JP Morgan Chase buys AIG-led $600mn cyber policy

AIG is the lead underwriter on what is thought to be the
world's largest cyber insurance tower, which was placed by
Willis Towers Watson for US banking giant JP Morgan Chase,
The Insurance Insider can reveal.
The broking powerhouse disclosed at RIMS last month that it had
placed the $600mn standalone cover, but the name of the client and
the lead insurer were kept under wraps.
Sources told this publication that JP Morgan has a retention of
$50mn, which is...