We live in an era of widespread and continual digital transformation and as a result, cyber crime has become one of the most sophisticated, fastest growing crimes in the world.

Data protection and network security are leading risk issues for all businesses and the financial implications require a systematic change of attitude for many organisations.

Data and security breaches can result from external malicious or nuisance attacks or from internal human error and system failures. Managing these risks requires continuous focus and is further complicated by an increasing trend to outsource business functions to third parties such as payroll processors, data back-up and cloud related services.

No industry sector is untouched. All businesses, no matter how large or small, use technology and the collection of information to operate. A business could be particularly exposed to cyber risk if it:

  • Engages vendors, independent contractors or additional service providers

  • Gathers personal or corporate information

  • Has a high degree of dependency on electronic processes or computers

  • Has an online presence and/or point-of-sale machines

  • Has employees, particularly any potentially disgruntled employees

  • Has remote working, outside central place of business

  • Is subject to NZ or international privacy legislation

  • Is subject to Payment Card Industry Security Standards


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Understanding your business exposure

A cyber incident can be financially crippling with expenses comprising of your own costs to respond and third party costs incurred to defend and settle with others. 
A cyber-attack can financially impact your business in many ways, including:

  • Brand and reputation damage
  • Crisis expense
  • Legal defence expense
  • Lost income, productivity and profit
  • Regulatory expense
  • Third party liability 

Real claim, Real example

Wyatt Machine Tools suffered a cyber attack which got into the business operating, file and email systems and encrypted backups. The company servers and computers were taken down and the company could not operate.

Paul Wyatt , Company CEO and owner, shares his cyber risk insurance response experience. 


Aon Cyber Risk Insurance

Cyber insurance is designed to fill the gap that traditional insurance policies don’t cover, minimising the impact of cyber incidents by providing cover for your own loss and third party costs. It provides your business with a structured crisis response plan and assists with returning to ‘business as usual’.

A cyber insurance policy will also provide:

24/7 access to cyber response specialist IT, PR, legal and forensic experts to: 
       • Quickly restore or recreate data or software 
       • Manage customer obligations and business reputation
       • Keep the business running

Cover for costs including:
       • Cyber response specialist   
       • Business interruption and lost profit/income  
       • Data retrieval or systems held to ransom
       • Defence and settlement from third party claims and privacy regulators
       • A free 1-hour cyber consultation from experts to assist with review, planning and response specific to your business.

Aon provides a holistic approach to managing cyber risk, including:

Identification | cyber risk profiling to help you gain a thorough understanding of your cyber risk exposures and areas of improvement.

Mitigation | cyber incident readiness assessments to evaluate your response capabilities during a crisis situation.

Transfer | bespoke cyber insurance solutions that suit your company’s specific risk profile.

Flexible pricing and policy options are available to suit your business with very competitive premium and excess.

Not sure if your business need a cyber risk policy?

Take our quick five question self-analysis. If you answer yes to any of these questions, you may want to consider cyber risk insurance for your business.

Five question self-analysis

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COVID-19 Cyber Risk | Stay alert, be secure.

Covid-19 has transformed the way that many Kiwi businesses operate. The expansion into online service has provided new opportunity, but it has also brought new and heightened risk when it comes to cyber crime. For organisations to survive and thrive in this new world, maintaining cyber resilience is paramount.

Traditional insurance is not enough to protect your business from cyber crime. A robust cyber insurance policy can help to protect your income and the future of your business.

COVID-19 cyber resources
How to be cyber resilient during COVID-19
Practical steps to keep your business cyber safe during COVID-19 
Aon’s COVID-19 Response site

Aon | Our story

Aon are leaders in helping businesses to identify, manage and insure cyber risks. Our in depth understanding of cyber exposures enables us to assist with reducing risk and negotiating cyber coverage in what is a complex and developing area of insurance.

Aon’s dedicated cyber team form part of a global cyber practice which allows Aon to share with you experiences from our clients and insurers from around the world. This will assist you when arranging cover, benchmarking premiums and responding to cyber incidents.

Aon Risk Management Services offers Insurable Risk Profiling and Gap Analysis for cyber risk exposures. Using a structured method of risk analysis to determine key risks and their financial impact, allows for a more granular view of risk and assists with risk management and transfer strategies. The output demonstrates good corporate governance and can easily be linked to your organisation’s broader risk management activities.

News and Articles

How to be cyber resilient during COVID-19
COVID-19 has transformed the way we work in order to deliver results for clients and stakeholders. For organisations to survive and thrive in this new world, maintaining cyber resilience is paramount. Hackers often exploit large scale events and COVID-19 is no exception. At Aon, we have witnessed a variety of attacks where criminals attempt to exploit the current situation. Read more.

Practical steps to keep your business cyber safe during COVID-19 
It is a sad state of affairs when a global virus proves to be a nexus to computer viruses. However, one of the immutable laws of the universe is ringing true: ‘out of disaster, comes opportunity’. With specific reference to computer viruses, the criminal element is unfortunately taking said opportunity and using a terrible global health pandemic to cause another kind of pandemic – phishing-style attacks. Read more.

A clear pathway to Cyber Risk
Less than 10% of New Zealand companies buy cyber insurance; yet cyber risk is in the top three risks identified in any risk survey. Why is there such a huge disconnect? Read more.


This website contains general information only and does not take into account your individual needs or financial situation. It is important to note that limits, excesses, terms and conditions and exclusions apply to the products and services outlined on this website. Please refer to the relevant policy documents for details of cover, the provision of which is subject to the insurer’s underwriting criteria that apply at the time. Please contact us if you have any questions.