London Market Broker BMS Partners with BitSight to Provide Cyber Risk Analysis

BMS Group, the London-based independent specialist re/insurance broker, has partnered with BitSight, a cyber security ratings company, to provide cyber risk analysis services to BMS clients across all lines of business.

More than 1,500 organizations are using BitSight Security Ratings to continuously monitor cyber risk in their business ecosystem, said the company description on BitSight’s website.

“As an independent, employee-owned broker, our focus has always been to add value to our insureds by developing a tailored and comprehensive offering,” said Ryan Jones, head of Innovation at BMS.

He emphasized that cyber risk, particularly the silent cyber exposures, affects all businesses and is a growing threat.

“Through this service [with BitSight], our clients will now be able to, regardless of what they are insuring, accurately assess the cyber exposure of their assets and choose insurance providers accordingly,” Jones said.

This is the first partnership for Boston-based BitSight with a London market broker.

“Working with carriers around the world, including several in London for a number of years now, we believe providing transparency into security posture along all parts of the insurance value chain – carrier, broker, and client – is critical to accurate risk transfer decision-making,”said Samit Shah, BitSight’s manager of insurance strategy and operations.

Source: BMS, BitSight