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What’s happening: Aon has announced it has launched FI Protect 360, a new flagship solution for financial institutions (FIs) in the UK.  The solution provides insurance coverage that appropriately addresses the intersection between technology risks, more traditional risks and evolving threats such as cyberattacks.

• Created in collaboration with several leading London market insurers, FI Protect 360 is designed to address key operational risks faced by today’s FIs through a single offering, thereby helping to shape better risk management decisions.
• Daniel Roworth, head of financial institutions in Aon’s Global Broking Center, said, “We believe that this landmark new risk management solution fully understands and reflects the risk taxonomies of modern, technology-driven FIs, and effectively responds to the evolving threats facing them today. We see this as just the start and look forward to further enhancing and improving FI Protect 360 as the risk landscape for FIs continues to shift.”

Why it matters: Technology has become increasingly integral to the financial services industry, creating new and emerging risks in the process. Organizations require new risk mitigation and management solutions that address new forms of volatility beyond traditional policies.

• Read media coverage in Commercial Risk, Continuity Insurance and Risk, Insurance Business, Insurtech Insights, Insurance Journal, Intelligent Insurer, Reinsurance News and The Insurer.