Cyber Risk | Aon Insurance Brokers and Risk Managers

Cyber Risks

Australia's increasing reliance on networks, cloud technology and computing systems is exposing many organisations to new and emerging threats. Changes to privacy laws, social media and heightened media attention towards breaches have also increased the importance on effective network, data security and privacy systems, and insurance coverage to match.

A significant data breach to your organisation can be financially crippling in first and third party costs, whilst having a damaging effect on your brand and reputation. Ranging from business interruption and legal costs, to customer notification expenses and damage to data – organisations can no longer afford to ignore cyber threats.

In this increasingly punitive and regulatory environment, forward-thinking companies are taking proactive steps to identifying their cyber risk exposure and exploring risk transfer and mitigation strategies.

By working closely with organisations to understand the unique risks they face, our cyber risk experts will develop a tailored risk management program to mitigate exposures and enhance your cyber insurance coverage to ensure you are appropriately protected.

Updates on recent cyber-attack – Petya/GoldenEye/NotPetya/ExPetr

Thursday 11 January 2018
Meltdown and Spectre

There has been a great deal of media recently regarding two recently discovered vulnerabilities dubbed Meltdown and Spectre. In short, they are vulnerabilities related to the way Intel & ARM processors work. The processors attempt to guess what to do next, what is called speculative execution, in order to run faster. This provides a potential window to look into computer memory that was previously not thought possible. There are patches out there for this already, however buyer beware, some of the patches have been seen to break other applications, so best to check before installing the patches. Another issue is that for heavy-workload systems with constantly high processor usage there can potentially be up to a 30% negative performance impact.

Friday, 30 June 2017
Global cyber-attack Petya

Petya is the latest cyber-attack to sweep the globe and has impacted many Australian organisations. We look at the similarities and differences to the recent WannaCry attack and how organisations can protect themselves.

Thursday, 29 June 2017
NotPetya - an unfolding saga

As research into NotPetya/ExPetr continues, this post by our US colleagues provides a summary of the latest findings from their research and updated advice for best protecting your organization.

Thursday, 29 June 2017
Client alert: More cyber ransomware

Our US colleagues have put together a client update – read this to find out more about the recent cyber-attack Petya, and what you should do from a technical and insurance standpoint.

Wednesday, 28 June 2017
Petya ransomware attack

  • A ransomware virus, called Petya, has hit the US, Europe and Middle East on Tuesday 27 June
  • Kaspersky Labs is predicting that it could be as widespread as WannaCry and has reported that it appears to be a complex attack which involves several attack vectors
  • Aon cyber experts are currently investigating the attack, and as soon as more information is available, we will share it here.

Updates on recent cyber-attacks, WannaCry and Adylkuzz

Wednesday, 24 May 2017
The new world order of cyber threats

With cyber risk on the rise, and business interruption a growing concern, we explore in detail the so-called WannaCry and Adylkuzz incidents and provide guidance on how organisations can better prepare for the future.

Friday, 19 May 2017
4 lessons and 7 questions from the WannaCry ransomware attack

WannaCry: what were the vulnerabilities and what we can learn from this large-scale cyber event? Jim Trainor, former Assistant Director of the FBI's Cyber Division in Washington, DC and current Senior Vice President at Aon shares his perspective here

Thursday, 18 May 2017
Adylkuzz ransomware attack

  • Subsequent to the outbreak of the WannaCry ransomware worm, security researchers have discovered a more insidious threat that has been in the wild for longer than WannaCry, some claim back to late April, named Adylkuzz
  • The reason for the late discovery is that there is no notification or ransom demand when a system has been infected
  • This worm and malware takes control of a system and uses it as a digital currency "miner", leveraging the target's processing power to solve puzzles in return for cash
  • It is unclear whether it is related to WannaCry, even though they both leverage the same vulnerability
  • Impacted users mainly notice that their systems are running slow

We will be publishing new commentary as we continue analyse the situation. Please stay tuned for more updates.

Thursday, 18 May 2017
WannaCry - What you need to know

There has been an overwhelming amount of information circulating in the media at the moment about the recent ransomware attack. Read our client update to find out what you need to know and what to do if you are affected.

Tuesday, 16 May 2017
Were You Ready for WannaCry?

Last week's ransomware attack was by all accounts one of the most widespread cyber events we've seen. The pace at which the malware proliferated and the scope of the impact across companies and geographies was unprecedented. As the new work week begins, it's unclear whether the worst is behind us – a "kill switch" that neutered the original version of WannaCry was discovered and registered, but new variants have already been found circulating.
Download the article by Stroz Friedberg, an Aon Company, here.

Request Info Expand
* Required fields

  Invalid Email Address

close form

Aon Cyber Risk Experts