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Claims Scenarios

We have over 15 years’ experience of handling cyber claims, here are just a few examples based on actual events to illustrate the CyberEdge response.

An employee steals the personal information of millions of customers          

CyberEdge response: CyberEdge covers the costs of IT forensic experts to establish what data was stolen from who and the costs of notifying the individuals whose data had been stolen.  It also paid for credit monitoring to make sure the individuals suffered no ongoing losses after the data theft.  It then covered the costs of a legal breach coach to prepare the business for investigation and the costs of representing and defending the business in the ensuing legal action that was brought against them.

An unknown credit card processor puts a department store’s 35,000 cardholders at risk         

CyberEdge response: Calling on its strong supplier relationship network, AIG worked with the insured to retain a top professional to provide notification, replacement credit cards and credit-monitoring services. AIG reimbursed the insured approximately $200,000. AIG is providing legal counsel and closely collaborating with the retailer to explore its right to reimbursement from the credit card company and third-party processor.

A college accidentally sends 80 emails including names and grades of all its students            

CyberEdge response: Working together AIG and the college were able to retrieve 55 of the emails before they were opened.  AIG worked closely with the school’s dean and helped provide notification to the impacted students and retained a supplier to provide credit monitoring.

3 million passwords are hacked from an online service provider and leaked posted online      

CyberEdge response: AIG’s claims team and breach coach worked closely with the insured in resetting the passwords of the individuals and recommended a number of security procedures for users such as changing passwords every few months.  AIG collaborated with the client to email the 3 million impacted customers to advise them of the breach and to provide them with the necessary information on how to contact the insured’s customer care team.