# Amid Evolving Cyber Risks, Aon Introduces First-Of-Its-Kind Enterprise-Wide Cyber Solution For All Industries
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2016-09-30
Category: INSURANCE
Category URL: https://financedigest.com/category/insurance
Meta Title: Aon Cyber Enterprise Solution: Integrated Single Form for
Meta Description: Aon introduces a revolutionary property/casualty and IoT insurance policy addressing evolving cyber risks in all industries. Learn more here.
URL: https://financedigest.com/amid-evolving-cyber-risks-aon-introduces-first-of-its-kind-enterprise-wide-cyber-solution-for-all-industrieshtml

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

As cyber risk continues to evolve beyond threats to personally identifiable information, [Aon Risk Solutions](http://www.aon.com/risk-services/), the global [risk management](http://www.aon.com/empower/aon-risk-solutions.html) business of [Aon plc](http://www.aon.com/default.jsp) (NYSE: AON), today 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 risk characteristics of the organisation 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 organisations 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](https://www.financedigest.com/improving-risk-management-in-the-insurance-industry.html "Improving risk management in the insurance industry") 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](https://www.financedigest.com/mercedes-benz-and-microsoft-collaborate-on-supply-chain-data-platform.html "Mercedes-Benz and Microsoft collaborate on supply chain data platform") 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. The Aon team has been successful bringing a number of clients across [industries to market](https://www.financedigest.com/growing-packaging-industry-is-driving-demand-for-reclosable-rigid-containers-market.html "Growing Packaging Industry Is Driving Demand For Reclosable Rigid Containers Market") on the Aon Cyber Enterprise Solution form.

The impact of [cyber risk](https://www.financedigest.com/minimising-supply-chain-cyber-risks-by-asking-the-right-questions.html "MINIMISING SUPPLY CHAIN CYBER RISKS BY ASKING THE RIGHT QUESTIONS") has fundamentally changed,” said Stephanie Snyder, Aon Risk Solutions cyber practice sales leader. “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](https://www.financedigest.com/transport-operator-go-ahead-flags-cyber-security-breach.html "Transport operator Go-Ahead flags cyber security breach") breach;
- Products liability coverage to address [Internet of Things](https://www.financedigest.com/iomt-internet-of-medical-things-to-accelerate-the-ophthalmology-devices-market.html "IoMT (Internet of Medical Things) to accelerate the Ophthalmology Devices Market") 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.

Christian Hoffman, Aon Risk Solutions cyber practice leader, added, “While cyber policies cover personally identifiable information exposures, such as those faced by retailers, hospitality, financial institutions and health care, we are excited to broaden the [scope of coverage to help clients across all industries](https://www.financedigest.com/stability-test-chamber-market-2019-scope-of-current-and-future-industry-2027.html "Stability Test Chamber Market 2019 | Scope of Current and Future Industry 2027") develop a more comprehensive approach to cyber risk, including physical property damage, products liability, business interruption or supply chain disruption.

Aon has worked with markets in the U.S., London, Europe and Bermuda, including many of the world’s [leading global](https://www.financedigest.com/prefabricated-building-system-markets-advanced-research-growth-opportunities-in-global-industry-by-2025-edited-by-leading-research-firm.html "Prefabricated Building System Market’s advanced Research & Growth Opportunities in Global Industry by 2025 Edited by Leading Research Firm") 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](https://www.financedigest.com/mitigating-operational-risk-through-centralising-reconciliation.html "MITIGATING OPERATIONAL RISK THROUGH CENTRALISING RECONCILIATION"), including cyber security posture, incident response/disaster recovery planning and cyber resilience. Coverage is subject to individual policy terms and conditions.


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