Marsh USA  

CYBER RISK


Marsh works with leading cyber risk insurers to develop cyber risk insurance protection for a wide range of Internet and network exposures.

Cyber Risk

Internet and networked technologies have changed many aspects of how business operates. The ability to readily store and share data across interconnected networks has created new efficiencies in sales and marketing, data access and retrieval, and vendor relations and interaction.

While the benefits of using Internet-based and other technologies are numerous, so are the inherent risks, creating exposures that were virtually unheard of two decades ago. These include:

  • theft or manipulation of sensitive or private information, such as financial or health records;
  • computer viruses that can destroy data, damage hardware, cripple systems and disrupt a business' operations; and
  • computer fraud.

Unfortunately, Internet and network exposures are increasingly subject to exclusion from "traditional" insurance policies since commercial general liability and property policies were originally designed to respond to liabilities and natural perils that damage physical assets. With Internet-based technologies, "i-exposures" are largely intangible, the result of human error, or deliberate malicious attacks and crimes.

To protect against these and similar exposures, Marsh offers risk management and insurance solutions to address these complex risks, including:

  • detailed insurance gap analysis;
  • network security survey to assess vulnerability;
  • security policy review and development;
  • network vulnerability scans; and
  • assessment of internet connectivity vulnerability.

Marsh works with leading cyber risk insurers to develop cyber risk insurance protection for Internet and network exposures, including:

  • liability: privacy and confidentiality;
  • copyright, trademark, defamation;
  • malicious code and viruses;
  • business interruption: network outages, computer failure;
  • attacks, unauthorized access, theft, Web site defacement and cyber extortion;
  • technology errors & omissions; and
  • intellectual property infringement.
Marsh Risk Management Research
Data Security and Information Privacy Risks in the Retail Industry
April 07, 2014  |  Views: 1530 |  Comments: 1 
Data Security and Information Privacy Risks in the Retail Industry
Retailers are among the industries most affected by cyber breaches — but there are steps to take to mitigate the risk.  >>
Benchmarking Trends: Interest in Cyber Insurance Continues to Climb
March 31, 2014  |  Views: 1474 |  Comments: 0 
Benchmarking Trends: Interest in Cyber Insurance Continues to Climb
As cyber incidents increased in frequency and severity in 2013, the percentage of companies that purchased cyber insurance rose by double digits.  >>

Additional Thought Leadership
Using Captives to Manage Cyber Risk
March 17, 2014  |  Views: 1023 |  Comments: 0 
Using Captives to Manage Cyber Risk
A captive can be used to build a statistical base, which can make securing coverage at acceptable rates and terms easier.  >>
Casualty Insurers Resist Coverage for Cyber Claims
March 11, 2014  |  Views: 2222 |  Comments: 0 
Casualty Insurers Resist Coverage for Cyber Claims
Carriers are litigating insureds’ claims and introducing cyber liability exclusions.  >>
A General Counsel’s Cyber Resolutions for 2014
February 19, 2014  |  Views: 3624 |  Comments: 0 
A General Counsel’s Cyber Resolutions for 2014
Marsh & McLennan Companies General Counsel Peter Beshar outlines seven steps to protect against cyberattacks.  >>
Webcast: Cyber Threats Against Energy Resources, Power Companies, Utilities, and Other Critical Infrastructure Organizations (Replay)
February 10, 2014  |  Views: 10531 |  Comments: 0 
Webcast: Cyber Threats Against Energy Resources, Power Companies, Utilities, and Other Critical Infrastructure Organizations (Replay)
Experts from Marsh's US Energy and FINPRO practices and security firm Mandiant explored strategies for defending against cyberattacks and examined the insurance solutions addressin...  >>
Midsize Firms Expand Social Media Use, But Often Underestimate Risks
February 04, 2014  |  Views: 5286 |  Comments: 0 
Midsize Firms Expand Social Media Use, But Often Underestimate Risks
Eric Seyfried quoted in Business Insurance.  >>
World Economic Forum: Global Risks 2014
January 16, 2014  |  Views: 11919 |  Comments: 0 
World Economic Forum: Global Risks 2014
Top global risks include fiscal crises in key economies, unemployment, water crises, and income disparity   >>
Looming EU Rule Change Could Spur Insurance Take-up
November 21, 2013  |  Views: 10403 |  Comments: 0 
Looming EU Rule Change Could Spur Insurance Take-up
Bob Parisi quoted in the Financial Times.   >>
EU Adviser – Data Protection Regulation
November 04, 2013  |  Views: 12571 |  Comments: 0 
EU Adviser – Data Protection Regulation
Following a vote by the EU's Committee on Civil Liberties, Justice & Home Affairs, far-reaching data protection regulation is a step closer to being introduced.  >>
Energy Market Monitor News – August 2013
September 04, 2013  |  Views: 13395 |  Comments: 0 
Energy Market Monitor News – August 2013
This edition states that an abundance of capacity characterises the current state of the energy insurance market – a theme that is consistent across most segments.  >>
Data Threats Spark Insurance Hunger
August 22, 2013  |  Views: 15719 |  Comments: 0 
Data Threats Spark Insurance Hunger
Bob Parisi quoted in CFO  >>
Change selection(s) to sort. Sort by:
Marsh CloudProtect—A Cyber Policy Enhancement
Views: 18348 |  Comments: 1 
Marsh CloudProtect—A Cyber Policy Enhancement
Marsh’s CloudProtect is a scalable risk transfer solution customized for each client based on its unique exposures, defined through Marsh’s comprehensive risk analyses.  >>
ERM Risk Assessment
Views: 14063 |  Comments: 0 
ERM Risk Assessment
Marsh Risk Consulting’s (MRC) highly efficient ERM risk assessment process can help organizations quickly understand and prioritize critical, enterprise-wide risks and develop plan...  >>
Intellectual Property and Critical Information Protection
Views: 16976 |  Comments: 0 
Intellectual Property and Critical Information Protection
Marsh Risk Consulting (MRC) has developed a comprehensive methodology to help organizations protect their IP and critical information.   >>
Change selection(s) to sort. Sort by:
February 07, 2014  |  Views: 2276
Favorable US Insurance Market Conditions Expected in 2014: Marsh
The ample capacity and competition that helped temper firming of US commercial insurance rates in 2013 is expected to continue into 2014, barring higher than expected catastrophe l...  >>
February 05, 2014  |  Views: 1856
Global Insurance Pricing Declines in Fourth Quarter: Marsh
US only region with higher overall renewal rates.  >>
January 16, 2014  |  Views: 2221
Worsening Wealth Gap Seen as Biggest Risk Facing the World in 2014
According to the World Economic Forum Global Risks 2014 reportthe chronic income gap between the rich and poor is most likely to cause damage globally in the next decade.  >>
October 21, 2013  |  Views: 3288
Critical Infrastructure Facing Increased Cyber Risk: Marsh
Need for better data and asset protection as cyber attacks become more sophisticated and regulations increase.  >>
September 18, 2013  |  Views: 4141
Supply Chain Disruptions Due to Technology Outages More Debilitating Than Adverse Weather Events
While cyber insurance can offer financial protection in the event of an IT outage, it alone is not an alternative to solid risk management.  >>
September 04, 2013  |  Views: 2969
Marsh Urges Energy Insurance Market to Rethink Cyber Clauses
Continuing uncertainty surrounding the application of cyber exclusion clauses in policy wordings by insurers is eroding the value of insurance and causing mounting concern among gl...  >>
April 05, 2013  |  Views: 3479
Matt McCabe Joins Marsh's Growing Cyber Practice
Mr. McCabe brings to Marsh more than a decade of experience in the legal and cyber security realms.  >>
March 14, 2013  |  Views: 6088
Number of Companies Buying Cyber Insurance Up by One-Third in 2012: Marsh
Services and educational sectors lead the way in purchasing coverage.  >>
January 24, 2013  |  Views: 3545
Marsh Webcast January 30: US Insurance Markets and Risk Trends in 2013
Insurance buyers will likely continue to face a challenging marketplace in 2013, compounded by fallout from Superstorm Sandy, economic and regulatory uncertainty, political risk, a...  >>
December 19, 2012  |  Views: 11953
Global Insurance Rate Firming Slowed in Q4, Despite Sandy
US east coast storm not expected to be market-changing event  >>
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Cyber Risk Toolkit

Marsh's Cyber Risk Management Toolkit offers industry leading perspectives to help your organization best prepare to mitigate the risk.

Go To Toolkit >>

Contacts
Robert Parisi Jr
FINPRO Cyber & Technology Product Lead
New York NY United States
212 345 5924
robert.parisi@marsh.com