FM Global Earns Patent for Its Cyber Security Risk Assessment

Commercial property insurer, FM Global, is creating a comprehensive cyber readiness assessment for clients’ businesses, and has just secured a patent for the innovation.

The online, interactive assessment will be launched later this month. Clients’ answers will reveal detailed information about their cyber security risk posture, including the maturity of their governance, IT security, insider threat management, and response-and-recovery capabilities. “There’s nothing else like it. Anywhere. This is not just another compliance assessment. This is 70 straightforward, fact-based questions uniquely designed to gather threat intelligence and insights at both the location and the enterprise level”.

The cyber risk assessment is one of several key initiatives driven by FM Global’s dedicated cyber hazards team, which has recruited experienced cyber security executives from defense and business. As with natural hazards and fire, a cyber attack can harm a business’s revenue, reputation, market share and ultimate viability. Disruptions, however, are generally preventable, and clients can improve their resilience by working with their insurer.

Bottom Line: Chubb’s Cyber Index comes to mind.