Category Archives: AiG

Data security disruptions can have cascading negative impacts

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Nine in 10 global cybersecurity and risk experts believe that cyber risk is systemic and that simultaneous attacks on multiple companies are likely in 2017, according to AIG. More than half of survey respondents say a simultaneous attack on five to 10 companies is highly likely in the next year. More than one-third estimate the likelihood of a simultaneous attack on as many as 50 companies at greater than 50 percent. Twenty percent see an … More → Continue reading Data security disruptions can have cascading negative impacts→

New insurance covers cyber risks for the wealthy

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Some of the wealthiest Americans can now expand their home insurance packages to include expert advice and technology for reducing their exposure to cyberattacks, as well as a variety of complimentary or reimbursable services if they do get hacked. AIG said it this week would be offering a “Family CyberEdge” product to existing customers of their Private Client Group, as an add-on to the home insurance packages it already offers. The Private Client Group caters to families with a net worth of more than $1 million and includes 40 percent of the individuals on the Forbes 400 list of the richest Americans. Its products are advertised as being suitable for “the most beautiful homes” and include packages for wine and art collections, as well as special services for people who own properties in multiple countries. The Family CyberEdge package includes a wide range of “risk mitigation services,” including an audit of personal mobile devices, home networks, wireless access points and social media, […]

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