Aon Plc, a leading global professional services firm, provides a wide range of risk, retirement, and health solutions to clients. One of the critical areas of focus for Aon is cyber risk, which has become a significant concern for organizations of all sizes and industries. As technology advances and the digital landscape evolves, the threat of cyber-attacks and data breaches has increased, making it essential for companies to have a comprehensive cyber risk management strategy in place.
Cyber Risk Landscape
The cyber risk landscape is constantly changing, with new threats and vulnerabilities emerging daily. Phishing attacks, ransomware attacks, and denial-of-service (DoS) attacks are just a few examples of the types of cyber threats that organizations face. According to Aon’s 2022 Cyber Risk Report, the average cost of a data breach is around $4.2 million, highlighting the significant financial impact of cyber-attacks. Furthermore, the report notes that cyber insurance is becoming an increasingly important component of an organization’s cyber risk management strategy, as it can provide financial protection in the event of a cyber-attack.
Cyber Risk Assessment
Aon’s cyber risk assessment services help organizations identify and understand their cyber risk exposures. This involves a comprehensive review of an organization’s cyber security controls, incident response plans, and data protection policies. Aon’s team of cyber risk experts uses a range of tools and techniques, including vulnerability scanning and penetration testing, to identify potential vulnerabilities and weaknesses in an organization’s cyber security defenses. The results of the assessment are then used to develop a tailored cyber risk management plan, which outlines the steps that an organization needs to take to mitigate its cyber risk exposures.
| Cyber Risk Category | Percentage of Organizations Affected |
|---|---|
| Phishing attacks | 76% |
| Ransomware attacks | 55% |
| Denial-of-service (DoS) attacks | 45% |
Cyber Insurance
Aon’s cyber insurance services provide organizations with financial protection in the event of a cyber-attack. Cyber insurance policies can help cover the costs associated with responding to a cyber-attack, including the costs of incident response, data restoration, and legal fees. Aon’s team of cyber insurance experts works with organizations to develop a tailored cyber insurance program, which takes into account their specific cyber risk exposures and needs. According to Aon’s 2022 Cyber Risk Report, the demand for cyber insurance is increasing, with 70% of organizations purchasing cyber insurance in 2022, up from 55% in 2020.
Cyber Risk Management
Aon’s cyber risk management services help organizations develop and implement a comprehensive cyber risk management strategy. This involves a range of activities, including cyber security awareness training, incident response planning, and vulnerability management. Aon’s team of cyber risk experts works with organizations to identify and prioritize their cyber risk exposures, and to develop a tailored plan to mitigate those risks. The plan may include a range of measures, such as firewall configuration, intrusion detection, and encryption.
- Conduct regular cyber security awareness training for employees
- Develop and implement a comprehensive incident response plan
- Implement vulnerability management practices to identify and remediate vulnerabilities
What is the average cost of a data breach?
+The average cost of a data breach is around $4.2 million, according to Aon’s 2022 Cyber Risk Report.
What is cyber insurance, and how can it help my organization?
+Cyber insurance provides financial protection in the event of a cyber-attack, helping to cover the costs associated with responding to a cyber-attack, including incident response, data restoration, and legal fees.
How can Aon help my organization develop a comprehensive cyber risk management strategy?
+Aon’s team of cyber risk experts can help your organization develop and implement a comprehensive cyber risk management strategy, including cyber risk assessment, cyber insurance, and cyber risk management services.
