AIG Cyber Insurance Singapore Review 2025
Last updated: November 2024
Overview
AIG (American International Group) is a global insurance leader with over 100 years of experience and a significant presence in Singapore's cyber insurance market. Known for their preventative approach, AIG provides clients with Executive Summary Reports assessing their cybersecurity posture before incidents occur.
With Harprit Singh Narang as their APAC Regional Cyber Leader, AIG has deep expertise in the Asian market and offers some of the most comprehensive enterprise cyber coverage available in Singapore.
Key Coverage Features
- CyberEdge Coverage: Comprehensive first and third-party cyber liability protection
- Preventative Services: Pre-incident cybersecurity assessments and executive reports
- Global Incident Response: 24/7 access to AIG's worldwide breach response network
- Regulatory Coverage: Full PDPA compliance support and regulatory defense
- Business Interruption: Coverage for income loss from cyber events with minimal waiting periods
Pricing
| Business Size | Coverage Limit | Annual Premium |
|---|---|---|
| SME (20-100) | $1,000,000 | $1,500 - $3,500 |
| Mid-Market (100-500) | $5,000,000 | $5,000 - $12,000 |
| Enterprise (500+) | $25,000,000+ | $15,000 - $50,000+ |
Pros & Cons
Pros
- + Global leader with deep expertise
- + Preventative cybersecurity assessments
- + Excellent claims support network
- + High coverage limits available
- + Strong APAC regional team
Cons
- - Higher premiums than budget options
- - Complex application for large policies
- - May be overkill for very small businesses
Our Verdict
AIG is the gold standard for enterprise cyber insurance in Singapore. Their preventative approach, global incident response capabilities, and high coverage limits make them ideal for mid-size to large businesses with significant cyber risk exposure. For smaller businesses, consider QBE for more affordable options.
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