Insurers Cyber Risk Analyzed by Fitch Ratings

In the latest Fitch Ratings report, it was found that there is a positive correlation between an insurance agency’s credit ratings, and the SecurityScorecard’s cybersecurity grades. The report uses SecurityScorecard (SSC) grading platform to analyze the cybersecurity risk of over 400 global insurance companies. This represents about two-thirds of global insurance premiums. SSC’s cybersecurity grades provide additional insights not captured by traditional financial statement and credit analysis. The final report implies that insurance companies that focus on managing their own credit risk tightly also appear better at managing their cyber risks. Read more about the Fitch Ratings report here.