Insurance covers against system failures, internal mistakes, regulation and more
Aon Risk Solutions has launched a comprehensive cover that aims to insure more than a traditional cyber policy.
Its cyber enterprise solution can be applied across all industries and will rectify up to $400m (£307537356) in capacity per policy.
The cover includes network security breaches, product liability, business interruption, system failure expenses, cyber terrorism, supply chain disruption, EU general data protection regulation fines and penalties, privacy and security liability, media liability and technology errors.
Aon Risk Solutions is the insurance broking division of Aon and the policy is available through Aon’s network globally.
Each cyber risk will be considered by looking at an organisation’s cyber exposures and risk mitigation.
This means Aon will look at a firm’s cyber security posture, incident response, disaster recovery plan and cyber resilience.
What a company will be covered for is subject to individual policy terms and conditions.
Aon Risk Solutions cyber practice sales leader Stephanie Snyder said: “The impact of cyber risk has fundamentally changed.
“Aon cyber enterprise solution helps our clients think about cyber risk differently to address each organisation’s holistic cyber exposures under one policy.”
Aon Risk Solutions cyber practice leader Christian Hoffman 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 develop a more comprehensive approach to cyber risk.”