CMC partners with Parametrix to assess cloud outage impacts on UK businesses

The Cyber Monitoring Centre (CMC) has partnered with Parametrix Analytics, a newly established provider of cloud risk analytics services, to examine cloud exposure and the effects of cloud outages on UK organisations.

An initial project is underway to assess how dependent UK organisations are on cloud infrastructure. This project examines companies of all sizes and industries to gauge their reliance on cloud services and evaluate the economic impact of outages from commonly used cloud providers.

Preliminary findings reveal that around 90% of FTSE 100 companies depend on cloud services, with most relying on key data centres located in the UK, Ireland, and Europe.

Parametrix will also track cloud services used by UK companies and provide loss estimates and impact analyses to the CMC after any cloud outage events.

Will Mayes, CEO of the CMC, stated, “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.”

Sharon Haron, Chief Commercial Officer at Parametrix, commented, “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.”

Haron added, “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.”

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