AIG Australia has launched a new home insurance product for high net worth families to combat cyber crime.

Partnering with data-protection group CyberScout, which was founded in 2003 by Adam Levin, AIG’s Family CyberEdge policy insures against risks such as identity theft, cyber bullying, data restoration and cyber extortion.

“AIG’s approach helps offset the financial impact whilst our educational tools help clients avoid becoming an easy target,” AIG Australia’s Private Client Group Head David McMurdo said.

Family CyberEdge clients will have access to CyberScout’s fraud experts and advice on the mitigation of cyber risk as well as resolution services in the event of an incident.

Clients can also access premium data backup software and optional credit and identity monitoring services.