AIG cyber insurance review

About AIG

With over 100 years’ experience and offices in over 80 countries worldwide, AIG is a leading international insurer that offers an extensive range of business insurance products.

AIG have offices across the UK and insure some of the largest, most well-known UK businesses as well as thousands of smaller start-ups and SMEs.

AIG cyber insurance in detail

AIG cyber cover has been extended and expanded significantly over the past five years, and now offers one of the most comprehensive policy offerings in the market.

Some of the main things you can get cover for with an AIG cyber policy include:

  • Legal expenses
  • IT expenses
  • Data recovery
  • Reputation protection
  • Credit & ID monitoring

Some of the main exclusions on AIG polices are:

  • Acts of war or terrorism
  • Any bodily injury or property damage
  • Internal staff costs
  • Losses resulting from satellite failures

The AIG CyberEdge policy tour offers a more in-depth look at the different cover terms and exclusions on offer.

CyberEdge modules

Exactly what’s included with an AIG policy is down to you.

AIG offer flexible modular based cyber cover called CyberEdge which allows business owners to choose different cover options to suit their needs. Some of the AIG cyber modules include:

  • First Response
  • Event Management
  • Data Protection & Cyber Liability
  • Network Interruption
  • Cyber Extortion
  • Telephone Hacking

You can find an overview of all the different modules in the AIG What’s Inside Cyber Edge pdf guide.

The Pros

  • Commitment to a 1 hour first response following cyber incident
  • Extensive complementary added value services from partners like KPGM and Norton Rose Fulbright
  • Detailed application and assessment process
  • Network interruption losses can be calculated on either a Gross Profit or Net Profit basis to suit the client

The Cons

  • You can’t get a quote online, you need to use a broker
  • Price is typically mid-market, there may be cheaper alternatives
  • You’ll have to pay extra for some services e.g. Portfolio Stress Tests & Security Ratings

Get a quote

To help you get a quote AIG have launched their Smart Application process. It takes you through a series of tailored questions based on your industry and business size and helps create a modular policy well suited to your needs.

Before you begin, AIG recommends involving staff members from these teams in your application:

  • Information security
  • General counsel
  • Privacy
  • Finance

Once you’ve completed the application AIG will send you a Summarised Assessment Report, designed to help you better understand the risks to your business – you can download an example AIG Summarised Assessment Report report here.

AIG Executive Report

Once you purchase an AIG CyberEdge policy they will send you an indepth Executive Report, detailing your:

  • Prioritised risk practices
  • Data breach probabilities and potential impacts
  • DoS probabilities and potential impacts
  • CIS alignment scores
  • Cyber control effectiveness
  • Cyber readiness via peer benchmarking

This in depth executive report can be extremely valuable for reducing your risk of a data breach or successful cyber attack. You can view a sample report on the AIG website.

How to make a claim

To make a claim you need to notify AIG “as soon as practicable” but always no later than:

  • 60 days after the end of the policy period
  • On expiry of any applicable Discovery Period

You can call the dedicated First Response Cover phone number on 01273 730992 if you’ve included this option in your cover, or email

What extra support is available?

AIG offer a host of complimentary extras alongside their CyberEdge cover that makes them one of the most comprehensive offers in the market. These include: 

  • AIG Cyber Services Orientation: A free 1 hour session with a Risk Consultant to help assess your business and the extra complimentary services AIG offer
  • Employee CyberSecurity training: A training and compliance service that utilises a phishing simulator.
  • Infrastructure Vulnerability Scanning*: An expert review of your business property and a remote scan of your online infrastructure to detect and hidden risks or vulnerabilities.
  • Incident simulation workshops: To help your business develop an effective response plan AIG offer to simulation 2-3 incidents tailored specifically to your organisation.

* Available to clients purchasing AIG CyberEdge and spending more than £5,000 per year.

Your commitments

As with all cyber insurers you have certain commitments that you need to follow to ensure your AIG insurance is valid and effective.

These are common, but do vary slightly depending on the insurer, with AIG they include:

  • Providing all reasonable assistance and co-operating with any investigation, defence, or appeal of any insured event.
  • Use due diligence and everything reasonably practical to avoid or diminish loss
  • Giving information to assist the insurer to investigate any loss to determine liability

AIG cyber insurance key features

Rapid response support        Available 24/7
Cyber claim’s service number+44 (0)20 7954 7000
Quotes/policiesAvailable via a broker
FlexibilityModular policy
Cover limitTypically £10m
Event response IT support48 hours included with First Response Cover only.
Ransom paymentsIncluded with cyber extortion cover

AIG’s credibility

AIG are a leading global insurance organisation, with over 80 years of experience offering insurance in the UK.

They offer dedicated cyber cover for businesses of all sizes, so their cover isn’t simply an add-on to broader business insurance.

AIG cyber FAQs

Do AIG offer to cover smaller businesses?

Yes, AIG can cover “any company that processes, stores or transmits data” ranging from small startups to large multinationals with complex business structures.

What industry sectors do AIG offer cyber cover for?

AIG can cover a wide range of business industries, including financial services, retail, manufacturing, charities and many more.

What first response IT specialists do sectors do AIG offer cyber cover for?

AIG partner with KPMG and Ankura to supply their first response cover support.

Does AIG CyberEdge cover DDoS attacks?

Yes, AIG CyberEdge will pay for the cost of IT consultants and PR experts following a DDoS attack to help your business handle the damage caused.

Can AIG help me assess the vulnerabilities of my suppliers?

Yes, AIG partner with Security Scorecard to offer a Vendor Security Ratings system. This produces a scorecard to enable to monitor and assess the security of your own network and third-party vendors. There is an additional charge for this service.

Martin Lane
Written by Martin Lane, Head of Content

Cyber insurance buying guide for SME’s




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