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Volume 32, Issue 2

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Tuesday, 09 April 2019 14:23

Cyber Catalyst Brings Minimal Value To Businesses

In late March, Marsh announced the launch of a program with a number of leading cyberinsurance firms including Allianz, AXA, Beazley, XL, and Zurich to evaluate cybersecurity products and services. Products that meet a minimum standard of criteria receive the designation of “Cyber Catalyst” for their effectiveness in reducing cyber risk. The intent is for insurance premiums to decrease for companies using Cyber Catalyst products/services, though there is no indication of how much premiums will drop by. This is not the first time that cyberinsurers have announced partnerships with vendors in an attempt to sell more products and keep premiums down, but it is the most ambitious.