Bermudian-based Axa XL has partnered with Darkweb IQ, the cybercrime prevention firm, to help its global cyber insurance clients to strengthen their cybersecurity practices.

Axa XL said New York-headquartered Darkweb IQ is an offensive cybercrime prevention firm protecting companies from ransomware, data theft, and third-party risks.

In collaboration with law enforcement and the cyber insurance industry, Darkweb IQ infiltrates cybercriminal supply chains to gain exclusive visibility into and intercept imminent ransomware attacks.

Tim Smit, global head of cyber-risk strategies and partnership programmes, 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."

Mr Smit added: “Their ransomware detection and response solution can be instrumental in intercepting attacks before data theft or encryption occur, providing vital cyber protection for businesses.

“Another available service ― supply chain security-plus ― adds an extra layer of defence, safeguarding against disruptions and data theft resulting from attacks on critical third-party vendors and suppliers.

“Utilising their expertise is essential in fortifying our defences and mitigating the risks posed by cyber threats."

Axa XL said it offers a range of cyber insurance products and services to help businesses protect themselves against cyberthreats.

Offerings include coverage for investigating and managing cyber events, financial protection against liabilities, and risk management services to strengthen cybersecurity.