Insurance broker Marsh has introduced a new programme to help insurance firms assess their cybersecurity offerings and address major cyber risks.

Known as Cyber Catalyst, the new programme will enable cyber insurers to identify and access solutions they consider effective in minimising cyber risk.

Allianz, AXIS, AXA XL, Beazley, CFC Underwriting, Munich Re, Sompo International, and Zurich North America are among the initial group of insurers who are participating in the Cyber Catalyst programme.

With the new programme, the participating insurers will be able to assess their cybersecurity offerings that address major cyber risks, including data breach, business interruption, data theft or corruption, and cyber extortion.

Tech major Microsoft will serve as a technical advisor and provide counsel on the products and services.

Marsh US Cyber Practice Leader Thomas Reagan said: “Organisations want the best possible protection against fast-evolving cyber threats, but many struggle to navigate the crowded cybersecurity marketplace.

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“With Cyber Catalyst by Marsh, our clients and other organizations can have greater confidence that they are implementing cybersecurity tools that can have a meaningful impact on reducing the cyber risks they face.”

Marsh, a wholly-owned subsidiary of Marsh & McLennan Companies, offers insurance broking and innovative risk management services to its clients.