Cyber risk grading service launched

Cyber risk assessment and data breach services company Network Standard Corp., which does business as NetDiligence, will offer SecurityScorecard Inc.'s risk grading service as part of its own cyber risk assessment to enable cyber liability insurers to gauge the security of policyholders and applicants, SecurityScorecard said Monday.

Gladwyne, Pennsylvania-based NetDiligence will offer SecurityScorecard's service as part of its QuietAudit assessment service, which gives client risk managers and their insurers a 360-degree view of their cyber risk exposures, according to the statement.

SecurityScorecard measures all potential risk factors, as well as indicators of trends and emerging risks, allowing insurers to quickly select the lowest risk applicants with less cost and less exposure, New York-based SecurityScorecard said.

SecurityScorecard also allows the stratification of applicants by risk level acceptability or by the amount of risk that can be carried at one time, according to the statement.

“When evaluating the security health of an organization, especially in today's interconnected world, the ability to gain right-now insight into potential malicious threats is critical,” NetDilgence President Mark Greisiger said in the statement. “By partnering with SecurityScorecard, NetDiligence is able to provide that information to insurers as an important addition to our traditional cyber risk assessment services that evaluate people, processes and technology.”