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AIG rolls out parametric cloud outage cyber insurance with Parametrix

The coverage uses predefined payout triggers tied to cloud downtime and potential financial impact, with a two hour waiting period before claims can be assessed.

Reported · Written up by our desk · Industry & Deals

Global insurer AIG expanded its cyber insurance offering with a new parametric solution designed to cover business interruption losses from cloud service outages and cloud provider downtime, developed with Parametrix, a digital infrastructure insurance solutions provider, according to Artemis.

AIG said the Parametric Cloud Outage Solution is built around predefined formula based triggers that consider cloud service downtime and the associated potential financial impact, covering outages that affect cloud infrastructure, software as a service platforms, or other cloud technology services subject to policy terms and conditions.

The insurer highlighted features including a short two hour waiting period with no subsequent monetary retention, transparent and predefined policy triggers, and a rapid claims assessment and payout process. AIG also said the solution lets policyholders manage both cyber and cloud outage coverage under a single unified insurance policy.

The parametric formula is supported by Parametrix’s monitoring of more than 750 data centers globally and tracking of over 9,000 software and other technology providers, the announcement stated. AIG added that cloud infrastructure spending has risen, citing Synergy Research Group data showing global enterprise cloud infrastructure spending reached $129 billion in the first quarter of 2026, up 35% year over year.

Artemis reported the new product is available in the United States as an endorsement for eligible AIG cyber clients. Parametrix Chief Commercial Officer Sharon Haran said carriers and brokers are seeking additional value and innovation for insureds, and that the solution is intended to bring that opportunity through parametric structures and technology.

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