Recently we have seen two insurers include benchmarking of prospective insureds in their Cyber proposals. Different aspects of cyber security are compared to industry averages with a final aggregate score.
This should be a welcome development to everyone. It shows insurers are getting serious about cyber security. It gives brokers feedback on their clients' level of preparedness, and an explanation for a high quote or denial. Organizations can see whether they measure up to security standards or need to improve.
When you get your next Cyber renewal, be sure to ask your broker if the insurer benchmarked your status or provided a cyber security assessment .