As cyber risk continues to evolve beyond threats to personally identifiable information, Aon Risk Solutions has introduced Aon Cyber Enterprise Solution, a new property/casualty and Internet of Things insurance policy that offers comprehensive and integrated enterprise-wide coverage against cyber risk.
Organizations are increasingly dependent upon technology and information assets to increase efficiency and revenue. As a result, the risk characteristics of the organization continue to evolve to include new risks, such as system failures, third-party attacks, internal mistakes and malfeasance.
"Technology-enabled business models are core to organizations in all industry segments," said John Bruno, Aon's chief information officer and executive vice president of enterprise innovation. "Aon is committed to delivering innovative solutions to help clients understand ever-changing risks like cyber in a coordinated manner so they can improve their defensive positioning and offensive response."
Aon Cyber Enterprise Solution is available through the Aon network globally and offers an integrated cyber solution for property, products liability, supply chain risk, technology platforms and information/physical assets, in addition to protection against privacy and security liability.
Practitioners across Aon, including representatives from risk, technology, actuarial modeling, incident response and security, collaborated to develop this solution.
Aon has worked with markets in the US, London, Europe and Bermuda, including many of the world's leading global insurance carriers, to support the Aon Cyber Enterprise Solution policy form and approach. The policy form has applicability across all industries, so each risk will be considered independently and on its own merits, taking into account an organization's specific cyber exposures and risk mitigation, including cyber security posture, incident response/disaster recovery planning and cyber resilience. Coverage is subject to individual policy terms and conditions.
