Marsh launches ‘first of its kind’ cyber management service in UK/Europe

Global broker  Marsh has launched a “first of its kind” cyber incident management service in the UK and Europe to help organisations increase their cyber resilience and deal with a crisis in an efficient and effective manner to mitigate its impact and expedite recovery.

Marsh’s Cyber Incident Management (CIM) service will support clients headquartered in the UK and Continental Europe to prepare for, respond to, and recover from cyber incidents. First launched in the US in 2021, the CIM service 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 cyber insurance claims expertise.

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 organisations’ core cyber risk management capabilities, with just 9% of executive leaders stating they were highly confident in their organisation’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 organisation’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 CIM, Continental Europe,  Marsh, added: “Successful cyber resilience requires a fully integrated approach to managing cyber events, reflecting the unique risk profile of an organisation.  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.”

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