Aon unveils new digital cyber insurance for small and middle market

Re/insurance broker Aon has launched a digital cyber insurance solution for small and middle market businesses, designed specifically for businesses generating up to $100 million in annual revenue across sectors.

The new offering builds on other insurance products that Aon has recently introduced to middle market businesses.

It will enable businesses across a wide spectrum of industries, including retail, technology, professional services, manufacturing, and more, to go through the full end-to-end process of buying and managing cyber and professional liability insurance online.

By leveraging CoverWallet, the insurtech startup Aon acquired in January 2020, the broker is further expanding the solutions and services to 30 million small and medium-sized US businesses.

Christian Hoffman, CEO of cyber solutions North America at Aon, said: “As the world becomes increasingly interconnected online, cyber risks pose a growing threat to small and middle market businesses, which may have limited technology and security resources.

“With our online platform, we are making cyber insurance coverage incredibly accessible. We can also help businesses of various sizes protect themselves against risks including data breach, ransomware, contractual liability, media liability, business interruption, social engineering, and more.”