17 Cybersecurity Products the Cyber Insurance Industry Says Are Worthwhile

[InfoSec News <alerts () infosecnews org>]

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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