BITSIGHT SECURITY RATINGS BLOG

Read about the latest cybersecurity news and get advice on third-party vendor risk management, reporting cybersecurity to the Board, managing cyber risks, benchmarking security performance, and more.

A Security Score vs. A Security Rating: What’s The Difference?

This post was originally published July 18, 2016 and has been updated for accuracy and comprehensiveness.

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As Cyber Insurance Claims Soar, Businesses Need to Demonstrate a Standard of Care

Hardly a day goes by without the emergence of a disturbing new trend in cyber crime or headline-grabbing hack. Hackers are getting smarter and threat vectors are constantly evolving. The escalating threat is forcing businesses to file more

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BitSight EXCHANGE Sound Bites: Transferring Risk Through Cyber Insurance

In the months since BitSight’s inaugural EXCHANGE forum inaugural EXCHANGE forum, we have been digesting and processing the incredible sessions and discussions that came about from this forum. It was a great event that brought together...

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Silent Cyber: What It Is & How You Can Avoid It

Companies typically buy several lines of insurance—from property, to general liability, to professional liability. When something goes wrong, it’s common for a company to run to its insurance provider and claim that it has coverage. But...

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The Cost Of Cyber Risk: How Security Ratings Help With Policy Pricing

Policy pricing is something every insurance company and underwriter struggles with at some point. The primary issue is differentiating between the risk an applicant presents and the information you’re given. Let’s take a closer look at how...

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To Quote Or Decline? Using Security Ratings To Validate Cyber Underwriting Decisions

Determining whether you should quote or decline a cyber insurance applicant is an extensive and critical process. Typically, the decision is made after gaining an understanding of what the company does, identifying critical application...

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How Mature Is Your Cyber Risk Underwriting Strategy?

If I were to ask you whether your cyber risk underwriting strategy is mature, your first question would likely be: “How do you define mature?” It’s a great question! Here’s the answer: A mature cyber risk underwriting strategy considers...

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How Security Ratings Can Make Renewals More Effective

Most insurers find that the cyber insurance renewal process is fairly efficient from a time perspective—but it’s not very effective. In other words, they are able to quickly re-underwrite a company in their portfolio, but don’t have any...

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Should You Underwrite A Company That’s Been Breached Before?

In many lines of insurance, claim activity is part of the norm—and it’s expected that you’ll have to underwrite to losses consistently. For example, in casualty lines, it’s common to have workers file for worker’s compensation because of...

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