NEW YORK--(BUSINESS WIRE)--Jul. 19, 2016--
American International Group, Inc. (NYSE:AIG) today announced it has
launched CyberEdge Plus, a standalone policy specifically designed to
provide clients with primary insurance protection for a broad range of
cyber risks, including property damage, bodily injury, business
interruption, and product liability.
Using AIG’s cyber, casualty, and property capabilities, CyberEdge Plus
is the first primary coverage written by any carrier in a standalone
policy specifically to address these cyber exposures.
“Cyber is a peril. It can no longer be considered a risk covered by a
traditional network security insurance product,” said Tracie Grella,
Global Head of Cyber Risk Insurance, AIG. “Companies in all industries
need access to coverage for property and liability exposures that come
with cyber connectivity, and they need that coverage to start at the
To offer this coverage, AIG has combined its cyber insurance and risk
mitigation offerings and partnerships with the knowledge, data, and
experience developed over decades of underwriting, evaluating, and
mitigating property, casualty, and financial line risks.
AIG was the first carrier to offer cyber event protection for property
damage and bodily injury on an excess and difference-in-condition basis
through its CyberEdge PC policy, which was launched in 2014.
The company has been providing stand-alone cybersecurity insurance
coverage since the late 1990s to help customers manage risks and cover
costs associated with data breaches, from forensic investigations,
credit monitoring, and reputation management to business interruption,
and compliance with state breach notification laws.
As part of its cyber insurance coverage, AIG offers risk mitigation
expertise through a number of cyber specialists that can offer clients
independent analysis of their cyber-related exposures and related
coverage, as well as assistance with employee training, compliance,
threat intelligence, and incident response planning, among other client
American International Group, Inc. (AIG) is a leading global insurance
organization. Founded in 1919, today we provide a wide range of property
casualty insurance, life insurance, retirement products, mortgage
insurance and other financial services to customers in more than 100
countries and jurisdictions. Our diverse offerings include products and
services that help businesses and individuals protect their assets,
manage risks and provide for retirement security. 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
| YouTube: www.youtube.com/aig
| Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig.
These references with additional information about AIG have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160719005867/en/
Source: American International Group, Inc.
American International Group, Inc.
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