Markets/Coverages: Resilience Announces New Cyber Loss Prevention Tools; Amwins Forms New Transportation Entity; Aon Launches Suite of Risk Analyzer Tools

May 2, 2024

Resilience announced new integrated capabilities that enable enterprises to continuously monitor and prioritize their mitigation and transfer of cyber risk.

Following the launch of Technology Errors and Omissions (E&O) coverage earlier this year, the Resilience security team is expanding its industry-leading offerings – Essential Solution for Cyber Insurance and Edge Solution for Cyber Risk Management. Both offerings now include two new integrated features that build in loss prevention at no additional cost to policyholders:

  • Breach & Attack Simulation (BAS). Resilience’s BAS tests, powered by AttackIQ, enable organizations to rapidly validate security controls against up-to-date threat actor tactics and real-world techniques. With BAS, organizations can identify and remediate vulnerabilities before threat actors can exploit them.
  • Cyber Risk Profile Builder. This new integrated tool enables organizations to review and update their risk posture data, ensuring accurate risk quantification and gaining better insight into their risk profile to drive planning decisions, identify material risks, and support board considerations. The Cyber Risk Profile Builder aligns resources with risk priorities and maintains a clear and robust view of organizations’ cyber risk posture.

“In 2023, 96% of Resilience Edge Solution policyholders avoided claims with incurred losses. In addition, 85% of all Resilience clients that experienced ransomware attacks avoided paying a ransom in 2023, compared with 71% of cyber policyholders industrywide,” said Vishaal “V8” Hariprasad, CEO of Resilience.

With new coverage for Tech E&O liability for U.S. organizations with up to $10 billion in revenue, Resilience offers broad capabilities to help large enterprises manage complex cyber risks.

Amwins Forms National Transportation Underwriters

Amwins announced the formation of Amwins National Transportation Underwriters (ANTU). This entity brings together the expertise of Amwins Transportation Underwriters (ATU) and National Truck Underwriting Managers (NTUM), two long-standing MGAs dedicated to the transportation space who underwrite a combined $250M+ in annual premium.

As a single operating company, Amwins National Transportation Underwriters will provide clients with nationwide access to almost a dozen binding markets and a growing list of specialty transportation programs. With almost 80 employees spread across eight locations, retail agents will have easy access to transportation-certified underwriters with regional expertise for both fleet and non-fleet accounts.

The previously separate operating companies ATU and NTUM enjoyed successful legacies as independent organizations and within Amwins. Legacy organization ATU was formed via a number of Amwins’ transportation insurance underwriting acquisitions, starting with Seaboard Underwriters in 2003. Amwins acquired the NTUM legacy unit in 2021.

Justin Joyce, formerly president of NTUM, will lead the new Amwins National Transportation Underwriters binding unit. He has worked in transportation insurance his entire 20-year career and has a proven track record of building relationships with internal and external clients.

ANTU’s specialty programs unit—environmental transportation; freight broker liability and Advantage—will continue to be led by their program managers.

Aon Launches Suite of Risk Analyzer Tools to Help Clients Make Better Decisions

Aon plc launched a new suite of risk analyzer tools that allow brokers in North America to exposure data, quantify loss potential and help risk managers make better decisions based on total cost of risk. Aon will showcase the new analytic capabilities at the Risk Management Society’s (RIMS) RiskWorld conference in San Diego.

Aon’s Property Risk Analyzer is the latest release under Aon Actionable Analytics, which is how the firm brings together its data, tools and analytics professionals to make better decisions. The tool provides exposure visualizations and models potential losses and simulates the effect of different insurance policy options to determine which risks clients should retain or transfer. Delivering value to U.S. companies with property portfolios across the world, Aon’s Property Risk Analyzer delivers a modern analytical approach for clients valuing, aligning, articulating and ultimately making risk finance decisions.

Aon’s Property Risk Analyzer allows risk managers quick access to:

  • Data quality assessments, which improve model efficacy and consequently price of risk.
  • Modeled results at a location level distinguishing between natural catastrophe-driven exposure and attritional loss exposure.
  • Risk finance options, which allow brokers to explore program structures potentially available in the market across insurance, reinsurance, alternative risk transfer and capital market solutions.
  • Performative testing of insurance structures, which measures the total cost of risk of insurance against other risk transfer solutions.

Aon will also showcase existing and forthcoming analytic tools at RIMS including the firm’s:

  • Casualty Risk Analyzer, which uses a client’s loss and exposure data to evaluate their catastrophic risk potential and optimize their casualty insurance program.
  • Risk Financing Analytics, which helps organizations optimize the balance between risk tolerance and risk transfer decisions across their entire insurance portfolio.
  • Health Risk Analyzer, which allows organizations to model and assess financial risks associated with high-cost medical plan claimants and explore strategies to budget for, manage and reduce high-cost claimant risk.
  • D&O Risk Analyzer, which will test insurance options that help adequately protect directors, officers, and organizations from executive risks.
  • Cyber Risk Analyzer, which will incorporate insights gained from Aon’s Cyber Quotient Evaluation platform to optimize a client’s strategy for managing and transferring cyber risk.

Topics Lawsuits Cyber New Markets Aon Risk Management

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