Multinational insurance corporation, AIG, has launched a “stand-alone primary cyber insurance policy for property and liability exposures,” according to Business Insurance. This new line, CyberEdge Plus, features AIG’s cyber, casualty and property lines to cover property damage, bodily injury, business interruption and product liability with limits up to $100 million. However, limits “will depend on industry, risk management controls, capacity already exposure to a particular risk and ventilation between layers,” explained Tracie Grella, head of cyber insurance for AIG. Additionally, companies “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,” she continued.
In addition to cyber coverage, CyberEdge Plus offers risk mitigation services through an independent analysis of cyber exposures as well as employee training, compliance, threat intelligence and incident response planning. CyberEdge Plus is the first standalone policy by any carrier addressing property damage, bodily injury, business interruption and product liability risks in one coverage.