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Vol. 8 - Issue 4
April 30, 2019


WSJ: Insurers Creating a Consumer Ratings Service for Cybersecurity Industry


There was an interesting article in the March 27th Wall Street Journal: “Insurers Creating a Consumer Ratings Service for Cybersecurity Industry” (Leslie Scism).

According to Momentum Cyber, which tracks such things, there are 3,500 firms world-wide in the cybersecurity business.  Under a new program developed by Marsh (the brokerage unit of Marsh & McLennan) – called “Cyber Catalyst” -- cyber vendors can apply to have their offerings evaluated by certain insurers.  Marsh will collate the scores and identify the products and services considered effective at reducing cyber risk.  Then, a policyholder that uses an approved vendor may qualify for improved terms and conditions on a cyber policy with a participating insurer.  These include Allianz SE, AXA SA, Axis Capital Holdings Ltd., Beazley PLC, CFC Underwriting Ltd., Munich Re, Sompo International and Zurich Insurance Group AG.
Needless to say, if this program takes hold, it could make some cyber vendors very successful and it may be control, alt, delete for others.  I wonder how those cyber vendors, that don’t make the cut, may react.  If you are involved in cyber-related matters it is worth checking out the Journal article.


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