Most organizations are in the early stages of striking an effective balance between investing in cybersecurity programs that mitigate risk and protecting the balance sheet through cyber insurance.
Organizations with uninsured cyber risks are vulnerable to balance sheet impact stemming from breach-related liability, breach event expenses, and business interruption costs.
When organizations lack adequate cyber insurance coverage, their balance sheets are overly exposed to cyber risks. The most common first-party financial impacts include business interruption extra expense, computer forensics costs, notification costs, credit monitoring costs, and defense/public relations costs. Third-party costs include regulatory fines and penalties, or consequential revenue loss and restoration expenses.
Aon and Stroz Friedberg help companies secure appropriate coverage by working with CISOs and risk managers to customize cyber insurance to fit each organization’s unique risk profile. Aon’s dedicated cyber insurance brokers partner with you to differentiate your organization in the insurance market, and guide you through a successful insurance placement. Our client-centric approach to presenting and marketing your risk is bolstered through placement strategy discussions, submission creation, coverage priority matrix development, underwriting meeting preparation, insurance carrier meetings, and accessing the global marketplace. We also provide access to reinsurance capacity and alternative capital.
We collaborate with you to address your cyber risk exposure, including coverages beyond the typical cyber insurance offering. We offer a suite of industry-leading solutions to address your cyber risks across the enterprise, including: Aon Cyber Enterprise Solution, Aon Cyber Captive Program, and the Aon Client Treaty. Aon’s unmatched depth of expertise and capabilities will give you confidence that you have protected your critical assets, and reduced your total cost of risk.
- Cyber Insurance
- Aon Cyber Enterprise Solution
- Insurance Program Review
- Proprietary Peer Benchmarking
- Global Broking Center
- Aon Client Treaty
- Aon Benfield Reinsurance