SecurityScorecard and Great American Insurance Group Team Up to Share Security Ratings with Cyber Risk Insureds

Rhea-AI Summary

SecurityScorecard announced a partnership with Great American Insurance Group to provide security ratings alongside cyber risk policies. This collaboration aims to enhance customer awareness of cybersecurity threats and provide tactical solutions for risk reduction. Great American clients will receive access to their SecurityScorecard Rating, which monitors their cyber defenses and identifies vulnerabilities. With over 1.4 million companies rated, SecurityScorecard is the leader in security ratings, offering insights into organizations' security postures.

Positive

• Partnership enhances value for Great American's cyber risk customers through access to SecurityScorecard ratings.
• Provides clients with tools to identify weaknesses and improve cybersecurity defenses.
• SecurityScorecard's established reputation with over 1.4 million rated companies adds credibility to the offering.

Negative

• None.

NEW YORK, July 21, 2020 /PRNewswire/ -- SecurityScorecard, the global leader in security ratings, announced today that it is teaming up with Great American Insurance Group's Cyber Risk operations to offer its customers SecurityScorecard ratings with the purchase of a cyber risk policy. The ratings help to provide insight on an organization's cyber threats and tactical ways to potentially reduce risk.

"We are thrilled to work alongside SecurityScorecard, which is well known in the cyber risk industry for its commitment to transparency, driving value and helping to reduce risk," said Ryan FitzSimmons, divisional vice president, Great American Cyber Risk. "This collaboration will provide our insureds with access to a complete view of their cybersecurity ecosystem, help to navigate where their vulnerabilities are and offer a recommended path to remediation."

With the promotion, Great American Cyber Risk customers will have access to their SecurityScorecard Rating to monitor their own organization, as well as special pricing to expand visibility to third parties they leverage to run their respective businesses. This critical information enables users to identify and improve potential weaknesses in their cyber defenses.

With over 1.4 million companies rated, SecurityScorecard is the global industry leader in security ratings. SecurityScorecard collects and analyzes global threat signals that allows organizations to have instant visibility into the security posture of vendors and business partners as well as the capability to do a self-assessment of their own security posture. The technology continuously monitors 10 groups of risk factors to instantly deliver an easy-to-understand A-F rating.

"SecurityScorecard is committed to making the world a safer place by ensuring that companies have access to their security rating," said Aleksandr Yampolskiy, CEO and co-founder of SecurityScorecard. "This collaboration enables Great American's Cyber Risk clients to 'see what a hacker sees' and learn where they could be at risk of a cyber incident or breach. For many companies, it's the first time they've had a complete view of their true cyber risk."

About SecurityScorecard
SecurityScorecard is the global leader in cybersecurity ratings and the only service with over a million companies continuously rated. Founded in 2013 by security and risk experts Dr. Aleksandr Yampolskiy and Sam Kassoumeh, SecurityScorecard's patented rating technology is used by over 1,000 organizations for enterprise risk management, third-party risk management, board reporting, due diligence, and cyber insurance underwriting. SecurityScorecard continues to make the world a safer place by transforming the way companies understand, improve and communicate cybersecurity risk to their boards, employees and vendors. Every company has the universal right to their trusted and transparent Instant SecurityScorecard rating. For more information, visit securityscorecard.com or connect with us on LinkedIn.

About Great American Insurance Group

Great American Insurance Group's roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed and indexed annuities in the retail, financial institutions, broker-dealer and registered investment advisor markets. Great American Insurance Company has received an "A" (Excellent) or higher rating from the A.M. Best Company for more than 110 years (most recent rating evaluation of "A+" (Superior) affirmed September 11, 2019). The members of Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG's common stock is listed and traded on the New York Stock Exchange under the symbol AFG. Cyber coverage is underwritten by Great American Insurance Company, Great American Alliance Insurance Company and Great American Spirit Insurance Company, authorized insurers in all 50 states and D.C.

Media Contact:

Fehmida Bholat
SecurityScorecard
310-880-0750
fbholat@securityscorecard.io

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SOURCE SecurityScorecard

FAQ

What is the partnership between SecurityScorecard and Great American Insurance Group about?

SecurityScorecard partners with Great American Insurance Group to offer security ratings with cyber risk policies, helping customers identify and mitigate cybersecurity risks.

How will Great American Insurance Group customers benefit from SecurityScorecard ratings?

Customers will gain insights into their cybersecurity posture, monitor vulnerabilities, and access special pricing for broader security visibility.

What is the significance of SecurityScorecard's ratings?

SecurityScorecard's ratings provide a clear view of an organization's security health, enabling proactive risk management and compliance.

How many companies does SecurityScorecard rate?

SecurityScorecard rates over 1.4 million companies, making it a leader in the security ratings industry.

What does the collaboration between AFG and SecurityScorecard mean for investors?

The collaboration may enhance AFG's insurance offerings and improve client retention through better cybersecurity insights.