Re/insurance broker Marsh has announced the 2020 opening of its Cyber Catalyst program, which aims to evaluate and designate products and services that can be effective against major cyber threats.
In the inaugural 2019 program, more than 150 products and services were submitted for evaluation, with 17 ultimately receiving a Cyber Catalyst designation.
This year, Marsh will run the program with participation from several leading re/insurers, including Allianz, AXA XL, Beazley, CFC, Munich Re, Sompo International, and Zurich North America.
These companies also identified what they view as the top five cyber risks for 2020, naming ransomware, data collection, supply chain/vendor management, cloud migration, and social engineering.
“With the Cyber Catalyst program, we are providing a significant metric to help our clients and other organizations identify cybersecurity solutions that insurers believe will really make a difference,” said Thomas Reagan, US Cyber Practice Leader, Marsh.
“We look forward to showcasing more valuable Cyber Catalyst designated solutions later this year that will help even more organizations improve their cyber risk management outcomes.”
The second Cyber Catalyst program opens for product submissions on March 10, and the 2020 Cyber Catalyst designations are expected to be awarded in September.
