5 Key Elements to Analyzing Third-Party Vendor Risk

5 Key Elements to Analyzing Third-Party Vendor Risk

The hidden security risk inside the IT infrastructures of unassessed third parties, suppliers and vendors poses a serious challenge for many companies. In this post, we look at the top elements of third party-risk, explore their value, and understand how they can be used as part of your vendor lifecycle management program as a means to mitigate risk across your overall vendor landscape.

Sharing Data With Third-Parties One Of Healthcare’s Greatest Vulnerabilities

A recent KPMG report shows that nearly half of healthcare organizations surveyed rely on trust when it comes to sharing data with their third-party healthcare business partners. More specifically, only 35% claim to have a solution in place to properly manage third-party vendor security risks.

Third Party Vendor Risk Expert Harry Wan Comments On Ponemon Intstitute Cost Of Cybercrime Report

"Once again, the higher average cost for organizations with fewer seats reinforces that smaller companies are less prepared for an attack,” said Harry Wan, in response to the Ponemon Cyber Crime Report.

Clueless Clause: Insurer Cites Lax Security in Challenge to Cottage Health Claim

Cottage Health filed a claim of more than $4 million....but it was denied by the insurer, Columbia Casualty. Columbia Casualty denied the claim alleging that Cottage's third party vendor, INSYNC Computer Solutions, Inc., failed to follow "minimum required practices."