Cyber threats can have serious consequences.
Risks range from loss of information on a single laptop to the threats posed by cloud computing. Businesses may also face issues regarding denial of service or defacement and disruption to their web presence.
Data leaks and data losses can lead to regulatory fines and PR nightmares. Cyber attacks could lead to shut-down servers, loss of confidence or loss of profits.
AIG has developed ‘CyberEdge’ – an innovative protection package designed to counter some of the potentially far-reaching consequences of data leaks and breaches.
Features & Benefits
Security & Privacy Liability Insurance
Coverage against third-party claims arising from a failure of the insured’s network security or a failure to protect personally identifiable information. The insurance also responds to regulatory actions in connection with a security failure, privacy breach or the failure to disclose a security failure or privacy breach.
Event Management Insurance
Coverage responds to a security failure or privacy breach, paying costs of notifications (including voluntary notifications), public relations and other services to assist in managing and mitigating a cyber incident. Forensic investigations, legal consultations and identity monitoring for victims of a breach are all included.
Network Business Interruption Insurance
Responds to loss of income and operating expenses when a company’s business operations are interrupted or suspended due to a network security failure.
Cyber Extortion Insurance
Responds to the threat of intentional security attacks against a company by an outsider attempting to extort money, securities or other valuables. Also includes the cost of an investigation to determine the cause of the threat.