Assessment to help clients minimize industrial equipment failure due to computer malfunction, operator error or malicious cyber activity
Johnston, RI (Jan. 21, 2020) – As part of its continuing commitment to cyber risk assessment, prevention and control, FM Global, one of the world’s largest commercial property insurers, has become one of the first insurance carriers to offer industrial control systems (ICS) evaluations at client locations as part of its routine engineering site visits. The ICS evaluation will be incorporated into the company’s Cyber Risk Assessment—a comprehensive review of a client’s cyber exposures, at both the location and enterprise levels.
“Many legacy industrial control systems operating today were put in place for safety and efficiency, not for cyber security,” said Jeff Tilley, FM Global vice president, manager of cyber hazards. “Our goal is to help clients minimize industrial equipment failure due to computer malfunction, operator error or malicious cyber activity that could lead to equipment failure or lost production.”
FM Global’s enhanced location-based ICS review will be conducted by boiler and machinery (B&M) loss prevention engineers who understand the physical and business impact of critical equipment controlled by ICS. These ICS-trained B&M engineers are supported by a team of cyber consultants who hold the Global Industrial Cyber Security Professional (GICSP) certification, the cyber security industry’s standard for security of industrial control systems. FM Global’s ICS evaluations will range from critical infrastructure and manufacturing processes to critical building automation systems.
Each year, FM Global loss prevention engineers conduct more than 100,000 risk visits at client locations around the world to help them better understand their property risk exposures and provide solutions to protect their facilities. A recent FM Global survey of 200 business leaders at Fortune 1000-size organizations found 84% of them categorize a cyber attack on industrial control systems as a “major concern” for their business.
About FM Global
Established nearly 200 years ago, FM Global is a mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its client-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.
Source: FM GlobalTags: cyber risk, cyber security, FM Global