AIG is offering an insurance policy to compensate companies for cyber attacks that damage property and even harm people.
The new policy is the first of its kind from a leading insurer and marks an expansion of the nascent cyber insurance market beyond corporate losses arising from data breaches.
The insurance, which will act as an add-on to existing cyber policies, coincides with warnings about the vulnerability to cyber attacks of new types of products. The rise of the “internet of things” means that a host of devices connected to the internet are now exposed to new types of risk.
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