium. Geographic scope: Global..
+What proactive security services are included with CyberRiskConnect?
The policy bundles 4 proactive services: Incident response, Risk platform / portal, Pre-breach advisory and Crisis management. These preventive services are typically included in the premium.
+Does CyberRiskConnect help with NIS2 or DORA compliance?
XL Insurance Company SE – Belgium Branch (AXA XL) indicates the following NIS2/DORA support for this product: NIS2 and DORA compliance advisory included..
+How can I buy CyberRiskConnect in Belgium?
CyberRiskConnect is sold through insurance brokers — broker contact: https://axaxl.com/broker-partner-resources. Compare it with alternatives in Belgium on Ryskly before approaching a broker.