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AIG offers cyber insurance for property and liability risks

Posted On: Jul. 19, 2016 12:00 AM CST

American International Group Inc. on Tuesday said it has launched a stand-alone primary cyber insurance policy for property and liability exposures.

CyberEdge Plus combines AIG’s cyber insurance and risk mitigation offerings to provide coverage for property damage, bodily injury, business interruption, and product liability, AIG said in a statement.

Limits are available up to $100 million “but will depend on industry, risk management controls, capacity already exposed to a particular risk and ventilation between layers,” New York-based Tracie Grella, head of cyber risk insurance for AIG, said in an emailed statement.

Companies and organizations “can secure coverage from one company and one policy form to address multiple cyber exposures and the severity of those exposures, from cyber security data breach to hackers causing physical damage,” Ms. Grella said in the statement.