AIG launches cyber cover for SMEs

AIG has partnered with cyber security company IASME Consortium and insurance broker Sutcliffe & Co to provide SMEs with cyber coverage.

The product is associated with the UK government’s new cyber essentials scheme, which is encouraging all businesses to build cyber security into their companies by focusing on five critical security controls.

The IASME Consortium offers a self assessed route to cyber essentials which will help small businesses demonstrate that they are operating to those requirements.

AIG said it supports this initiative and SMEs who are able to demonstrate they have reached certain technical control requirements by passing the IASME self assessment will automatically be entitled to the new cyber product.

Raheila Nazir, cyber, TMT manager for the UK, AIG, said: “Often smaller organisations are seen as a back door entry to large organisations by hacktivists, which is why strict contractual obligations are often stipulated. If an organisation can demonstrate they have assessed such risks and taken steps to mitigate them they can stay ahead of the sophisticated nature of cyber attacks which will reassure the organisations they want to do business with.

“There is, therefore, real value in SMEs complying with the cyber essentials requirements and attaining certification as it will improve IT security and offer added protection should they suffer a breach of IT security.”