Latest news with #Aon
Yahoo
a day ago
- Business
- Yahoo
Aon's updated Florida hurricane model secures commission approval
Aon's updated Florida hurricane model has received certification from the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) for use in insurance ratemaking. This model was crafted by the company's Impact Forecasting team and incorporates the latest hurricane records, sea-surface temperature data and research to provide insurers with a perspective on risk. This move follows the previous certification of Aon's US flood model by the FCHLPM. The hurricane model will be included in Impact Forecasting's ELEMENTS 18.1 platform. Aon Impact Forecasting regulatory compliance lead David Colbus said: 'This certification highlights our continued innovation in the modelling space, and our drive to gain a better understanding of natural perils. 'The updated Florida hurricane model is an example of a collaborative effort within our firm that has resulted in a leading solution to quantify and manage risk, ultimately helping our clients to make better business decisions.' The model features an event set that evaluates wind hazard throughout a hurricane's life cycle and its vulnerability component is supported by claims data from recent hurricane seasons. Insurers in Florida can now utilise this certified model to better understand and manage the risks associated with hurricanes, the company said. Radovan Drinka, model development lead for US hurricanes at Aon's Impact Forecasting, said: 'As part of this update, we improved the underlying statistical framework in the area of claims and vulnerability, which has led to a more accurate sampling of storm losses. 'Meanwhile, through propriety and academic research, we bring clarity and confidence to hurricane analysis in order to help our clients reduce volatility across their portfolios and build business resilience.' "Aon's updated Florida hurricane model secures commission approval " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
2 days ago
- Business
- Cision Canada
NFP Welcomes Darrin De Stephanis, Expanding Commercial Surety Practice in Canada Français
Addition strengthens NFP's construction surety advisory and solution services across North America TORONTO, June 20, 2025 /CNW/ -- NFP, an Aon company and leading property and casualty (P&C) broker, benefits consultant, wealth manager and retirement plan advisor, has appointed Darrin De Stephanis as senior vice president, Capital Solutions and Commercial Surety Growth Leader. De Stephanis, based in Vancouver, will report to Adrian Pellen, co-leader of NFP's Construction and Infrastructure (C&I) Group. "I'm excited to welcome Darrin to NFP as we continue to expand our cross-border C&I business," said Pellen. "With his impressive background across the surety industry, Darrin is in a great position to help grow our commercial surety business and advise clients on effective capital structures. This addition supports our goal of providing surety solutions that align with our clients' needs while elevating NFP's role as a top risk manager and leading broker in the space." De Stephanis has over a decade of experience in the surety industry, most recently as a manager of a national commercial surety portfolio at Intact. He began his career as a surety and subcontractor default insurance broker at Aon. De Stephanis is a chartered financial analyst (CFA) and sits on the social committee of CFA Society Vancouver. NFP's construction surety risk practice is part of its C&I Group, which covers the U.S. and Canada. The group is driven by a collaborative team of experts, which includes John Hyland, co-leader of NFP's C&I Group, and Thomas Henn, Head of Surety for NFP, and is focused on delivering a holistic approach to risk advisory that addresses the complex needs of North American clients. "I'm looking forward to being a part of a global team committed to providing an exceptional client experience in construction surety," said De Stephanis. "The construction industry, especially across the U.S.-Canadian border, is facing new challenges, and clients need a partner they can trust to understand this complex moment and help them navigate the uncertainty. I'm excited to build on NFP's excellent reputation and knowledge base to create new opportunities to engage and build confidence with clients." About NFP NFP, an Aon company, is an organization of consultative advisors and problem solvers helping companies and individuals address their most significant risk, workforce, wealth management and retirement challenges. With colleagues across the U.S., Puerto Rico, Canada, UK and Ireland, we serve a diversity of clients, industries and communities. Our global capabilities, specialized expertise and customized solutions span business and personal insurance, group benefits, retirement and individual solutions. Together, we put people first, prioritize partnerships and continuously advance a culture we're proud of. Visit to learn more.
Yahoo
5 days ago
- Business
- Yahoo
Aon's 2025 Global Cyber Risk Report Reveals Reputation Risk Events Can Reduce Shareholder Value by 27 percent
DUBLIN, June 17, 2025 /PRNewswire/ -- Aon plc (NYSE: AON), a leading global professional services firm, today released its 2025 Cyber Risk Report, revealing that cyber events that cause reputation risks can result in an average of 27 percent drop in shareholder value, highlighting the growing financial and reputational stakes of cyber risk. The findings build on Aon's 2023 research, which showed that major cyber incidents led to an average 9 percent decline in shareholder value over the following year. This year's report goes further, analyzing more than 1,400 global cyber events and identifying which types of attacks are most likely to evolve into reputation risk events and which can be the most damaging when they do. "Cyber risk is no longer just a technology issue — it's a boardroom issue," said Brent Rieth, global cyber leader at Aon. "Our latest research underscores the importance of proactive risk mitigation. Organizations that invest in preparedness and resilience are far better positioned to avoid the reputational and financial fallout that can follow a cyber event." Among the report's key findings: Of the 1,414 cyber events analysed, 56 developed into reputation risk events, which are defined as cyber incidents that attract significant media attention and lead to a measurable decline in share price. Companies affected by these reputation risk events experienced an average shareholder value decline of 27 percent. Malware and Ransomware attacks were the most likely to trigger reputational damage, accounting for 60 percent of all reputation risk events, despite making up only 45 percent of total cyber incidents. Five drivers of value recovery — preparedness, leadership, swift action, communication and change — were identified as critical levers for mitigating reputational fallout. The report also highlights the growing challenge of managing uninsurable risks. While cyber insurance can help transfer some financial exposure, reputation risk remains largely nontransferable, making proactive risk management and crisis response essential. "As cyber threats grow more complex and interconnected, companies need a clearer view of their exposure, stronger alignment between cybersecurity and insurance strategies, and the tools to make better, data-driven decisions. Aon is uniquely positioned to support clients through these challenges," added Rieth. Aon's 2025 Cyber Risk Report draws on proprietary data from the firm's Cyber Quotient Evaluation, a patented global e-submission platform that streamlines the cyber insurance intake process and empowers organizations with actionable insights into their cyber exposures and insurability — helping to strengthen both underwriting outcomes and cyber risk management strategies. About AonAon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses. Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon's newsroom and sign up for news alerts here. Media Contactmediainquiries@ (U.S., Canada and Puerto Rico): +1 833 751 8114International: +1 312 381 3024 SOURCE Aon plc
Cision Canada
5 days ago
- Business
- Cision Canada
Aon's 2025 Global Cyber Risk Report Reveals Reputation Risk Events Can Reduce Shareholder Value by 27 percent
DUBLIN, June 17, 2025 /CNW/ -- Aon plc (NYSE: AON), a leading global professional services firm, today released its 2025 Cyber Risk Report, revealing that cyber events that cause reputation risks can result in an average of 27 percent drop in shareholder value, highlighting the growing financial and reputational stakes of cyber risk. The findings build on Aon's 2023 research, which showed that major cyber incidents led to an average 9 percent decline in shareholder value over the following year. This year's report goes further, analyzing more than 1,400 global cyber events and identifying which types of attacks are most likely to evolve into reputation risk events and which can be the most damaging when they do. "Cyber risk is no longer just a technology issue — it's a boardroom issue," said Brent Rieth, global cyber leader at Aon. "Our latest research underscores the importance of proactive risk mitigation. Organizations that invest in preparedness and resilience are far better positioned to avoid the reputational and financial fallout that can follow a cyber event." Among the report's key findings: Of the 1,414 cyber events analysed, 56 developed into reputation risk events, which are defined as cyber incidents that attract significant media attention and lead to a measurable decline in share price. Companies affected by these reputation risk events experienced an average shareholder value decline of 27 percent. Malware and Ransomware attacks were the most likely to trigger reputational damage, accounting for 60 percent of all reputation risk events, despite making up only 45 percent of total cyber incidents. Five drivers of value recovery — preparedness, leadership, swift action, communication and change — were identified as critical levers for mitigating reputational fallout. The report also highlights the growing challenge of managing uninsurable risks. While cyber insurance can help transfer some financial exposure, reputation risk remains largely nontransferable, making proactive risk management and crisis response essential. "As cyber threats grow more complex and interconnected, companies need a clearer view of their exposure, stronger alignment between cybersecurity and insurance strategies, and the tools to make better, data-driven decisions. Aon is uniquely positioned to support clients through these challenges," added Rieth. Aon's 2025 Cyber Risk Report draws on proprietary data from the firm's Cyber Quotient Evaluation, a patented global e-submission platform that streamlines the cyber insurance intake process and empowers organizations with actionable insights into their cyber exposures and insurability — helping to strengthen both underwriting outcomes and cyber risk management strategies. About Aon Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.
Yahoo
14-06-2025
- Business
- Yahoo
LevelBlue to buy Aon's cybersecurity and IP litigation consulting groups
LevelBlue, a provider of cloud-based managed security services, has agreed to acquire Aon's cybersecurity and intellectual property (IP) litigation consulting groups. The financial terms of the deal have not been disclosed. The acquisition encompasses cybersecurity company Stroz Friedberg and Elysium Digital, known for technology-related IP litigation. Aon's consulting group offers a range of risk management services including adversary simulation, penetration testing and digital forensics. The move is expected to enhance LevelBlue's capabilities in cyber and high-tech IP litigation consulting and incident response. LevelBlue chairman and CEO Robert McCullen said: 'By combining LevelBlue's exceptional cloud-based, AI-driven managed detection and response platform with Stroz Friedberg's proactive cyber consulting and advanced digital forensic and incident response capabilities, we are introducing the industry's most comprehensive unified cybersecurity services platform. 'This platform will not only strengthen clients' defences pre-emptively but also empower them with deeper insights and faster incident resolution.' The integration will add approximately 300 technology professionals to LevelBlue's team, complementing its existing 24/7 managed detection and response services. Aon Cyber Solutions Security Consulting CEO David Yaches said: 'We are thrilled to join forces with LevelBlue. Our teams are aligned in mission and values, and this acquisition will allow us to serve clients with an expanded suite of cyber solutions and deeper technical expertise.' Santander is acting as financial advisor and Kirkland & Ellis as legal advisor to LevelBlue, while Lazard and Latham & Watkins are serving as financial and legal advisors, respectively, to Aon. Earlier this month, UK-based humanitarian organisation Start Network, in collaboration with Aon, unveiled a reinsurance product designed to support Start Ready, a global fund for early action in climate crises. "LevelBlue to buy Aon's cybersecurity and IP litigation consulting groups " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
