AIR Worldwide is set to work with leading security firms to build an advanced cyber risk model just as the UK Ministry of Defence’s decides to offer its cyber risk assessment tool to the market.
This experts say will be a cheering news to Risk managers who have been looking for advances in cyber insurance solutions.
Scott Stransky, Manager and Principal Scientist at AIR Worldwide
Catastrophe risk modelling firm AIR Worldwide (AIR) has announced plans to collaborate with leading security risk and cyber data providers BitSight Technologies and Risk Based Security to build an advanced cyber risk model.
The forthcoming AIR Cyber Risk Model will predominantly help the insurance industry get to grips with the evolving cyber risk landscape and presumably embolden them to adapt and develop transfer solutions.
AIR says the model will incorporate the most up-to-date and complete incident data, companies’ real-time security ratings, exposure data and cyber supply chain risks.