Aon is expanding its global data security offering in the Australian market, establishing a new cyber solutions group.

The group, which brings together Aon's cyber consulting and insurance operations, will be led by Chris McLaughlin and is intended to help clients uncover and quantify cyber risks, protect critical assets and recover after incidents.

Mr McLaughlin previously led PwC’s cyber transformation and strategy team, providing cyber-security consulting services to some of Australia’s largest companies.

Cyber attacks can “result in significant damage to reputation and brand, and potential directors’ and officers’ liability exposures, as well as having significant financial implications”, he says.

Aon, which predicts cyber will become the third-biggest risk by 2022, says threats vary widely by industry and region, and staying informed about the evolving danger is a key challenge.