TOPIC SUMMARY
This presentation will explore the cyber insurance placement process from Aon’s point of view. Senior Cyber Solutions Brokers, Joe Frost and Jacob Mast will highlight what is needed from the client and the account team to ensure a smooth renewal process and avoid multiple additional information requests. Joe and Jacob will touch on the controls they’re looking for in the applications they’re reviewing prior to submitting to the markets for terms, as well as a timeline based on the relative size and complexity of the placement. Lastly, Joe and Jacob will summarize current market and claims trends, which in most cases drive the updated questions year to year.

LEARNING OBJECTIVES
1.  What exposure information is needed for the cyber renewal submission and underwriter focus on security controls

2.  Current claims trends and insurer coverage changes

3.  Current marketplace view for cyber insurance and view towards the end of the year as far as pricing and coverage terms are concerned

Joe Frost Senior Broker, Cyber Solutions Aon

Joe is a broker for Aon’s Cyber Solutions E&O/Cyber Broking team in the Central Region. In this role, he is responsible for consulting with clients on their cyber, professional liability, technology, and media risks by identifying exposures, managing insurance market relationships, and strategizing and creating tailored risk transfer solutions, as well as executing on policy terms, conditions, and servicing. 

Prior to joining Aon’s Cyber Solutions team in 2022, Joe was a Captain in the United States Army, serving as an Engineer Officer from 2017 until January 2022. He worked as a financial analyst for Aon prior to serving in the U.S. Army. He first began working in the industry in 2017.

Joe’s expertise includes placing cyber coverage for clients in the construction industry where he co-leads the Central Region’s coordination between the Aon Construction and Infrastructure Group and Aon’s Cyber Solutions Group.

Joe graduated from Indiana University’s Kelley School of business with a degree in finance.
 

Jacob Mast Senior Broker, Cyber Solutions Aon

Jacob is a Senior Broker for Aon's Cyber Solutions team in the Central Region. He is responsible for consulting with clients on Cyber, Professional Liability, Technology, and Media Risks by identifying exposures, managing insurance market relationships, strategizing, and creating tailored risk transfer solutions, as well as executing on policy terms, conditions, and servicing.

Jacob is experienced working with clients of different industry and size, with a focus on Manufacturing, Logistics and Distribution, Financial Industry, Healthcare, and Retail clients.  He primarily works as part of the National Account team while also supporting the Middle Market team.

Jacob graduated UW - Madison with a degree in Risk Management and Insurance where he focused on commercial risk solutions, including cyber-risk.