San Juan, Puerto Rico (Aug. 1, 2023) \u2013 Aon plc, a leading global professional services firm, today published its 2023 Cyber Resilience Report, revealing that, on average, a major cyber incident resulted in a 9 percent decrease in shareholder value \u2013 over and above the market \u2013 in the year following the event. The report serves as a guide to help business leaders benchmark their organization\u2019s cyber risk maturity against peers and make better decisions when managing cyber across six risk areas: cyber, operational, supply chain, insider, reputational and systemic.<\/p>\n
Aon\u2019s global report is based on proprietary client data collected from Aon\u2019s Cyber Quotient Evaluation (CyQu), Aon\u2019s Ransomware Supplemental Application and Aon\u2019s Operational Technology Application. CyQu is a global eSubmission and risk assessment platform that helps organizations better manage cyber risk by providing visibility into cyber exposures and insurability drivers.<\/p>\n
\u201cCompanies have experienced new forms of volatility over the last four years, experiencing a rise in the frequency and severity of cyber threats and ransomware events, followed by a cyber insurance market with rising premiums and retentions and significant underwriting scrutiny,\u201d said Christian Hoffman, global cyber leader for Aon. \u201cWe observe that the C-suite increasingly sees that cyber events have the potential to impact all areas of their business. Achieving cyber resilience is a recurring theme in board room discussions and the threat is now being addressed from a holistic risk perspective.\u201d<\/p>\n
Additional highlights from the global report include:<\/p>\n
Aon also published key insights by industry, including:<\/p>\n
\u201cAchieving cyber and business resilience is a challenging endeavor for any organization. Through Aon\u2019s broking and consulting capabilities, we help organizations navigate volatility and more appropriately minimize financial, operational and reputational risk,\u201d Hoffman added.<\/p>\n
Aon collected CyQu self-assessment scores from 2,946 client organizations in Asia Pacific, EMEA, Latin America, North America and the UK in 2020 and 2022. The study focused on six areas of risk \u2013 cyber, insider, operational, reputational, supply chain and systemic \u2013 in the finance and insurance, healthcare and manufacturing industries. Aon plans to release additional data and insights, including regional findings, later this year.<\/p>\n
Aon\u2019s CyQu evaluation features patent-pending analytics methodology and is rooted in both ISO standards and the National Institute of Standards and Technology framework. The framework is regularly adjusted to contemplate feedback from the cyber insurance underwriting community. Accepted by all major U.S. markets, CyQu and its Supplemental applications help align over 65 cyber insurers around a single client insurance submission process. The CyQu self-reported assessment scores risk in 35 critical controls across nine security domains to offer greater insight into an organization\u2019s most significant risks and control effectiveness.<\/p>\n
View the 2023 Cyber Resilience Report<\/em> here<\/strong><\/a>. To learn more about cyber resilience, access Aon\u2019s H1 2023 E&O Cyber Report<\/em> here<\/strong><\/a>, read about how to mitigate insider threats here<\/strong><\/a>, and listen to episode 42 of the \u201cOn Aon\u201d podcast here<\/strong><\/a>.<\/p>\n Aon plc (NYSE:AON)<\/i> exists to shape decisions for the better \u2014 to protect and enrich the lives of people around the world. Our colleagues provide our clients in more than 120 countries and sovereignties with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business. For more information, visit www.aon.com<\/a>.<\/p>\n SOURCE: Aon plc<\/i><\/p>\n Tags: Aon<\/a>, benchmarking<\/a>, cyber attacks<\/a>, cyber risk<\/a>, cyber security<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" San Juan, Puerto Rico (Aug. 1, 2023) \u2013 Aon plc, a leading global professional services firm, today published its 2023 Cyber Resilience Report, revealing that, on average, a major cyber incident resulted in a...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20538"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20538"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20538\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}About Aon<\/b><\/h4>\n