The Cyber Monitoring Centre (CMC), a new UK independent non-profit initiative by the insurance industry, has officially launched after a year of operating in stealth mode. The CMC aims to bring greater clarity and precision to measuring cyber incidents, mirroring the methodologies used for physical events like earthquakes and hurricanes. The centre will monitor various cyber events, including large-scale outages, data breaches, targeted attacks, and supply chain compromises, classifying their intensity and impact on UK organisations. This information, including the classifications, will be publicly available for free. The CMC's CEO, Will Mayes, believes the centre will improve our understanding of cyber event implications, mitigate their impact, and enhance cyber resilience.
In its legal analysis, Pinsent Masons indicates that insurers will likely be better able to price cyber insurance policies following the CMC launch.
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