BitSight Technologies
BitSight Technologies
Blog Post
  • If you operate in the cybersecurity or business continuity space, you’ve probably heard some reference to cyber resilience. While it has become a bit of an industry buzzword, it’s also a useful construct that should have important implications on your security strategy. Here are our thoughts on how cyber resilience compares to cybersecurity—and why the two terms cannot be used interchangeably.

BitSight Technologies
BitSight Technologies
Blog Post
BitSight Technologies
BitSight Technologies
Blog Post
  • In today’s business landscape, it’s critical to manage the risk that your vendors, or third parties, can pose to your business — and it’s not always the easiest task. It requires that organizations not only have the ability to continuously monitor and identify new risk, but also the ability to work with their vendors to fix security issues quickly. Getting to risk reduction rapidly means that both...

BitSight Technologies
BitSight Technologies
Blog Post
  • You can’t go more than a few weeks (or sometimes a few days) without hearing about yet another company whose data was compromised after hackers gained access through a third-party vendor. These attacks show that it’s no longer enough to secure only your own network from cyber attacks—you have to ensure your vendor networks are secured as well.

BitSight Technologies
BitSight Technologies
Blog Post
  • The holiday season is upon us, with consumers hastily laying travel plans between time spent browsing for gifts for loved ones. During this season, a few also remember that major retail breaches have long-lasting and far-reaching effects with settlements dragging into the years and occasionally costing companies up to billions of dollars.

BitSight Technologies
BitSight Technologies
Blog Post
  • Over 15 years ago, Shaun McConnon, BitSight’s former CEO and current Executive Chairman of the Board, became involved with giving back to the local Boston community. Shaun and his wife, Bonnie, sat on the Board for a Sudbury-based charity benefitting children with cancer, which was affiliated with the first Proton Beam at Massachusetts General Hospital (MGH). 

BitSight Technologies
BitSight Technologies
Blog Post
  • The May 2018 deadline for General Data Protection Regulation (GDPR) compliance is drawing closer—which means your organisation’s compliance activities should be well underway. But if you’re still looking for a place to start, here’s a GDPR checklist template to get you going:

BitSight Technologies
BitSight Technologies
Blog Post
  • In today’s expanding business ecosystem, managing vendor risk is becoming increasingly critical to protecting companies’ sensitive data. With new threats emerging daily and companies continuing to outsource, vendor risk management is an issue that will only grow in affecting organizations and their business partners. According to a recent Navex Global study, the ability to promptly resolve newly i...

BitSight Technologies
BitSight Technologies
Blog Post
  • In today’s business world, the desire to transact in the digital realm is dramatically accelerating and, unfortunately, so is the cyber risk that one takes on as a result. Organizations that handle sensitive data are more likely to become the targets of hackers who are looking to exploit this information stored within their network. Businesses now find themselves exposed to a growing “Cyber Risk G...

BitSight Technologies
BitSight Technologies
Blog Post
  • 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 all relevant underwriting issues when assessing an applicant's or insured’s risk profile.

BitSight Technologies
BitSight Technologies
Blog Post
BitSight Technologies
BitSight Technologies
Blog Post
  • In today’s security climate, talk of proper cybersecurity procedures must include discussion of a continuous monitoring plan that applies both internally and externally (with the company’s third-party vendors). And while continuous monitoring is critical to the health and well-being of your company, it’s also incredibly challenging to do.

BitSight Technologies
BitSight Technologies
Blog Post
  • In a new report on cybersecurity in the banking and financial sector, BitSight researchers examined the security performance of more than 5,200 organizations in the Legal, Technology, and Business Services industries. These organizations—monitored by Finance organizations on the BitSight Security Rating Platform—represent a critical part of the financial services supply chain. Our report shows a n...

BitSight Technologies
BitSight Technologies
Blog Post
  • September marked a month of heated discussion concerning data privacy issues, with continuing coverage in the media regarding breaches at major, global institutions. BitSight looked into the types of breaches experienced by the finance sector over three years of data to determine whether web application compromise is on the rise as well as the impact of these events.

BitSight Technologies
BitSight Technologies
Blog Post
  • The goal of the General Data Protection Regulation (GDPR), which goes into effect in May 2018, is to protect the fundamental rights and freedoms of individuals in the EU as it pertains to their personal data. As you might imagine, it is a broad and complex piece of legislation, with far-reaching implications for businesses inside and outside the EU.

BitSight Technologies
BitSight Technologies
Blog Post
  • This August, BitSight announced the release of several new risk vectors specifically chosen to help organizations identify and manage risks across their own networks and the networks of their third parties. BitSight chose those new risk vectors to enhance the insights across the “spectrum of risk” and provide a more comprehensive picture of an organization’s security posture.

BitSight Technologies
BitSight Technologies
Blog Post
  • October is Cybersecurity Awareness Month, which offers organizations the opportunity to thoroughly examine their security and risk programs and identify where any vulnerabilities might exist. Here at BitSight, we talk about risk management every day. However, we have to practice what we preach — our IT Team offered some insight into areas where organizations can improve their network health not ju...

BitSight Technologies
BitSight Technologies
Blog Post
  • 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 better understanding about the insured’s security posture to see whether the risk has changed and is still suitable to keep on the books.

BitSight Technologies
BitSight Technologies
Blog Post
  • An increasing number of security and risk management executives are being asked to present to the Board of Directors on the state of their — and their third parties’ — security and risk programs. A recent joint survey by Veracode and NYSE found that nearly 80% of directors said that cybersecurity topics are discussed at nearly every board meeting.

BitSight Technologies
BitSight Technologies
Blog Post
  • Between the massive WannaCry and NotPetya attacks of 2017, which reached businesses across the globe, ransomware is on the minds of many security professionals. Interest continues to increase as ransomware evolves into one of the most common forms of malware in existence.

BitSight Technologies
BitSight Technologies
Blog Post
  • Reducing cyber risk that stems from third and fourth party vendors is no easy task. It requires that organizations not only have the ability to continuously monitor and identify new risk, but also the ability to work with their vendors to fix security issues quickly. Getting to risk reduction quickly means that both organizations are communicating effectively, using data and evidence rather than c...

BitSight Technologies
BitSight Technologies
Blog Post
  • When it comes to vendor risk management, organizations ultimately need their vendors to meet the same standard of security performance they hold for their own organization. For years, the Finance industry has been a trailblazer in managing the risk posed by vendors, suppliers, and business partners. However, are vendors in the Finance supply chain meeting the same level of security performance hel...

BitSight Technologies
BitSight Technologies
Blog Post
  • The goal of cybersecurity is to help mitigate or prevent a cyber attack that could cause significant harm to your business, your operations, your financial performance, or your customers. But organizations with mature cybersecurity programs are increasingly aware of the fact that they cannot address every cyber threat since bad actors will continually find ways to hack and mine data. Instead, they...

BitSight Technologies
BitSight Technologies
Blog Post
  • 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 an injury they experienced on a job.

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