Marsh Announces Second Round of Cyber Catalyst Designated Solutions
New York | January 13, 2021
Ransomware, Data Management Among Top Cyber Risks Addressed
Marsh, the world’s leading insurance broker and risk adviser, today announced the second group of Cyber Catalyst℠ designated solutions that leading cyber insurers believe can be effective in combating today’s most significant cyber risks, including ransomware and data management.
Now heading into its third year, the Cyber Catalyst by Marsh℠ program brings together insurers Allianz Global Corporate & Specialty (AGCS); AXA XL, a division of AXA; AXIS; Beazley; CFC; Munich Re; Sompo International; and Zurich North America to evaluate cybersecurity solutions and award the Cyber Catalyst designation to those they believe can have a meaningful impact on cyber risk.
In this round, vendors were encouraged to submit products and services that addressed the top five current cyber threats identified by the participating insurers: ransomware, data management/privacy regulation, supply chain/vendor management, cloud migration/management, and social engineering. In all, more than 90 cybersecurity offerings were submitted for evaluation, and the following 15 were given the Cyber Catalyst designation:
“The Cyber Catalyst designees reflect today’s escalating cyber threat environment, particularly ransomware, which continues to intensify in frequency and severity among organizations of all sizes,” said Tom Reagan, US & Canada Cyber Practice Leader, Marsh. “In total, the program now showcases more than 30 products and services that can help organizations make more informed, confident cybersecurity purchasing decisions and improve their cyber risk management outcomes.”
Organizations that adopt Cyber Catalyst-designated solutions may be considered for enhanced terms and conditions on individually negotiated cyber insurance policies with participating insurers. Marsh 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.
For more information about the Cyber Catalyst solutions and the cyber risks they address, visit www.marsh.com/cybercatalyst.
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching US$17 billion and 76,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.