AIG Launches Parametric Cyber Insurance for Cloud Outages

AIG has introduced a new Parametric Cloud Outage Solution to provide businesses with cyber insurance coverage against losses from cloud service outages. This solution, developed in partnership with Parametrix, offers predefined payment triggers based on cloud service downtime and its financial impact. It covers outages affecting cloud infrastructure and software-as-a-service platforms. The offering is available in the United States as an endorsement for eligible AIG cyber clients. The initiative comes in response to a significant increase in enterprise spending on cloud infrastructure, which reached $129 billion in Q1 2026, a 35% year-over-year growth. AIG aims to help organizations recover quickly from disruptions, emphasizing the importance of rapid claims processing. The solution features a two-hour waiting period before payouts, with no monetary retention required thereafter.

Key Points: • AIG's new insurance solution addresses financial losses from cloud service outages. • The parametric coverage offers predefined payment triggers based on downtime. • Global enterprise spending on cloud infrastructure services surged to $129 billion in Q1 2026.