Australia
Aon introduces first-of-its-kind enterprise-wide cyber solution

Aon introduces first-of-its-kind enterprise-wide cyber solution


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Expanded approach offers integrated single form to address rapidly emerging needs of organisations


AUSTRALIA (6 October, 2016) - As cyber risk continues to evolve beyond threats to personally identifiable information, Aon Risk Solutions, the global risk management business of Aon plc (NYSE: AON), has introduced Aon Cyber Enterprise Solution™, a first-of-its-kind property/casualty and Internet of Things insurance policy that offers comprehensive and integrated enterprise-wide coverage against cyber risk.

Organisations are increasingly dependent upon technology and information assets to increase efficiency and revenue. As a result, the organisational characteristics continue to evolve to include new risks.

"Cyber risk is undeniably an organisation wide risk and no industry sector can expect to remain free from a cyber attack in today's digital world," said Fergus Brooks, Aon's cyber risk practice leader, Australia. "Aon is committed to providing clients with innovative solutions and the most informative risk insights and data to help combat the threats of cyber in a coordinated manner."

Aon Cyber Enterprise Solution is available in Australia 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 defenses against privacy and security liability.

Practitioners across Aon, including representatives from risk, technology, actuarial modeling, incident response and security, collaborated to develop this solution.

"Everyone in an organisation has a role to play in addressing cyber threats," added Mr Brooks. "Aon Cyber Enterprise Solution helps our clients think about cyber risk differently to address each organisation's holistic cyber exposures under one policy." Aon Cyber Enterprise Solution can address emerging areas of cyber risk and related regulation, including:

  • Comprehensive limit approach - up to USD 400 million in capacity per policy;
  • Aon proprietary language - single policy form;
  • Property damage arising out of a network security breach;
  • Products liability coverage to address Internet of Things exposures;
  • Business interruption and extra expense coverage arising out of a systems failure;
  • Contingent network business interruption for IT vendors and the supply chain;
  • Cyber terrorism coverage;
  • European Union General Data Protection Regulation fines and penalties, where insurable;
  • Privacy/security liability and event expense coverage;
  • Media liability and technology errors and omissions by endorsement.

Aon has worked with markets in the U.S., 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 organisation'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.



About Aon
Aon plc (NYSE:AON) is a leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world's best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources. Visit www.aon.com for more information on Aon and www.aon.com/manchesterunited to learn about Aon's global and principal partnership with Manchester United.



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