Aon has announced findings from its Intangible Versus Tangible Risk Comparison Report 2024. The report identified that a persistent protection gap persists for intangible assets, with only 19 percent of intangible asset value insured compared to 60 percent for tangible assets.
The report offers businesses insights that will provide a better understanding of the evolving threats of artificial intelligence (AI), cyber and intellectual property (IP) and highlights the role insurance can play in protecting intangible assets to help organizations make better decisions regarding allocation of their finite resources to protect against tangible and intangible perils.
Additional key findings from the report include:
- The likelihood of a loss is higher for intangible assets than for tangible assets.
- The average total value of intangible assets is nearly 14 percent higher than that of tangible assets.
- The average probable maximum loss for intangible assets is almost 37 percent higher than that of tangible assets.
- 67 percent of organizations use or intend to use AI products or services.
- 56 percent of organizations had a material or significantly disruptive security exploit or data breach one or more times in the past 24 months.
- While most organizations do not have specific IP insurance policies, nearly two-thirds of organizations say they have an interest in purchasing them.
Aon sponsored the research, conducted by the Ponemon Institute, which sampled 2,462 organizations in North America, Europe, the Middle East, Africa, Asia Pacific and Latin America who are involved in cyber risk management and enterprise risk management activities for their companies.
