Axis Insurance is to support UK-based The Cyber Helpline in an effort to align the cybersecurity community and help individuals impacted by cyberattacks.

The speciality insurance business segment of Bermudian-based Axis Capital Holdings Ltd said the year-long sponsorship will enable Axis and The Cyber Helpline to share their expertise and raise additional funds to support more cybersecurity victims.

Axis said the scale and severity of cybercrime has increased rapidly over the last 12 months and The Cyber Helpline has seen a 362 per cent increase in cases compared to the previous 12 months.

Victims who contact The Cyber Helpline can liaise with a chatbot that provides anonymous expert advice 24/7, or they can connect directly with expert volunteers from the cybersecurity community.

The helpline ensures that victims understand what has happened, contain the issue, recover and learn how to better protect themselves in the future.

Stuart Quick, cyber centre of excellence lead for cyber and technology at Axis, said: “We are delighted to be affiliated with The Cyber Helpline. This sponsorship provides an opportunity to leverage our experience in handling complex cyber-risks to help individuals who have been victims of cyber attacks.”

Rory Innes, founder and chief executive officer of The Cyber Helpline, said: “The Cyber Helpline takes a community-driven approach to helping victims of cybercrime and we are excited about Axis joining that community.

“The sponsorship from Axis will ultimately enable us to support more victims, gain a deeper understanding of cyber-risks and access a wider team of experts.”

Axis Capital, through its operating subsidiaries, is a global provider of speciality lines insurance and treaty reinsurance with locations in Bermuda, the United States, Europe, Singapore and Canada.

The Cyber Helpline is a movement by the information security community to step up and fill the gap in support for victims. It provides a free, confidential helpline for individuals and sole traders who have been a victim of cybercrime or online malicious behaviour and helps victims understand, contain, recover and learn from cyber attacks.