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
Global Insurance Market Quarterly Briefing — July 2014
July 28, 2014  |  Views: 4264 |  Comments: 0 
Global Insurance Market Quarterly Briefing — July 2014
Strong capacity led to the fifth quarter of falling insurance rates as the Marsh Global Index dropped below second-quarter 2012 levels. .  >>
UK and Ireland 2014 Cyber-Risk Survey Report
June 24, 2014  |  Views: 1262 |  Comments: 0 
UK and Ireland 2014 Cyber-Risk Survey Report
Despite several high profile breaches, many UK and Ireland companies have not yet fully assessed the exposure.  >>

Additional Thought Leadership
Cyber-Insurance Market for Power Companies Growing
September 25, 2014  |  Views: 4035 |  Comments: 0 
Cyber-Insurance Market for Power Companies Growing
Andrew Herring quoted in EnergyWire.  >>
Use of Captives Increases Despite Insurance Soft Market
August 27, 2014  |  Views: 7540 |  Comments: 0 
Use of Captives Increases Despite Insurance Soft Market
Julie Boucher interviewed by A.M. Best TV.  >>
The Risk of Cyber-Attack to the Maritime Sector
July 23, 2014  |  Views: 6499 |  Comments: 0 
The Risk of Cyber-Attack to the Maritime Sector
We examine the issue of cyber risk in the maritime sector and the potential consequences of an attack.  >>
US Senate Passes Bill That Would Extend Federal Insurance Backstop
July 18, 2014  |  Views: 7720 |  Comments: 0 
US Senate Passes Bill That Would Extend Federal Insurance Backstop
Legislation extending TRIA now exists in both chambers of US Congress.  >>
Webcast: How Retailers and Restaurants Can Manage Cyber Risk
July 09, 2014  |  Views: 8834 |  Comments: 0 
Webcast: How Retailers and Restaurants Can Manage Cyber Risk
Our panel of experts covered insurance and other strategies to mitigate cyber risk.  >>
Sales of Cyber-Insurance Expected to Skyrocket
July 02, 2014  |  Views: 8497 |  Comments: 0 
Sales of Cyber-Insurance Expected to Skyrocket
Bob Parisi discusses the growth of cyber-insurance with CNBC.  >>
Responding To Global Risks: A Practical Guide for Business Leaders
June 16, 2014  |  Views: 8374 |  Comments: 0 
Responding To Global Risks: A Practical Guide for Business Leaders
Guide produced with Institute of Directors, PWC, and Zurich outlines lessons from World Economic Forum’s Global Risks 2014 report.  >>
Webcast: Hedge Funds and Cyber Risk: Understanding Your Insurance Coverage
June 03, 2014  |  Views: 10002 |  Comments: 0 
Webcast: Hedge Funds and Cyber Risk: Understanding Your Insurance Coverage
Determining what is covered under hedge fund professional liability and computer crime policies.  >>
Webcast: How the New Cybersecurity Framework Will Affect Critical Infrastructure Organizations
May 02, 2014  |  Views: 10808 |  Comments: 0 
Webcast: How the New Cybersecurity Framework Will Affect Critical Infrastructure Organizations
Marsh and the Department of Homeland Security Partner to Discuss the New Cybersecurity Framework (C3).  >>
Using Captives to Manage Cyber Risk
March 17, 2014  |  Views: 10631 |  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.  >>
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Marsh CloudProtect—A Cyber Policy Enhancement
Views: 27240 |  Comments: 1  | Article Rating
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.  >>
Cyber Gap Insurance for the Global Energy Sector
Views: 4182 |  Comments: 0 
Cyber Gap Insurance for the Global Energy Sector
Marsh's Cyber Gap Insurance address the coverage gap created by cyber risk exclusions (such as Clause CL380) on policies placed in the London Market.  >>
ERM Risk Assessment
Views: 22652 |  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: 25667 |  Comments: 0  | Article Rating
Intellectual Property and Critical Information Protection
Marsh Risk Consulting (MRC) has developed a comprehensive methodology to help organizations protect their IP and critical information.   >>
Marsh’s Cyber-Privacy Event Model: Analytics for Cyber Decision-Making
Views: 4885 |  Comments: 0 
Marsh’s Cyber-Privacy Event Model: Analytics for Cyber Decision-Making
Cyber IDEAL quantifies the likelihood that a company will incur a breach and its potential severity, helping determine insurance limits and retentions.  >>
Privacy and Computer Security Protection for Cyber Catastrophe Placements
Views: 2696 |  Comments: 0 
Privacy and Computer Security Protection for Cyber Catastrophe Placements
Cyber-CAT addresses catastrophic data and technology risks through an expansive insurance policy form designed to provide the broadest coverage.  >>
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September 04, 2014  |  Views: 3032
Marsh Launches Catastrophic Cyber Policy for Large Companies
Marsh, a global leader in insurance broking and risk management and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), announced the launch of a new cyber ins...  >>
July 08, 2014  |  Views: 3228
Marsh Launches Cyber Breach Modeling Capabilities
New model predicts probability and potential outcomes of cyber privacy events  >>
June 25, 2014  |  Views: 3429
Marsh Named Best Cyber Broking Team by Advisen
“We are honored to receive recognition for these efforts from Advisen as it validates our approach of bringing together a first-rate team to deliver best-in-class service to our cl...  >>
February 07, 2014  |  Views: 8045
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: 5977
Global Insurance Pricing Declines in Fourth Quarter: Marsh
US only region with higher overall renewal rates.  >>
January 16, 2014  |  Views: 6213
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: 5726
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: 6744
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: 5551
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: 6045
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.  >>
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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