Aon identify cyber as the number one emerging insurance risk

Aon identify cyber as the number one emerging insurance risk

International risk advisory firm, Aon Risk Solutions will commence a Cyber Series in September 2017 dedicated to sharing information on the various elements of cyber risks and exploring how organisations can mitigate their exposures in these areas.

Newcastle Branch Manager, Greg Silcock said Aon’s Newcastle branch continues to see cyber as the fastest growing risk in the Hunter region, with organisations becoming more aware of their own vulnerabilities in this space.

“With recent ransomware incidents of WannaCry and Petya affecting hundreds of businesses worldwide, it highlighted how small to medium businesses are just as vulnerable, if not more so, to attacks of this kind,” Greg said.

Aon have been leading the way in expanding their cyber capabilities globally with 2016 seeing the acquisition of leading global cyber risk management firm, Stroz Friedberg, and the appointment of the FBI’s highest ranked cyber expert, Jim Trainor.

“The acquisition of Stroz Friedberg positions Aon as the global leader in cyber risk management and brokerage integrating cyber security governance and advisory services, which include penetration testing, incident response, digital forensics, eDiscovery and due diligence capabilities,” Greg said.

The threat of criminals gaining access to personally identifiable data relating to clients or employees, through to actions designed to disrupt networks or hold intellectual property hostage, can expose organisations to a multitude of financial and reputational risks. Now, with mandatory data breach reporting legislation coming into effect in Australia from 2018, organisations are more accountable than ever before to protect their data and respond appropriately where a breach occurs.

“We are finding our customers are crying out for guidance on how to prepare for this developing risk and, importantly, how to select the right products to protect their brand and bottom line,” Greg said.

“We’ve made significant investments globally and in Australia. We have a dedicated, online cyber page which is aimed at giving organisations useful information regarding emerging cyber risks, recent cyber-attacks and various new articles from around the world.

“We’ve also developed a free cyber diagnostic tool that gives a high-level understanding of the risks facing your organisation in this area.

“Locally, our Newcastle team is eager to share insights and connect our clients with the experts in this area. In the past two months alone we have run webinars on protecting your brand and reputational risks as well as hosted a Client Forum at the Newcastle Club in July this year.

“The Cyber Series is another example of how we are continuing to deliver the benefits of a global firm to our local market.”

The series commences in September 2017 and will finish in December 2017, covering ransomware, the Internet of Things, the regulatory environment, social media and cloud computing.

IMAGE | Aon is launching a Cyber Series this month to help educate local businesses on cyber security.


Aon are a local risk advisor providing a broad range of risk, retirement and health solutions to the hunter for more than 50 years. Based out of The Junction they are bring the firm’s global expertise and capability to their local clients including access to industry experts, training, data and analytics and emerging risk intelligence from around the world.


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