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AXA XL Expands Cyber Insurance for SMBs Amid Soaring Ransomware Threats – Key Hire Announced

Posted on April 30, 2025April 30, 2025 By Martin Hinton
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.

AXA XL logo featured in an article about AXA XL cyber insurance for SMBs, including small business cyber coverage, SME cyber risk protection, and cybersecurity insurance for midsize enterprises
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)

Martin Hinton

Martin Hinton is the Executive Editor and Publisher of Cyber Insurance News and Information. With over three decades of journalism experience across six continents, his work encompasses investigative reporting, documentaries, and coverage of cultural, political, and business news. To learn more about his career, click on his name to visit his LinkedIn page.

Cyber Insurance for SMEs/SMBs, Cyber Insurance People, Cybersecurity for SMBs, Small Business Tags:AXA XL, cyber insurance, Cyber Risk, Data Breaches, Michelle Aliperti, Ransomware, small businesses, SMBs, Verizon DBIR

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In this clip from our latest podcast episode, Dan Candee, CEO of Cork Protection, dives into a critical topic that hits close to home: Cybersecurity for Main Street businesses.

🛡️ With a background in enterprise-level cybersecurity on Wall Street and a personal connection to small business through his family, Dan shares why Cork focuses on protecting small and mid-sized businesses from rising cyber threats.

🚨 "The threat actors are getting better, and they're coming after Main Street more and more."

👉 Discover why Main Street is being underserved in today's digital threat landscape and how Cork is filling that gap with a unique value proposition.

🔗 Learn more about Cork: corkinc.com
🎧 Full Podcast Episode: www.youtube.com/@CyberInsuranceNews/podcasts

📣 Don't forget to LIKE, SUBSCRIBE, and hit the 🔔 notification bell so you never miss a powerful conversation.

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Cybersecurity for Main Street: Dan Candee on Protecting Small Businesses | CEO of Cork Protection
SMB Cyber Threats - In this episode of the Cyber Insurance News Podcast, host Martin Hinton talks with Dan Candee, CEO of Cork Protection, about the rising tide of cyber threats targeting small and mid-sized businesses (SMBs). Dan shares his journey from Main Street entrepreneur to cybersecurity leader, offering real-world insight into the threat landscape, financial vulnerabilities, and how AI and managed service providers (MSPs) can help fortify business resilience.

We explore:
• Why Main Street is more vulnerable than Wall Street
• Common SMB cybersecurity blind spots (like ACH fraud)
• The evolving role of managed service providers
• How Cork Protection blends cybersecurity and cyber insurance
• Real-world attack case studies and practical advice for SMBs

Whether you’re a small business owner, MSP, or cyber pro, this episode unpacks how to prepare, prevent, and protect your organization in today’s digital world.

📌 Topics: cybersecurity, cyber insurance, social engineering, SMB protection, ransomware, AI in security, MSPs

🎙 Guest: Dan Candee, CEO of Cork Protection
📢 Host: Martin Hinton, Executive Editor, Cyber Insurance News

👉 Don’t forget to like, comment, and subscribe for more insights on cyber insurance and digital defense!

#CyberSecurity #CyberInsurance #SMB #AI #CyberPodcast #BusinessResilience #smallbusiness #sme
00:00 Introduction - Dan Candee and Cork Protection
02:27 The Importance of Cybersecurity for Small Businesses
05:29 Understanding Cyber Threats and Their Impact
08:26 The Role of Managed Service Providers in Cybersecurity
11:24 24Financial Protection and Cyber Insurance Solutions
14:01 Leveraging AI in Cybersecurity
16:53 Navigating Cyber Insurance Policies
19:56 Empowering Small Businesses with Knowledge
21:52 The Future of Cybersecurity and Community Resilience
26:05 MSP/ MSSP The Lingo decoded
29:05 Finals Thoughts and a bit of Hope!
SMBs Are Cyber Targets | Dan Candee on Cyber Resilience & AI | Cyber Insurance News Podcast EP#6
Cyberattack on Small Business is on the rise—and AI is making it worse. In this episode of the Cyber Insurance News Podcast, host Martin Hinton sits down with William Altman of CyberCube to unpack how AI is enabling threat actors to more efficiently target and exploit small businesses.

🔐 From credential stuffing to brute force attacks, William explains how cybercriminals use AI to bypass login portals and MFA solutions—putting millions of small business owners at risk.

🎙️ Timestamps:
0:00 - Introduction
6:26 - William Altman on AI and threat actors
6:50 - Credential stuffing, brute force & reused credentials
10:00 - What small businesses can do right now
14:20 - The future of AI in cybercrime

🎧 Don’t miss this crucial update on the cybersecurity landscape for small businesses. Subscribe and stay informed.

#cyberattack #smallbusiness #AI #cybersecurity #CyberCube
Cyberattack on Small Business: How AI Supercharges Cyber Threats | William Altman @CyberCube"
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