Evolving cyber exposures, the EU General Data Protection Regulation (GDPR), as well as the increased focus of ransomware attacks on mid-market organisations illustrates why, now more than ever, cyber insurance is critical.

Despite the growing threat level, many mid-market organisations remain ill-prepared for the financial impact of a cyber attack, including; crisis, defense, liability and regulatory expenses and business interruption loss.

Aon’s Cyber Cover 360

Aon’s Cyber Cover 360 was developed for UK mid-market organisations with annual revenues up to £1 billion and provides broad cyber coverage.

We have consolidated our global cyber broking expertise and market partnerships across the UK and EMEA region through a portfolio approach. This has enabled Aon to negotiate competitive terms, coverage and pricing that would typically be unavailable to organisations going to market alone.

It also enables access to Stroz Friedberg Incident Response services to help minimise damage and reduce reputational and financial fallout should an incident occur.

Aon’s Cyber Cover 360 offers broad cyber coverage for:

  • network security liability
  • privacy liability
  • data breach response and crisis management
  • network business interruption
  • data recovery and restoration
  • cyber extortion

The benefits

Easy Application Process

Simply contact your Aon Account Executive or request Aon's cyber insurance proposal form to obtain a quote.

Leading Cyber Markets

We partner with insurers AIG, Beazley and CHUBB who have established cyber underwriting and claims settlement track records.

Competitive Pricing

Continously reviewed and updated terms, based on regional market trends.

Broad Coverage

Offers specific coverage enhancements negotiated by Aon, such as:

  • Automatic full limits for incident response & costs associated with breach notification
  • Automatic full limits for regulatory cover
  • Broad definition of computer system
  • Broad business interruption cover
  • Broad cyber extorsion cover
  • Coverage for cyber terrorism
  • Deletion of the unencrypted device exclusion

Service Excellence

Responsive turn-around times for quotations and policy issuance.

Trusted Incident Response

Stroz Friedberg's Incident Response can minimise damage and reduce reputational and financial fallout.

How it works

Our structured approach for the mid-market includes two steps:

1 Cyber Risk Assessment

Complete Aon’s CyQu, our proprietary online cyber risk assessment, to understand your cyber exposures.

In about 90 minutes, CyQu will provide you with a snapshot of your cyber risk (CyQu Score) across 9 security domains and 35 critical control areas, providing you with key insights into the areas posing your the greatest risks to your business.

2 Mitigate the risk with cyber insurance

Complete Aon’s Proposal Form to request a quote for
Aon’s Cyber Cover 360.

Short insurance questionnaire provided by Aon Account Executive

Complete insurance questionnaire

Receive cyber insurance policy proposal

Case examples

Client goals:

  • Understand the current cyber exposure the organisation faces and methods to mitigate the exposures
  • Gain an external opinion on the current cyber risk maturity position
  • Underpin the insurance placing process with data insights

Our approach:

  • The client completed our proposal form and returned it within 20 minutes
  • We delivered competitive quotations from a panel of insurers within 48 hours
  • Coverage was bound with the selected carrier within 72 hours of the client’s first enquiry into cyber insurance

Result:

  • The client had a clear understanding of their cyber risk exposures supported by data and analytics
  • A cyber insurance solution with broad coverage was put in place
  • A series of crisis management simulation trainings were undertaken to help improve control areas with low maturity rating

Client goals:

  • Obtain quotations for cyber insurance from experienced carriers and minimise administrative burden
  • Develop a greater understanding of how cyber insurance operates
  • Ensure that cyber coverage obtained is fit for purpose

Our approach:

  • The client completed Aon’s online cyber risk assessment (CyQu) and received a first cyber risk maturity score within 90 minutes
  • Within 10 days, our cyber risk consultants provided a custom CyQu report with prioritised recommendations and risk transfer strategies for the client
  • The client then completed our short insurance proposal form and received a competitive cyber insurance quote

Result:

  • Responsive turn-around time for application and quotation
  • A cyber insurance solution with broad coverage at a competitive price presented by a specialist cyber broker
  • Partnering with leading cyber insurers with an established cyber underwriting and claims settlement track record

Request your quote today