Cyber insurance and risk management
We live in an era of widespread and continual digital transformation. No industry sector is untouched as computers and the internet are harnessed to boost organisation efficiency and nurture more intimate relationships with global consumers.
Recent changes to privacy laws, along with social media and heightened media attention towards breaches have also increased the importance on effective network, data security and privacy systems, and cyber insurance coverage to match.
These financial implications require a systematic change of attitude for many organisations, with cyber risks and data security elevated to boardroom level.
Aon provides a holistic approach to managing cyber risk, including:
Identification – cyber risk profiling to help you gain a thorough understanding of your cyber risk exposures and areas of improvement.
Mitigation – cyber incident readiness assessments to evaluate your response capabilities during a crisis situation.
Transfer – bespoke cyber insurance solutions that suit your company’s specific risk profile.
A cyber incident can be financially crippling – with costs ranging from business interruption, incident response, third party claims and legal costs, to customer notification expenses, damage to data, fines – not to mention damage to brand and reputation.
Cyber insurance provides comprehensive cover for first and third party exposures resulting from any cyber or privacy event that impacts your business. It provides your business with a structured crisis response plan to mitigate further loss and assists with returning to ‘business as usual’.
Talk to Aon to secure your success today.
On 23 May 2018, PageUp, an online HR software provider servicing a number of Australian organisations, experienced a data breach. Find out what to do if you believe your organisation has been impacted.
Do you understand the implications of the new privacy laws to your business? Our handy overview provides you with the essentials to help your organisation to be data breach secure.