AIG Expanding In Growing Cyber Attack Insurance Market

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Mark Melin
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Updated on
AIG

As cyber-attacks become increasingly common, derailing the largest corporations from JPMorgan Chase to Sony Pictures and the U.S. government, AIG wants to sell corporate insurance policies. AIG offering cyber attack coverage for up to $100 million AIG will offer up to $100 million in coverage for property damage and another $100 million for bodily injury caused by a cyber-attack. “There’s going to be mass panic, people are going to think it’s a terrorist attack, people are going to think it’s another 9/11 event,” Austin Berglas, a former FBI cybercrime investigator and now AIG division employee was quoted as saying in…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

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