Aon launches diagnostic tool to help clients identify cyber risk

Aon Risk Solutions, the global risk management business of Aon plc, has released a new cyber diagnostic tool to help risk managers better identify and understand exposure to cyber risk.

Noting that high-profile profile attacks are raising cyber as an emerging risk, the tool was introduced at the Federation of European Risk Management Associations (FERMA) Forum in Maastricht Monday.

Created in response to Aon data that highlights cyber is not yet recognized as seriously in the European Union as it is in the United States, the diagnostic tool is expected to be rolled out worldwide over the coming months, notes a statement from Aon, a global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services.

The tool is meant to help risk managers better identify and understand their exposure to cyber risk, using a series of multiple choice questions to assess how employees use technology, the current controls in place and management’s attitude to cyber risk, the statement says.

The tool then provides meaningful insight into the most important cyber risk topics and includes practical guidance on related governance frameworks that should be in place as part of an effective cyber risk management strategy, Aon adds.

Recent high-profile attacks “are demonstrating how cyber crime is an increasing business risk and should be taken seriously by the board,” says Kevin Kalinich, Aon’s group practice leader – cyber.

Noting that businesses in all industries are increasingly reliant on technology and information assets, “prudent risk managers ask how they can increase their ability to classify and prioritize cyber exposures,” Kalinich points out.

Aon’s Global Risk Management Survey of more than 1,000 risk managers showed that they underrated cyber compared to its likelihood. “It is essential that risk managers are given every support to fully understand the depth of cyber exposure,” Kalinich says, adding that the tool is meant to “help them develop a road map to achieve such enterprise risk management with respect to cyber.”