Marsh launches Cyber Incident Management service to assist UK and European clients in responding to cyber events

29 June 2022 — Daniela GHETU
Marsh, the leading insurance broker and risk advisor, announced the launch of its Cyber Incident Management (CIM) service to support clients headquartered in the UK and Continental Europe to prepare for, respond to, and recover from cyber incidents, as well as increase their cyber resilience.

First launched in the US in 2021, Marsh's CIM service is the first of its kind that brings together the key elements that are required to navigate cyber incidents successfully, focusing on pre-incident preparation, holistic guidance and best practice advice during an incident, and a seamless integration of Marsh's cyber insurance claims expertise.

As well as dedicated in-house resources, Marsh has created a vendor network of leading independent specialists - including IT forensic, legal counsel, cyber extortion specialists, data recovery, and crisis communications - that have proven track records in dealing with critical cyber incidents and are available to support clients based on their unique requirements, should an incident occur.

According to a report published last month by Marsh and Microsoft, The State of Cyber Resilience, mounting and increasingly complex cyber threats are tempering executive confidence in their organizations' core cyber risk management capabilities, with just 9% of executive leaders stating they were highly confident in their organization's ability to manage and respond to cyber-attacks.

"Given that ransomware events surged by 148% in 2021, it is not surprising that many executives feel overwhelmed and lack confidence in their organization's cyber resilience," said Helen Nuttall, Head of Cyber Incident Management, UK, Marsh. "Through CIM's strong focus on cyber incident preparation, clients will be able to deal with a crisis in an efficient and effective way and thereby mitigate its impact and expedite recovery."

Florian Saettler, Head of Cyber Incident Management, Continental Europe, Marsh, added: "Successful cyber resilience requires a fully integrated approach to managing cyber events, reflecting the unique risk profile of an organization. Marsh's CIM service brings together the multiple workstreams that are required to respond to cyber events, and limit the financial and reputational impact should an incident occur."

Today's announcement follows April's launch of a new cybersecurity marketplace service for Marsh's US clients, to simplify the procurement process and assist in identifying cybersecurity solutions, tools, and services that align to their needs and drive greater cyber resilience.