Marsh Reveals Inaugural Class of Cyber Catalyst Designated Solutions
New York | September 25, 2019
Insurers Identify 17 Cybersecurity Solutions They Consider Effective in Reducing Cyber Risk
Marsh, the world’s leading insurance broker and risk adviser, today announced the inaugural class of cybersecurity solutions receiving a Cyber Catalyst℠ designation as part of a first-of-its-kind evaluation program designed to bring organizations greater clarity in the crowded cybersecurity marketplace.
Cyber Catalyst by Marsh℠, launched earlier this year, convened leading cyber insurers Allianz; AXIS; AXA XL, a division of AXA; Beazley; CFC; Munich Re; Sompo International; and Zurich North America to identify products and services they consider effective in reducing cyber risk. More than 150 cybersecurity offerings, spanning a broad range of categories from hardware to messaging security to IoT security, were submitted for evaluation.
Ultimately, 17 solutions were selected for the Cyber Catalyst designation:
“Cyber Catalyst is a ground-breaking approach to help organizations make well-informed decisions in the complex $125 billion cybersecurity marketplace,” said Tom Reagan, US Cyber Practice Leader, Marsh. “This year’s class of 17 Cyber Catalyst designated solutions leverages the experience and insights of the insurance industry to broaden the discussion around best practices and drive improved 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.
More information about the inaugural class of Cyber Catalyst solutions and the selection process can be found at www.marsh.com/cybercatalyst.
The next Cyber Catalyst program cycle is expected to open in 2020.
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.