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Tag: Cybersecurity Rating

BitSight and Marsh McLennan Joined forces to Strengthen Organizations’ Cybersecurity Performance

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BitSight, the security ratings company and Marsh McLennan, the world’s leading professional services company in the categories of risk, strategy, and people, signed a collaboration to help businesses better understand, evaluate, and manage their cyber risks.

The recently launched Marsh McLennan Cyber Risk Analytics Center will use BitSight Security Ratings, data, and analytics to help customers better understand their cybersecurity performance by making more educated risk management decisions. Clients who have access to BitSight may obtain this information quickly, detect potential risks, and implement mitigation techniques. The two companies will also work on joint research and analysis, combining their widely renowned perspectives.

The importance of cybersecurity performance management cannot be overestimated, given the worrying rise in cybersecurity incidents. BitSight Security Ratings are the most extensively used and recognized cyber risk ratings in the market and the only solution that has been independently validated to correlate with data breach risk.

“2021 is shaping up to be one of the most challenging years for cyber risk on record, and we continue to hear from clients that cybersecurity is among their most urgent risk concerns. By collaborating with BitSight, we are providing clients with more data-driven insights to better manage risk in an increasingly difficult cybersecurity landscape,” said Scott Stransky, Head of the Marsh McLennan Cyber Risk Analytics Center.

“Cyber insurance brokers now play a critical role in helping their clients actively manage cyber risk. This marks an exciting opportunity to share our cyber risk data and expertise to help Marsh McLennan counsel their clients on reducing risk of cyber exposure. This collaboration builds on BitSight’s previous work to bring universal understanding to cyber risk, and further validates BitSight’s position as the trusted industry standard in cybersecurity ratings and analytics,” said Stephanie Snyder Frenier, vice president and general manager, insurance at BitSight.

Cohere Cyber Secure and SecurityScorecard formed Partnership to Enhance Cybersecurity of Financial Sector

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Cohere Cyber Secure announced a partnership to provide cyber ratings for clients and cooperatively push market penetration with a single integrated solution of SecurityScorecard, the worldwide market leader in cyber security ratings. These include the most recognised financial firms worldwide, including different groups of registered investment advisors, private equity, portfolio managers, hedge funds, and LBO funds. As part of this partnership, Cohere will include the monitoring capabilities of SecurityScorecard in our security operations using SIEM technology from Cohere to constantly monitor and mitigate possible cyber threats, both on- and in the cloud.

“Financial organizations are the biggest target for cyber criminals, and security teams need a comprehensive and compliant cybersecurity strategy that provides in-depth intelligence,” says Aleksandr Yampolskiy, CEO at SecurityScorecard. “This partnership provides real actionable insights into the real-time threats facing financial organizations, and ensures that they will maintain the strongest possible security posture and conform to industry compliance standards.”

The combined Cohere solution offers a 360-degree vision and addresses essential safety issues including risk and vulnerability assessment, risk detection, real-time monitoring, response to incidents and regulatory reporting. Partnership clients can check their SecurityScorecard rating and extend that support to their portfolio and selling companies. This complete solution provides on-going monitoring to ensure that organisations are able to maintain the most safe financial services for their customers. Customers can also generate complete monthly or on-demand cyber-based health reports for governance committees and regulators as a tightly interconnected solution.

“Security organizations are often hamstrung by only looking within their cyber borders with an inside-out view into their vulnerabilities, and often have to break up monitoring tools with multiple outside vendors,” says Steven Francesco, Chairman and CEO at Cohere Cyber Secure. “Investors, customers, regulators, CISO’s and compliance officers can rest easier knowing our solution keeps your company safe and secure.

Moody’s partner BitSight with an investment of $250 million to create integrated cybersecurity risk platform

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Moody’s Corporation and BitSight announced a significant investment by Moody’s, further enhancing BitSight’s offerings and capabilities, to create a comprehensive, integrated, industry-leading cybersecurity risk platform. Moody’s will invest $250 million in BitSight. This transaction reflects the increasing strategic, financial, and operational impact of cyber risk to organizations and markets.

BitSight, a leader in cybersecurity ratings, and BitSight will acquire VisibleRisk, a cyber risk ratings joint venture founded by Moody’s and Team8, a worldwide venture organization, as part of the announced transaction.

BitSight helps global market participants understand cyber risk through ratings, analytics, and performance management tools, delivering unique insights for over 2,300 global customers, including many Fortune 500 companies, government agencies, insurers, and asset managers. Moody’s will leverage BitSight’s extensive cyber risk data and research across its growing suite of integrated risk assessment product offerings. BitSight’s acquisition of VisibleRisk adds a unique in-depth cyber risk assessment capability and advances its ability to analyze and calculate an organization’s financial exposure to cyber risk. BitSight is valued at $2.4 billion in this deal, indicating the company’s leadership in a growing data and analytics sector.

“As organizations invest in cyber defense and resilience, another critical need has emerged: the ability to accurately measure and quantify cyber risk and exposure. Creating transparency and enabling trust is at the core of Moody’s mission – to help organizations assess complex, interconnected risks and make more informed decisions. BitSight is the leader in the cybersecurity ratings space, and together we will help market participants across disciplines better understand, measure, and manage their cyber risks and translate that to the risk of financial loss,” said Rob Fauber, President and Chief Executive Officer of Moody’s.

“Cybersecurity is one of the biggest threats to global commerce in the 21st century. Our partnership with Moody’s and acquisition of VisibleRisk expands our reach to help customers manage cyber risk in an increasingly digital world,” said Steve Harvey, President and Chief Executive Officer of BitSight.

CyberRatings Introduces First-of-its-Kind Cloud Test on Firewall as a Service and Zero Trust Network Access

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CyberRatings.org, a non-profit firm dedicated to making cybersecurity product efficacy transparent, has released its first Secure Access Service Edge (SASE) rating. Zscaler’s Firewall as a Service (FWaaS), including its Zero Trust Network Access (ZTNA) capabilities, were tested independently by CyberRatings utilising Zscaler Internet Access and Zscaler Private Access. Overall, Zscaler received a ‘AA’ rating, with individual test components receiving ‘AA’ to ‘AAA’ ratings.

SASE technology is a relatively new addition to the market. It’s a new technology package that’s supplied as a service:

  • Data security (Cloud Access Security Broker and Data Loss Prevention)
  • Access control (FWaaS and ZTNA)
  • Threat protection (Secure Web Gateway, anti-malware, and intrusion prevention)

“The pandemic accelerated adoption of new technologies such as SASE that securely enable a distributed workforce. This first-of-its-kind test provides the cybersecurity industry with a reliable and independent way to evaluate SASE offerings,” said Vikram Phatak, CEO of CyberRatings.org. 

Because these technologies are so new, CyberRatings spent several months developing the apparatus to test FWaaS and ZTNA alongside Keysight’s network and cloud product teams. Keysight offered CyPerf to test application stability, performance, reliability and TLS / SSL functionality.

“The distributed nature of hybrid/cloud networks calls for a new way of testing. Keysight developed its industry-first cloud-native CyPerf test solution to help users validate services like SASE, software-defined wide area network (SD-WAN), and cloud network firewall. We are excited to partner with CyberRatings in this first independent test of SASE technology,” said Ram Periakaruppan vice president and general manager, Keysight’s Network Test and Security Solutions.

CyberRatings has a three-phase approach for assessing SASE solutions, with the first phase focusing on FWaaS and ZTNA. The discovery and handling of exploits, malware, and evasions will be tested in phase two. The cloud access security broker (CASB) and data leak protection will be addressed in the third phase (DLP).

InfoSecurity Outlook Magazine focuses on keeping track of Information Security, Data Security, Cloud Security, IoT Security and Fraud Management related technology to help entrepreneurs protect their organizational data from threats and misuse.

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