Axio And Dragos Link OT Risk Data To Cyber Liability Insurance Underwriting

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Axio and Dragos have teamed up to improve security and insurance for operational technology. Their goal is to put a dollar value on operational technology (OT) cyber risk and help insurers underwrite cyber-physical losses more accurately.

“It’s an honor to partner with the world’s leading industrial security company, especially at this moment in time. We’re seeing significantly increased demand for cyber physical insurance products, and this partnership will help our broker and insurer partners to deliver advanced cyber risk transfer solutions”, said Scott Kannry, co-founder and CEO of Axio.

Axio and Dragos logos illustrating a partnership focused on cyber liability insurance and operational technology risk quantification

Integration Connects Intelligence To Financial Models

Axio will add Dragos threat intelligence to its Cyber Risk Quantification models. The Dragos Platform will give risk reduction metrics. Together, this data connects OT threats to the potential impact of losses.

“Helping industrial organizations quantify and qualify their risks is a strategic imperative of Dragos, and it became clear that partnering with Axio to help translate our intelligence into financial insights would immediately benefit our customers,” said Mark Stacey, VP of Risk and Resilience Solutions at Dragos.

Why This Matters For Cyber Liability Insurance

The partnership is meant to close gaps in cyber liability insurance for OT environments. Insurers often have trouble with risks like operational disruption and cyber-physical damage. The companies say their new approach will help cover these issues, including business interruption and cyber-physical insurance claims.

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Expected Outcomes For CISOs And Risk Managers

Security teams will be able to turn OT cyber risk and threats into financial estimates that are ready for board review. Risk managers can measure the return on investment from their risk reduction work. The model is designed to help guide decisions about investing in operational resilience.

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Implications For Brokers And Insurers

Axio and Dragos believe their combined insights will help brokers and insurers create better cyber risk insurance policies. They are focusing on OT cyber coverage, where losses can grow quickly. The company sees this integration as a move toward fairer and more reliable cyber insurance pricing and limits.

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.

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