Demand Grows for Cyber Coverage
AXA XL is expanding its cyber insurance offerings to small and midsize businesses (SMBs). This move is designed to meet the growing demand for cyber coverage among SMBs and address the increasing threat of cyberattacks. This move follows alarming findings in Verizon’s 2025 Data Breach Investigations Report, which revealed that 88% of SMB cyber breaches involved ransomware, more than double the rate for larger firms.
New Leadership for a Critical Market
Michelle Aliperti has been appointed Head of SME at AXA XL in the Americas. Based in New York, she will lead efforts to broaden cyber and errors & omissions (E&O) coverage for smaller enterprises. Aliperti brings nearly 30 years of underwriting experience, including her most recent role managing E&O, Cyber, and Media portfolios at CNA.

Cyber Risks Rising
Verizon’s report analyzed over 12,000 breaches. The data confirms SMBs remain attractive targets due to limited cybersecurity infrastructure. The report emphasized ransomware, human error, and third-party vulnerabilities as top concerns for smaller businesses. Indicating a demand for AXA XL’s cybersecurity coverage.
Insider Errors and Social Engineering Persist
Sixty percent of breaches involved human mistakes. In EMEA, 29% of incidents involved internal actors, often due to misused privileges. Social engineering accounted for 19% of breaches in the same region.
Comment from AXA XL
Of AXA XL’s cyber insurance for SMBs and the new white Michelle Chia, Chief Underwriting Officer for Cyber, stated, “With Michelle on board, we are excited to expand our reach to new clients. We’re intent on meeting clients through nontraditional distribution channels while leveraging technology and other innovation to provide better solutions and response times.”
Other cyber insurance and cybersecurity coverage: AXA XL Bolsters Cyber Defenses with Appointment of Michelle Chia as Chief Underwriting Officer(Opens in a new browser tab)