Electronic & Computer Crime Insurance

The object of insurance constitutes the bank's property interests that do not contravene the laws of the Russian Federation and are connected with possession, use and disposal of its electronic (computer) networks.

• Losses sustained by the insured as a result of an unauthorized access to the bank computer system, in the event that the insured transferred, paid or placed any funds or property, set up an open account, paid a bill or made any other payment 
• Losses sustained by the insured as a result of the impact of computer instruction statements, in the event that the insured transferred, paid or placed any funds or property, set up an open account, paid a bill or made any other payment, as a result of any fraudulent or modified computer instructions installed in the computer system of the insured, provided that such installation was performed by a third party having an intention to cause damage to the insured or to obtain a financial gain for himself/herself or any other person 
• Losses sustained by the insured as a result of the damage caused to the electronic data and media 
• Losses sustained by the insured as a result of impact of computer viruses 
• Losses sustained by the insured as a result of operations performed through electronic communication, in the event that the insured transferred, paid or placed any funds or property, set up an open account, paid a bill or made any other payment 
• Losses sustained by the insured through using electronic media-located securities from the depository, in the event that the depository transferred, paid or placed any funds or property, or debited any account of the insured 
• Losses sustained by the insured as a result of money transfer following fake fax messages, in the event that the insured transferred, paid or placed any funds or property, set up an open account, debited any account or made any other payment based on the fake order or the order with a forged signature, which was purportedly sent to the insured by its client, affiliate or any other financial institution 

Among its clientsd AIG has some of the largest Russian banks and other financial institutions. 

• Terms of insurance incorporate clauses developed by the London Institute of Insurers (LSW 983) as well as additional clauses addressing the needs and interests of each client 
• High standards in methods of claims settlement, including elements of quality control over the settlement process at different levels of corporate management 
• Availability of insurance with AIG companies in other countries of the world, including an option of development of a global insurance program providing for issuance of locally tailored policies to comply with the applicable laws and regulations or to meet requirements of the insured