Aon plc is continuing its investment in cyber by creating US$350 million of new reinsurance capacity and launching its silent cyber* solution.
Aon’s silent cyber solution is designed to partner with carriers in their journey to identify, quantify and mitigate the silent cyber risk by providing a clash solution** to reinsure the exposure in the interim period. Where the carrier chooses to provide affirmative cyber coverage going forward, Aon can arrange a reinsurance solution for that cyber exposure to sit across multiple lines of business.
The goal of the solution is to help insurers obtain more clarity on their cyber exposures with the option to exclude or recognize the exposure in each portfolio, and then evolve their reinsurance protections for cyber accordingly, said Aon in a statement. This will create more efficient reinsurance structures, while empowering clients to strategically underwrite cyber risk across all lines of their portfolios with greater certainty, the broker continued.
The solution is supported by an analytical, end-to-end process to help insurers:
- Identify their silent cyber exposures through wording and threat analysis
- Quantify their exposures…
