Security News > 2024 > March > Why cyber maturity assessment should become standard practice

Understanding risk is one thing, but how do you know if your organization has what it takes to withstand those risks being realized? Establishing cyber maturity can help determine resilience, where the strengths and weaknesses lie, and what needs to happen to improve those security processes.

In the face of escalating risks leading to more claims, cyber insurance providers are now pushing for cyber maturity assessments to determine their risk exposure when quoting for policies, for example.

As measuring maturity is a proactive risk-based process that seeks to bring about continuous improvement it can also reduce the likelihood and cost of an impact: Kroll's State of Cyber Defense 2023 report found that those with a high level of cyber maturity experience less security incidents.

To be of value, a cyber maturity assessment needs to be thorough and systematic so it can be repeated, and the results compared over time to demonstrate and measure progress made.

From CYESec's Cybersecurity Maturity Report 2023, it's clear that the most heavily regulated industries, such as finance, retail, and industry, are the most advanced in terms of maturity.

As a process that is relevant to businesses of all shapes and sizes, whether conducted in-house or via a third party, there's no reason why cyber maturity assessment can't become standard practice and, in so doing, help hone reporting, budgets, and resource allocation as well as advancing best practice.

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https://www.helpnetsecurity.com/2024/03/05/cyber-maturity-assessment/