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.
Insights blog.
Critical Vulnerabilities Discovered in Automated Tank Gauge Systems
Bitsight TRACE explores several critical vulnerabilities discovered in ATG systems and their inherent risk when exposed to the Internet.
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 cyber insurance claims than ever. But are they taking the proactive steps necessary to boost their security postures and become a better underwriting risk?
These 14 cybersecurity analytics can help you make better cyber insurance decisions for underwriters, insurance buyers, and security professionals.
If you’re involved in the cyber insurance underwriting process—from the transaction to the ongoing operations—you’re constantly looking for things to help you (and your team) select better risks. Here are three specific ways Bitsight’s Security Ratings platform can play an integral role in the underwriting process.
It’s not hard to justify why you need property insurance when you’re surrounded by your physical goods that you don’t want to be lost or damaged in your home or business. So why isn’t cybersecurity the same?
Cyber insurers regularly get requests for new business and increased limits. Insurers need to measure an applicant's cyber hygiene with cyber metrics that are categorically proven to stand out.
How do cyber insurers determine which organizations are going to be a risk worth taking? It’s more important than ever to continue underwriting good and opportunistic risks, while not overcorrecting for the high loss ratios the industry is seeing. Insureds need to answer two questions: what is good cyber hygiene and how do you measure it?
Considering aggregate portfolio risk is critical for insurance companies—which means it’s important to differentiate between concentration risk and aggregation risk.
People’s perception of your cyber risk will outweigh its actual performance. And when trust in cybersecurity takes a nosedive, it can make a big dent in your financials. Learn how to prove protection and build trust with three key stakeholder groups.
While many organizations look at cyber insurance as a way to transfer risk and mitigate financial losses, the assessment process used by cyber insurers can help shape your security program for the better.
Although Bitsight cannot influence the risk appetite of an insurance company, we can help you understand your cyber hygiene while proving to insurers that you are actively invested in your security posture, which influences the coverage decision.
What is cyber insurance underwriting, how has it evolved, and what you can expect when you apply for cyber insurance.
The SolarWinds breach is already one of the most significant cybersecurity incidents ever. And as with any unprecedented cyber event, this will have long-term effects on the way businesses and government consider their security programs. While many questions remain unanswered, the SolarWinds impact on the insurance sector has become clearer after an analysis we’ve completed with one of our partners. So, what should we expect the financial impact of SolarWinds on cyber insurers? And how can cyber insurers quantify a breach of this scale in the future?
The SolarWinds breach is already one of the most significant cybersecurity incidents ever. And as with any unprecedented cyber event, this will have long-term effects on the way businesses and government consider their security programs. While many questions remain unanswered, the SolarWinds impact on the insurance sector has become clearer after an analysis we’ve completed with one of our partners. So, what should we expect the financial impact of SolarWinds on cyber insurers? And how can cyber insurers quantify a breach of this scale in the future?
This post was originally published July 18, 2016 and has been updated for accuracy and comprehensiveness.
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 security executives from all over to discuss the challenges they face in their roles every day.