Insurers with high credit ratings have enhanced cyber security – report

An Insurance Business Magazine article.

There is a positive correlation between insurance companies’ credit ratings and their cybersecurity, according to a new report from Fitch Ratings.

The report used SecurityScoreCard’s (SSC) grading platform to analyse the cybersecurity risk of more than 400 global insurance companies, representing about two-thirds of global insurance premiums. It found a positive correlation between companies’ Fitch-assigned credit ratings and SSC’s cybersecurity grades. This implies that insurance companies that prioritise carefully managing their own credit risk also seem to be better at managing their cyber risk.

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