cybersecurity rating
Security ratings are an objective, data-driven, quantifiable measurement of an organization's overall cybersecurity performance. Security ratings provide businesses and government agencies with a third-party, independent view into the security behaviors and practices of their own organization as well as that of their business partners. Security ratings are a useful tool in evaluating cyber risk and facilitating collaborative, risk-based conversations.{{Cite web|url=https://www.uschamber.com/issue-brief/principles-fair-and-accurate-security-ratings|title=Principles for Fair and Accurate Security Ratings|date=2017-06-19|website=U.S. Chamber of Commerce|language=en|access-date=2020-02-12}}
According to Gartner, cybersecurity ratings will become as important as credit ratings when assessing the risk of existing and new business relationships. Gartner predicts that these services will be a prerequisite for business relationships{{Cite web|url=https://www.gartner.com/en/documents/3884271/innovation-insight-for-security-rating-services|title=Innovation Insight for Security Rating Services|website=Gartner|language=en|access-date=2020-02-12}}
Security Rating Services
The adoption of security rating services platforms is on the rise. In fact, Forrester Consulting found that 87% of respondents find security ratings valuable (37%) or extremely valuable (50%).{{Cite web|url=https://www.helpnetsecurity.com/2018/04/27/security-ratings-platforms/|title=Adoption of security ratings platforms is on the rise|date=2018-04-27|website=Help Net Security|language=en-US|access-date=2020-02-12}} There are a number of companies that provide security ratings services.
Security Rating Services in 2020
The COVID-19 pandemic has created a completely different environment for cyber-risk. According to S&P Global Ratings, rating services may become an exception to these changes in the world of cyber-risk.{{Cite web |title=Gartner Report: The Urgency to Treat Cybersecurity as a Business Decision |url=https://info.bitsight.com/the-urgency-to-treat-cybersecurity-as-a-business-decision-ppc |access-date=2021-02-28 |website=BitSight |language=en}} Given the COVID-19 pandemic that occurred in 2020, many brick and mortar shops that have mainly been exclusively accessible through in-person contact, have been forced to provide their goods and services through a website. This shift causes a larger need for these services given the increase in possible clients that want to know the safety of their business domain.