Product: AIG cyber product offers pre-policy security audit
AIG has enhanced its cyber insurance product in a move the company claimed was designed to counter the rapidly evolving nature of cyber threats.
The provider cited research by consultancy firm EY showing that in the last 12 months two-thirds of
businesses in the UK reported that the number of security incidents within their organisation had increased by at least 5%. It also highlighted that impending EU legislation has increased potential fines to 5% of annual global turnover if companies are found to be in breach of rules set out under a new framework.
As part of the theory that prevention is better than cure, the insurer offers a pre
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