Cyber Risk

Cyber Risk

Data protection and network security has become a leading issue for most businesses owing to a surge in the use of technology and collection of information required for a modern business to operate.

Talk to your local Aon broker

Understand your business exposure

Managing the internal risks of human error and system failures along with external threats such as malicious or nuisance attacks, is a relentless task and further complicated by an increasing trend to outsource business functions to third parties such as payroll processors, data back-up and cloud related services.

This leads to an increased possibility of legal exposure, reputational harm and income loss that can wreak havoc on a company’s bottom line.

Sample insurance cover

Traditional insurance covering liabilities, property and crime fail to provide adequate protection for intangible assets such as computer networks and data.

Costs to deal with a breach of security or breach of data can be split between your own expenses to respond and third party costs to defend and settle with others.

Policies differ between insurers but the below table demonstrates what most insurers will aim to provide.

Five Question Analysis

Take our quick five question self analysis. If you answer yes to any of these questions, you may want to consider cyber risk insurance.

Five question self analysis

Complete the Cyber Risk Diagnostic

Aon has created this simple-to-use, interactive tool to help you identify and consider the key internal and external factors that may affect your levels of cyber risks.

Complete the Cyber Risk Diagnostic here

Aon assisted assessment:

1. Contact your local Aon broker to discuss your needs

2. Aon Group Risk Consulting (AGRC) services

AGRC offers Insurable Risk Profiling and Gap Analysis for cyber risk exposures. Using a structured method of risk analysis to determine key risks and their financial impact allows for a more granular view of risk and assists with risk management and transfer strategies.  The output demonstrates good corporate governance and can easily be linked to your organisation’s broader risk management activities.

News and Articles

From Malware To Phishing: Your Guide To Cyber Crime
Financial gain isn't always the motivation behind cyber attacks - they could be launched to sabotage operations or cause significant business disruption.

How Ransomware Attacks Work – And Why Hackers Won’t Stop Using It
Ransomware attacks are fairly easy to carry out and a quick way to score some cash.

End of the Wild Wild Web: Navigating Cyber Regulations
WannaCry and then Petya... will cyber regulations help reign in the Wild Wild Web?

The Bangladesh Bank Heist: Lessons in Cyber Vulnerability
The Bangladesh Bank Heist is considered one of the biggest of all time, the thieves managing to get away with $81 million. What did this heist teach us about cyber vulnerability?

A Holistic Approach to Cyber Risk
Jason Hogg, new CEO of Aon Cyber Solutions and Stroz Friedberg discusses what brought him to Aon and how organizations should be approaching cybersecurity as an enterprise-wide risk.

WannaCry ransomware cyber-attack – what you need to know

New ransomware Petya used the same vulnerability as WannaCry
Stroz Friedberg blog post on why cyber resilience is business critical.

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.

7 questions to help determine if your organisation was ready for WannaCry 
Including recommendations on how to protect yourself. 

What made this strain of ransomware so dangerous?
While the initial WannaCry virus was partially stopped in its tracks after a couple of days, the full extent of the damage remains unclear. 

WannaCry ALERT – what you need to know and what to do if you are affected

Why choose Aon?

Aon New Zealand has a dedicated team that specialise in this fast emerging and unique risk area. Forming part of Aon’s global cyber practice we are in a position to share with you experiences from our clients and insurers around the world. This will assist you when arranging cover, benchmarking premiums and responding to cyber incidents.