Security Ratings Explained

The Problem of Digitization The digitization of business has increased the speed of commerce, the scope of customers, the understanding of consumer habits, and the efficiency of operations across the board. It has also increased the risk surface of business, creating new dangers and obstacles for the business itself, not just its technology. This risk is compounded by the interrelations of digital businesses as data handling and technological infrastructure is outsourced, as each third party becomes a vector for breach or exposure for the primary company. The technical nature of this risk makes it inaccessible to those without advanced skills and knowledge, leaving organizations without visibility into an extremely valuable and critical part of the business.

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What are Security Ratings?

Security ratings are like credit ratings, but for the assessment of a company’s web-facing applications. Where a credit rating lets a company determine the risk of lending to a prospective debtor, a security rating lets it decide how risky it will be to deal with another in handling data. The comparison even flattens out when we remember one of the key principles ofcyber resilience: that cyber risk “is actually business risk, and always has been.”

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UpGuard CyberRisk and Fair and Accurate Security Ratings Principles

In June of 2017 the U.S. Chamber of Commerce posted the “Principles for Fair and Accurate Security Ratings,” a document supported by a number of organizations interested in the emerging market for measuring cyber risk. The principles provide a starting point for understanding the current state of security ratings and for establishing a shared baseline for assessing vendors in that market.

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What is Cyber Resilience?

Cyber resilience is a fundamental change in understanding and accepting the true relationship between technology and risk. IT risk (or cyber risk, if you prefer) is actually business risk, and always has been. And the cybersecurity industry, for what it's worth, has generally avoided this concept because it goes against the narrative that their respective offerings—whether it's a firewall, IDS, monitoring tool, or otherwise—would be the one-size-fits-all silver bullet that can keep businesses safe. But reality tells a different story.

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