NEW YORK--(BUSINESS WIRE)--Apr. 28, 2015--
With cyber risk rapidly becoming a top-of-mind concern for senior
executives and boards across industry segments, American International
Group (NYSE: AIG) today announced key new partnerships with leading
cybersecurity experts to expand the risk mitigation and prevention
services it offers cyber insurance clients.
The partnerships include: K2 Intelligence, BitSight Technologies, RSA,
and Axio Global. Services from these partners complement AIG’s market
leading CyberEdge® risk management and insurance product,
which helps clients manage the expanding threat of cybersecurity attacks
Through these partnerships, AIG CyberEdge policyholders can access
pre-breach threat intelligence, governance tools, and the latest best
practices to help gain a holistic understanding of their cybersecurity
exposure, including the responsiveness of their insurance program to a
“The threat of cyber attack continues to grow. Companies are becoming
more aware that the costs can be steep for those that fail to
understand, mitigate, and transfer cybersecurity risk,” said Tracie
Grella, Global Head of Professional Liability, AIG. “Partnering with
leading cybersecurity firms provides our clients with another layer of
expertise and protection to help mitigate and manage this growing and
AIG is making the following new services available to its CyberEdge
Customized threat intelligence from K2 Intelligence. A
long-standing expert investigative and intelligence firm, K2
Intelligence uses sophisticated intelligence gathering techniques and
investigative tools to collect and analyze chatter about an
organization from the deep web and dark net, hidden areas of the
Internet where cyber criminals are known to conduct business.
Companies can leverage K2 Intelligence’s proprietary tools and
best-of-breed tradecraft to perform due diligence when engaging in a
merger or acquisition, or to manage its overall cyber risk.
BitSight Security Ratings by BitSight Technologies. A
well-known security rating expert, BitSight analyzes externally
observable data such as botnets, malware, and spam, to continually
rate a company’s cybersecurity posture. When a company’s or a vendor’s
security rating changes, it may be a signal that their systems have
Cybersecurity maturity assessment by RSA. The security division
of EMC and developer of RSA Archer®, a leading governance, risk, and
compliance (GRC) solution, RSA leverages the NIST Cybersecurity
Framework to help companies identify key functional areas of
improvement to achieve an improved cybersecurity risk posture.
Consultation with Axio Global, experts in developing complete
cyber risk management solutions. Through an approach that integrates
exposure quantification, program evaluation, benchmarking, and the
deployment of appropriate insurance coverage, Axio’s work addresses
the full range of potential cyber losses, including physical damage,
bodily injury, environmental damage, and other advanced forms of loss.
AIG’s qualified CyberEdge clients also continue to have access to the
existing services of RiskAnalytics and IBM. RiskAnalytics provides
clients with the active detection, intelligence, and shunning of IP
addresses that are known cyber threats. RiskAnalytics also helps
companies manage the human, legal and financial elements of risk,
through training, policy and education. IBM provides qualified CyberEdge
policyholders with pre-breach services to determine system
vulnerabilities before they can be exploited and staffs a Cyber 911
hotline for CyberEdge policy holders.
AIG has been providing stand-alone cybersecurity insurance coverage
since 1999 to help customers manage risks associated with data breaches
by covering costs of forensic investigations, credit monitoring,
reputation management, business interruption, and compliance with state
breach notification laws.
American International Group, Inc. (AIG) is a leading global insurance
organization serving customers in more than 100 countries and
jurisdictions. AIG companies serve commercial, institutional, and
individual customers through one of the most extensive worldwide
property-casualty networks of any insurer. In addition, AIG companies
are leading providers of life insurance and retirement services in the
United States. AIG common stock is listed on the New York Stock Exchange
and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com
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AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all countries, and coverage is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties. Certain property-casualty coverages may be
provided by a surplus lines insurer. Surplus lines insurers do not
generally participate in state guaranty funds, and insureds are
therefore not protected by such funds.
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