CMC Teams Up With Parametrix Analytics on Cyber Risks

Partnerships are always good news and fighting cyber risks often requires shared expertise. Here’s the word;

The Cyber Monitoring Centre (CMC) announces a new partnership with leading provider of cloud risk analytics services, Parametrix Analytics.

An initial project is underway to understand the reliance of UK organisations on cloud infrastructure. The project analyses UK companies of all sizes and industries, to understand their cloud dependence and determine the economic impact of a cloud outage of the commonly used cloud service providers. Initial findings show around 90% of the FTSE 100 companies are cloud dependent, with most relying on key data centres in the UK, Ireland and the rest of Europe.

Parametrix will also monitor cloud services used by UK companies and provide loss estimates and impact analysis to the CMC following any cloud outage events.

“The UK government’s recent announcement that data centres are to be classified as critical national infrastructure demonstrates the huge role these centres play in business operations across the country. Parametrix’s expertise will help the CMC understand the economic impact of cloud outage events. The partnership highlights the CMC’s commitment to working with leading data providers to understand and accurately categorise cyber events,” said Will Mayes, CEO of the CMC.

“We are proud to partner with the CMC and support their important work. The CMC’s independence and its technical approach to understanding cyber events are of critical importance if we are to help UK businesses and wider society cope with the ever-growing systemic cyber threat. This includes events like the CrowdStrike incident, which provided only a hint of what could happen with a widespread service outage across multiple regions,” said Sharon Haron, Chief Commercial Officer at Parametrix. “By collaborating with the CMC, we can help to ensure that businesses and the cyber insurance industry as a whole understands their cloud exposure, and are able to develop a plan of action which builds operational resilience.”