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BOXX Insurance expands Cyberboxx Business with AI and deepfake coverage
The endorsement adds affirmative coverage for AI and deepfake losses and targets a policy “grey zone” where AI-driven incidents were previously unclear, while pairing it with BOXX’s First Party Each and Every Loss feature.
BOXX Insurance, a global cyber insurtech and part of Zurich Insurance Group, said it is adding affirmative coverage for AI and deepfake related events under its commercial Cyberboxx Business policy. The update is meant to remove ambiguity in cyber policy language around AI and deepfake losses that BOXX described as a “grey zone.”
BOXX linked the change to what it said are rising real world exposures. It cited Cisco’s 2025 Cybersecurity Readiness Index, saying 86% of US business leaders with cybersecurity responsibilities reported at least one AI related incident in the past 12 months, and it pointed to KPMG research in Canada showing 81% of Canadian businesses that experienced fraud in the past year also faced an AI enabled attack.
The insurer said the evolving sophistication of AI tools is changing how social engineering plays out, including through exploitation of trusted relationships among employee and executive networks that can lead to credential handovers or misdirected payments without a systems breach. In response, BOXX updated its policy language to address the risks it said businesses and employees face in the age of AI.
BOXX also said the new AI and deepfake coverage works alongside its existing First Party Each and Every Loss feature, which reinstates the policy’s aggregate limit of liability after each cyber incident so coverage remains available for the rest of the policy term. The announcement comes as BOXX noted fraud losses in Canada have intensified, including an Anti Fraud Centre estimate of roughly $643 million in fraud losses in 2024, up nearly 300% since 2020.