Aon product for banks combines cyber, crime, professional liability

Aon PLC said Monday it is introducing a product for midsized banks that combines coverages for cyber, crime and professional liability into one policy.

FI CyberCrime Plus, which is focused on banks with balance sheet assets of $10 billion to $100 billion, anticipates limits of $25 million to $35 million, according to the broker.

The blended policy is designed for banks to manage their operation risks with a single insurance purchase, Aon said in a statement.

It provides protection against network security breaches, data leakage, business interruption, system failure, ransomware, internal and external fraud, and customer litigation, the statement said.