https://www.insurancejournal.com/news/national/2019/09/25/541167.htm
Insurance Journal
September 25, 2019
Insurance broker Marsh has unveiled the inaugural class of cybersecurity
products and services receiving a Cyber Catalyst designation that is part of an
evaluation program its backers hope will bring greater clarity in the crowded
cybersecurity marketplace.
Cyber Catalyst by Marsh, launched earlier this year, convened cyber insurers
Allianz, AXIS, AXA XL, Beazley, CFC, Munich Re, Sompo International and Zurich
North America to identify products and services they consider effective in
reducing cyber risk. Marsh said more than 150 cybersecurity offerings, spanning
a broad range of categories from hardware to messaging security to Internet of
Things (IoT) security, were submitted for evaluation.
Under the program, the selected cyber insurers evaluate the cybersecurity
offerings that address major cyber risks such as data breach, business
interruption, data theft or corruption, and cyber extortion. Microsoft is a
technical advisor to the insurers. Marsh does not itself take part in the
evaluations.
Insureds that adopt Cyber Catalyst-designated products may be considered for
enhanced terms and conditions on individually negotiated cyber insurance
policies with participating insurers. Marsh said it has worked with each
participating insurer to establish endorsement wordings that reflect the
coverage enhancements that those insurers might offer to Marsh clients that
adopt one or more Cyber Catalyst-designated solution.
[...]
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