14 April 2023Analysis

MMC & SecurityScorecard cooperate on cyber study

The Marsh McLennan Global Cyber Risk Analytics Center and SecurityScorecard have come together to study how cybersecurity ratings correlate with reduced cyber insurance risk.

The companies have produced a report entitled “Reduce Cyber Risk with the predictive power of security ratings.”

As the two point out, cyber insurance is the fastest-growing sector of the world’s insurance markets, and it’s offered to companies of all sizes and in all industries. However, a recent increase in ransomware attacks has led to a sharp uptick in claims.

As a result, the cyber (re)insurance industry is looking for ways to help its customers increase their resilience, reduce their premiums, and improve their overall cyber hygiene. This requires a new methodology to measure risk in real time with greater accuracy. By working with cyber insurers to align on this risk, companies will be better able to get ahead of threats and obtain policies that meet their unique needs.

Marsh McLennan is charged with helping its clients understand and manage cybersecurity risk, which includes risk transfer options using cyber insurance. SecurityScorecard provides cybersecurity ratings and data, which offer measurable and actionable cyber risk insight.

For more information on the report contact either company.