Public companies can leverage the Cybersecurity Risk Evaluation Solution from Glass Lewis and BitSight to better understand key areas of vulnerability, benchmark against their peers, and receive personalized guidance from a cybersecurity expert.
SAN FRANCISCO (September 21, 2022) – Glass Lewis and BitSight today announced the launch of the Cybersecurity Risk Evaluation Solution for public companies. The solution provides customized guidance and reports so corporations can understand best practice in cybersecurity assurance and disclosure, benchmark their company’s cybersecurity performance relative to peer organizations, and evaluate the potential financial impact of cyber events on their own organizations.
“Cybersecurity is a critical business risk that directly impacts a company’s ability to achieve operational success,” said John Nelson, senior vice president of global channels and partnerships at BitSight. “As cyber-attacks continue to rise, we are launching the Cybersecurity Risk Evaluation Solution with Glass Lewis to enable public companies to pro-actively understand their own vulnerabilities, implement strategies to safeguard their business, and communicate their plans to internal and external stakeholders.”
Investors are increasingly expecting public company leaders to implement transparency around the oversight and management of cyber risk and assure key stakeholders that they are implementing best-in-class cybersecurity programs in order to mitigate the likelihood of costly and potentially debilitating cyber-attacks. The SEC also recently called for a more unified approach to cybersecurity risk management, strategy, governance, and incident disclosure by public companies.
“We understand mitigating cybersecurity risk is top of mind for corporate executives,” said Lili Mehta, SVP and Global Head of Corporate Business at Glass Lewis. “In response to this pressing need, we have partnered with BitSight, the global leader in cyber risk management, to provide a solution that equips public company leadership with the tools to understand their performance in key areas, benchmark against their peers, and better communicate their cybersecurity positions.”
Public companies who subscribe to the Cybersecurity Risk Evaluation Solution through Glass Lewis will receive customized analysis covering an overview of their performance, peer analytics benchmarking, and financial quantification of their exposure due to cyber risk, all using BitSight’s proprietary technology. In addition, a BitSight cyber risk expert will conduct an intensive workshop to provide clients with an overview of the current regulatory environment including disclosure requirements, best practices as it relates to cyber program disclosure and positioning, and a personalized walk-through of issues such as credit ratings’ impact and cyber insurance approval/denial.
About Glass Lewis:
Glass Lewis is the leading provider of independent global governance solutions. We enable institutional investors and publicly listed companies to make sustainable decisions based in research and data. We cover 30,000+ meetings each year, across approximately 100 global markets. Our customers include the majority of the world’s largest pension plans, mutual funds, and asset managers who collectively manage over $40 trillion in assets. Our core solutions include Proxy Paper proxy research and Viewpoint proxy vote management platform. More information is available at www.glasslewis.com. You can also visit the Glass Lewis Blog or follow us on LinkedIn
BitSight creates trust in the digital economy and transforms how organizations manage cyber risk. The BitSight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help organizations manage their own security performance; mitigate third party risk; underwrite cyber insurance policies; conduct financial diligence; and assess aggregate risk. With the largest ecosystem of users and information, BitSight is the Standard in Security Ratings. For more information, please visit www.bitsight.com, read our blog or follow @BitSight on Twitter.