Fast Company reports American International Group is releasing a new set of insurance policies designed to cover cyberattack risks. AIG said CyberEdge Plus covers risks “including property damage, bodily injury, business interruption and product liability.” While AIG already offers insurances for data breach risks, the company said CyberEdge Plus is the first coverage written by any carrier specifically related to the risks involved in a cyberattack. "Coverage limits are available up to $100 million,” said AIG’s Global Head of Cyber Risk Insurance Tracie Grella, "but will depend on industry, risk management controls, capacity already exposed to a particular risk and ventilation between layers."
Full Story