Cyber Insurance

A cyber breach has the potential to interrupt business operations, supply chains, products, and beyond. It can also impact third parties such as clients, patients, or guests. Cyber insurance coverage is about the business impact of a cyber-related disruption to your organisation. Our brokerage team understands the risks and how to arrange coverage in an evolving market. It’s not one-size-fits-all, so we team with you to create a custom cyber insurance policy fit for your organisation. Your policy will consider your unique cyber risk exposures and your need for coverage. We consider your security posture, your appetite for risk, and your existing portfolio of traditional property and casualty policies.

Cyber Risk Financing

Through modelling of cyber loss scenarios and stress testing current insurance limits, we advise on how your existing risk financing strategies can be enhanced to effectively address cyber threats. To do this, we conduct financial analysis to estimate the company’s risk tolerance to unbudgeted loss. These insights will help inform financing decisions and demonstrate the effect of cyber loss scenarios on key performance indicators. Then, we provide support by adopting a risk-based approach to financing and insurance arrangements, ultimately helping you optimise the total cost of risk associated with cyber exposures.

Errors & Omissions Insurance

In the digital economy, every organisation should contemplate their evolving risk profile. We understand the errors and omissions exposures facing organisations and work with you to comprehensively assess your E&O risk and advise you on how to proactively manage it. Our diverse and talented team of brokers are experienced in helping identify professional liability exposures and will create an insurance policy, unique to your organisation and designed to meet your needs.

Security Policies & Standards Development

Information security is complex and unique. Our policies are tailored to your organisational needs. We analyse your current policies against your cyber risks, compliance and control requirements, and we consider your organisation’s culture and industry best practices. We deliver a custom set of information security policies defined by each business unit and function to help you safeguard your organisation and your reputation.

Secure Software Development Lifecycle

Competition, your clients’ demands for better connectivity, and the constant pace of disruption – all these pressures conspire to push you to pick up the pace of innovation and product launches. But, customers are now demanding that software also be secure. We help you avoid the expensive redesign and patchwork coding efforts that happen when flaws are discovered too late in the development lifecycle through threat modelling, SDL transformation and tools integration, and secure development training.

Cyber Threat Simulation/Tabletop

Threat simulations and tabletops not only help limit the impact of a breach once it happens but also can save money, minimise reputational damage, and help improve compliance and protections when it comes to sensitive data and intellectual property. We perform customised cyber threat simulations on your security program and IT infrastructure that mimic a real breach scenario specific to your industry. We identify gaps and provide a report that prioritises recommendations for improvement.

Incident Response Planning & Playbook Development

Organisations know they need an incident response plan. But strong incident response planning requires a level of sophistication and foresight that comes only with extensive experience in resolving data breaches. We develop tailored, comprehensive incident response plans and playbooks that consider your organisation’s industry threat landscape, governance model, and security framework. With our guidance, you’ll be able to respond confidently in the event of a cyber attack and employ better processes and decision-making. This will mean you’ll be able to rapidly detect, contain and recover.

M&A Cyber Due Diligence

When merging with or acquiring a company, you also acquire their risks. And cyber risks have also emerged as a leading threat to private equity investments. Risks can include an insecure network, compromised assets, or risk for current or historical non-compliance. We conduct cyber due diligence to identify potential threats to the value of your investment, giving you the insight you need to make sound decisions. Pre-deal, we perform a cyber security assessment to help gauge risk. We assess your target’s cyber risks and vulnerabilities while adhering to your deal time frame and creating a cyber risk profile that informs a 100-day, post-close remediation plan. Post-deal, we can assist with the implementation of remediation as a condition of closing or mitigate risk through deal-specific insurance products. When software is involved, we evaluate it for vulnerabilities. We know the threat landscape and understand the unique needs of private equity firms.

Security Strategy Development

Your organisation needs to compete. You also need to ensure your security. A comprehensive enterprise security plan and roadmap sets clear objectives and priorities. We consider the entire enterprise when creating an actionable security vision and roadmap to help you drive your organisation and prioritise spending at the right time and in the right places. We identify the security programs that align with your threat profile and risk appetite. Components may include threat intelligence and analysis, vulnerability management, insider threat management, network and application security, cloud security, and third-party risk management. We lay out clear implementation strategies that are actionable – not just words on paper.
CISO Advisory

Whether you’re a seasoned CISO or running a company without one, managing your organisation’s cyber risk is a daunting task. Every organisation can benefit from advisory assistance to help build and implement a strong security framework. We offer cyber security advisory support and provide strategic guidance, tactical project support and input on budgeting. We customise our support to your specific needs and can present security strategies to your key stakeholders, including executives, law enforcement, regulators, and the board.

Board Advisory

Board members are aware that major enterprises have lost millions of dollars in shareholder value, not to mention the litigation and regulatory inquiries, all because of cyber attacks. Cyber security is no longer just an IT issue. With our combination of experience, technical rigor, and up-to-date knowledge of the global threat landscape, we can help guide you to a well-rounded cyber security culture. We’ll help you identify and protect your critical assets, align recommendations to your risk tolerance, and incorporate best practices into your enterprise risk strategies.

Aon Cyber Expert

Chris McLaughlin

Director, Cyber Solutions Group

More Information

Cyber Insights