Aig private client group, a division of the member companies of american international group, inc. About cyberedge group research highlights current security posture v rising attacks. All cyberedge clients have access to the following services at a preferred rate. Products and services are written or provided by subsidiaries or affiliates of american international group, inc. Responses from 1,100 qualified it security decision makers and practitioners all from organizations with more than 500 employees representing 15 countries across north america, europe, asia pacific, the middle east, latin america, and africa representing 19 industries introduction.
Jul 20, 2016 aig rolled out a new standalone cyber policy that provides primary insurance protection for a wide range of related risks. The decline in real estate prices and the market value of mortgage backed securities. Aig launches family cyberedge to counter cyber attacks. In april, 2017, the company introduced a product called family cyberedge, an extension of the cybersecurity insurance it already offered to businesses and organizations. About aig aig is the worlds largest insurance organization, serving more than 88 million customers in over countries and jurisdictions around the world. Aig has a dedicated claims team in australia offering rapid response and guidance in the event that a cyber matter is notified. Cyberedge covers losses directly resulting from system failures and data breaches. Aigs hundreds of regulators aig entity regulator aig holding company office of thrift supervision domestic insurance companies state insurance regulators foreign insurance companies foreign insurance regulators aig federal savings bank office of thrift supervision aig securities lending corp. Aig american general introduces next generation of index.
Gebruik adobe acrobat om alle pdf functies te benutten. For additional information, please visit our website at. This also includes the cost of an investigation to determine the cause of the threat. One of the providers of cybersecurity insurance for individuals is insurance giant aig. Aig private client group has joined forces with cyberscout to bring clients world class cyber and identity theft protection services 1.
Family cyberedge is an innovative, prevention focused insurance offering designed to cater to the most relevant cyber risks clients face today including expenses for. Aig, accounting for approximately 22% of the market, chubb. Aig, is pleased to offer a range of coverage options to supplement your homeowners insurance. Like many of aigs coverages, the product is customizable to fit a clients specific desires. Jul 19, 2016 aig is the marketing name for the worldwide propertycasualty, life and retirement, and general insurance operations of american international group, inc.
Aig has responded to this demand by creating cyberedge, a comprehensive risk management solution for cyber insurance offered through various of its. Aig american general introduces next generation of index interest universal life products aig elite global plussm and aig elite global survivorsm offer greater flexibility in addition to popular global indexing feature houston, august, 2008. The first cyber insurance ci policies were developed for businesses in the late 1990s because of the multitude of emerging technologies that were present at that time, most notably the internet. Insurance covers all coverages under this section 1 insurance covers of the policy are written specifically on a primary basis and are provided solely for claims first made against aninsured and other insured events first arising during the policy period and reported to the insurer as required by this policy. 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. The purpose of the academically or intellectually gifted aig program is to provide an appropriately challenging educational program for students who perform, or show potential for performing, at remarkably high levels of accomplishment when compared to others of their age, experience, or environment. Helping clients stay ahead of risk and serving as their partner in times of need is why aig is here. Family cyberedge helps policyholders whove been victimized by cyber threats such as extortion and bullying.
In connection with the business entitys application for vendor certification by american international group companies aig to provide service to aig, a consumer report, as this term is defined in the federal fair credit reporting act as amended fcra, 15 u. Aig recently launched family cyberedge to offer cyber protection to the high net worth individuals and families covered under aig private client group. The new aig product, known as cyberedge plus, is intended to offer broader and clearer coverage for harms that had previously raised issues with insurers over the scope of available coverage. Cyberedge is a comprehensive risk management solution for cyber insurance offered by aig. Our insurances products are designed and backed by aigs customerfirst service, and efficient online compensation processing.
Aig launches primary cyber coverage for property and. Aig launches cyberbi and pd policy hunton insurance. Why aig insight after a cyberattack, organisations will require a range of services to get their business back on track. Confronted with expanding regulatory regimes and increasingly interconnected economies, global businesses consistently turn to our renowned product range and geographical reach to meet their insurance needs. Aig understands this and provides a package of protection that includes insurance and specialist advice.
Cyberedge is backed by aig s multinational expertise. The policyholder is to disclose in this proposal form, fully and. Other forms of personal cyberattack are less wellknown, but are broken down by aig with this set of case studies. Building on 100 years of experience, today aig member. Aig today announced it has launched cyberedge plus, a standalone policy specifically designed to provide cli. There are two coverage options available, premium and ultimate. And we are proud to have received a 2017 marcom platinum award for our. In a rapidly changing landscape, cyberedge provides innovative protection to help businesses safeguard against sensitive data breaches personal. Microsoft first cloud vendor to receive aig endorsement with.
Aig australia is an australian general insurer and subsidiary of american international group, inc aig. Aig rolled out a new standalone cyber policy that provides primary insurance protection for a wide range of related risks. The insurance giant is marketing cyberedge plus as offering primary. Costs for it forensic costs are covered as well as legal expenses resulting out of liabilities to third parties. Founded in 1919, today aig member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. Coverage cyberedge is a specially designed solution which addresses the liability of companies arising from data protection laws, the. Aig presentation university of california, berkeley. Cyberedge plus combines aigs cyber insurance and risk mitigation offerings to provide coverage for property damage, bodily injury. Family cyberedge is automatically included in all new business and renewal policies with an effective date from 9 december 2019. Among the expenses eligible for reimbursement under this coverage are data restoration, crisis management and reputation management.
Family cyberedge is available as an endorsement to aigs homeowners product. Lowcost travel insurance available for the individual, family. The cyberedge mobile app combines the latest cyber news, opinion and risk analysis with real time updates on data breaches, putting th. Whether you reside on the coast, in the mountains, in a gated community or all of the above, aig private client group has the ability to handle complex insurance needs. Aig businesses are market leaders in property casualty insurance, life insurance and retirement services, mortgage insurance, and aircraft leasing. Microsoft first cloud vendor to receive aig endorsement.
Aig private client group is a division of the member companies of american international group, inc. Now in its fifth year, the cdr has become a staple among it their internal practices and security investments against their peers now across 17 countries and 19 industries. Cyber liability insurance from aig in south africa. In a rapidly changing landscape, cyberedge provides innovative protection to help companies safeguard against sensitive data breaches, computer hacking, dumpster diving, computer viruses, employee sabotage or error. Aig is dedicated to enhancing our customers peace of mind with our insurance protection for when the unexpected happens. High value home insurance aig private client group. The cyberedge mobile app is a sophisticated, industry leading tool designed to keep you abreast of and uptodate with the rapidly changing cyber security landscape. In europe, the principal insurance provider is aig europe limited. Family cyberedge is a new coverage section automatically included within the private client group home insurance product. As digital threats grow, will cyberinsurance take off. Family cyberedge helps you stay ahead of potential online threats, and facilitates your financial and. Covers personal data liability the insurer will pay on behalf of any insured all loss from any claim arising out of an actual or alleged breach of personal.
See our cyber coverage guide for guidance on the best fit for your company. Aig launches commercialquality cyber product for high net. Monitoring draws from three credit bureaus, public and court records, and additional personal data records. Nearly four in five respondents organizations were affected by a successful cyberattack in 2016, with a full third being breached six or more times in the span of a year page 6. Content analysis of cyber insurance policies federal trade. Coverage is provided for landscaping, breakage of fragile items, and damage caused by domestic pets. Aig s team of cyber risk consultants brings over 50 years combined experience in it security to help our clients stay ahead of their cyber risk. Cyberedge, our endtoend cyber risk management solution provides you access to tools, products, and resources from some of the worlds leading cybersecurity, law, and public relations firms.
Why not listen to some of our customers experiences below. Aig also offers coverage enhancements for network interruption and extortion. The cyberedge risk appetite guide was designed to briefly explain why. Aig offers cyber insurance for property and liability risks. As participants in the financial services charter, aig. Corporate data risk, business interruption, cyber extortion, and more. For additional information, please visit our website at registered in england. We are one of the largest general insurance companies in singapore offering innovative solutions to the changing needs of individuals and corporate clients. Aig has been protecting companies against cyber risks since the late 1990s when the cyber insurance industry was in its infancy. Aig launches commercialquality cyber product for high. Family cyberedge helps you stay ahead of potential online. Apr 03, 2017 aig is offering the new product, called family cyberedge, to policyholders of its private client group who are victims of threats including cyber extortion and cyber bullying. Aig offers reduced rate access to k2 intelligence which includes a holistic assessment, best practices and training for family members, and more. Protect your virtual world american international group.
Aig is the marketing name for the worldwide propertycasualty, life and retirement, and general insurance operations of american international group, inc. If this your first time here, please complete the fields below to register. These rating downgrades to the singlea level triggered collateralization. Family cyberedge also includes automatic credit monitoring in the aftermath of a cyberattack for up to two family members per household, through aigs identity service provider cyberscout. Aig family cyberedge covering four focus areas cyber extortion, data restoration. The multinational insurance corporation will now include a microsoft cloud endorsement with its cyberedge insurance policy, which will allow new or renewing aig cyberedge customers using.
The best risk management insurance company in 2017 cyberedge. Cyberbullying cyber extortion data restoration reputation management. Our team works directly with cyberedge insureds to provide detailed, technical expertise and consulting services. Pdf whitepaper cyber and data security risks and the. Expert consultants coverage includes access to expert consultants to deal. Cyberedge is designed to respond to a variety of cyber risk exposures not covered under conventional property and casualty insurances. Building on 100 years of experience, today aig member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in. Aig is offering the new product, called family cyberedge, to policyholders of its private client group who are victims of threats including cyber extortion and cyber bullying.
Aig sells the family cyberedge coverage to wealthy clients and their families. Building on 100 years of experience, today aig member companies provide a wide range of property casualty insurance, life insurance, retirement products. Cyberedge mobile app for iphone, ipad, and android the cyberedge mobile app combines the latest cyber breach information, news, opinion, and risk analysis users want at their fingertips. Insurance covers all coverages under this section 1 insurance covers of the policy are written specifically on a primary basis and are provided solely for claims first made against aninsured and other insured events first arising during the policy. Policies are underwritten by member companies of aig, including aig property casualty company.
Our cyberedge claims hotline is available 247 at 1800cybr345 18002927345. Aig recently launched family cyberedge to offer cyber protection to the high net worth individuals and families covered under aig. Founded in 1919, today aig member companies provide a wide range. Cyberedge insurance proposal form aig malaysia insurance berhad 795492w, level16, menara worldwide, 198, jalan bukit bintang, 55100 kuala lumpur, malaysia. Cyberedge risk appetite guide 22,000 companies and 20 million people have entrusted their cyber security risks to aig. With a sleek look and many features globalized, the app is the firstofitskind and available for iphone, ipad, and android. Aig latest to bring cyber insurance to personal lines high. Once a call is made to the hotline, the cyberedge claims team will coordinate with the client to implement their response plan, engage any necessary vendors including breach counsel and forensics firms to identify immediate threats such as a hacker inside a network, and start the. Cyberedge clients can also improve their level of protection and. Commercial quality cyber coverage tailored for high net worth clients. Aig has underwritten thousands of cyber risk policies and has been handling cyberrelated claims for over 15 years, helping some of the largest companies respond to big data breaches.