AIG Launches CyberEdge, Middle East’s First Cyber Insurance

American International Group (AIG) has launched CyberEdge—a product offering business risk and insurance cover to negate the threat of cyber-attacks to a company—a first of its kind in the Middle East.

CyberEdge helps protect organizations from the millions in losses that can result from cyber threats. The average cost for crisis services such as IT forensics, legal counsel, notification are $983,000 per event.

A key feature of CyberEdge is the Data Crisis Response Team, which provides the policyholder with direct assistance from specialist legal experts and public relations advisors in the event of a data crisis event. This team will look to protect the company’s reputation and provide crisis management services.