Mar 30, 2017
Cyberattacks are a growing threat to organizations of all types and sizes. It's no surprise that surveys of executives' top concerns show cyberattacks among the risks most likely to keep them up at night. While cyber insurance is available in the traditional insurance market, the types of coverage and limits available don't always match up well with organizations' real exposures. Enter captives as part of the solution. To that end, Aon Global Risk Consulting recently announced its Cyber Captive Program, a program meant to help organizations use their captives to better address their cyber risk exposures.
In this episode of Leff Communications Rethinking Risk podcast series, Peter Mullen, chief executive of Aon Captive and Insurance Management, discusses the Cyber Captive Program and how it can help companies address cyber risks. Critically, the program begins with helping organizations develop a thorough understanding of the nature of their exposures. From there, organizations can potentially use their captives to assemble needed limits, transfer cyber exposures to the reinsurance markets, and shape coverage that fits an organization's needs as its cyber exposures evolve.