TEL AVIV, Israel–(BUSINESS WIRE)–Kovrr, a provider of cyber risk modeling and quantification for global enterprises and (re)insurers, today announced the launch of the CRIMZON™ (Cyber Risk Impact Zones) framework for comparing and managing accumulations of systemic cyber risk. Formerly named CRA-Zones, the CRIMZON framework expands (re)insurance applications beyond identifying risk accumulation to include cyber threat assessment and trend analysis, deeper risk management and monitoring, as well as event response.
The CRIMZON framework divides global regions into ‘Impact Zones’ comprising three elements: location, the size of the entity, and the industry type. The framework is based on research that demonstrated companies from the same location and industry often rely on the same technologies and third-party service providers leaving them exposed to similar cyber attacks or failures.
“When we first developed this framework, the goal was to help (re)insurers measure catastrophic cyber risk exposure on their portfolio, but we realized that it could do so much more to help companies address the potential financial impact of cyber on the business, identify…
