American International Group is offering its AIG Private Client Group members cyber protection and risk mitigation coverage through a new insurance product.
The product, called Family CyberEdge, offers coverage against various threats, including cyber extortion and cyberbullying. It covers expenses policyholders may incur related to data restoration and crisis and reputation management as well as offers at-home assessments of devices, home networks, wireless access points and online accounts. Policyholders are typically high net-worth individuals and families.
AIG is also collaborating with the private client services team of its strategic partner K2 Intelligence to offer policyholders information regarding proactive management of cyber risks.
"As cyber threats become increasingly more sophisticated and intrusive, it is important for homeowners to have access to services and protection that help enhance cyber security and that can react when that security fails," said Tracie Grella, global head of cyber risk insurance at AIG.