AIG has ‘cauterized’ ransomware losses with sub-limits and co-insurance: McElroy
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AIG has ‘cauterized’ ransomware losses with sub-limits and co-insurance: McElroy

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AIG has “cauterized” ransomware losses by using sub-limits and co-insurance to manage its exposure to the type of cyber claim, according to senior executive David McElroy.

Speaking on a first quarter earnings call, the CEO of the carrier’s general insurance unit said that renewal retention had come down, and that it had also achieved rate increases of 41% for the class of business.

“We

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