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Over the past few years, cyber risk has gained prominence on the agenda of institutional investors, and it is a rapidly evolving issue. While much of the media attention to cybersecurity breaches has focused on incidents where large volumes of personal information have been stolen (such as social security numbers or credit card information), cyber risks exist even within organizations that do not typically handle large volumes of personal data. These risks can include phishing scams, ransomware attacks, or other network breaches.
In this white paper, we focus on some of the cyber risks associated with multi-manager portfolios—specifically those to which institutional investors are exposed by using third-party asset managers.
In particular, we consider the following:
- Types of cyber risks that may be present;
- Steps that can be taken to help mitigate these risks; and
- Aon’s approach to assessing third-party investment managers’ cybersecurity controls, policies, and procedures.
This piece focuses on cyber risks from outside investment managers. We recognize that many institutional investors, such as the plan administrators for pension plans, are also exposed to cyber risks. That is beyond the scope of this piece, although Aon has the capabilities to develop solutions in these areas.
To learn more, download the full whitepaper above.
This document has been produced by Aon’s Global Investment Center (GIC), a division of Aon plc, and is appropriate solely for institutional investors. Nothing in this document should be treated as an authoritative statement of the law on any particular aspect or in any specific case. It should not be taken as financial advice and action should not be taken as a result of this document alone. Consultants will be pleased to answer questions on its contents but cannot give individual financial advice. Individuals are recommended to seek independent financial advice in respect of their own personal circumstances. The information contained herein is given as of the date hereof and does not purport to give information as of any other date. The delivery at any time shall not, under any circumstances, create any implication that there has been a change in the information set forth herein since the date hereof or any obligation to update or provide amendments hereto. The information contained herein is derived from proprietary and non-proprietary sources deemed by Aon to be reliable and are not necessarily all inclusive. Aon does not guarantee the accuracy or completeness of this information and cannot be held accountable for inaccurate data provided by third parties. Reliance upon information in this material is at the sole discretion of the reader.
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Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
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