Insurance is already a difficult facet of IT to understand and navigate. But as cyber attacks increase along with the cost from those attacks, cyber insurance companies are cracking down on their requirements. If you're not including these 5 elements into your security strategy, you may be at risk of not receiving your insurance payouts.
IT-related disaster is almost inevitable. Especially if your cybersecurity plan functions primarily as reactive instead of proactive. But insurance companies are cracking own - if you don't have a solid Incident Response Plan (IRP) in place, not only are you putting yourself in some serious risk of losing lots of money, trust, and customers, but your cyber insurance policy will likely not cover you. Additionally, they're requiring a specific Ransomware playbook outlined for what you'll do in the event of a ransomware attack.
Not sure how to prep? Check out the following blog or chat with us for help.
It's simple, knowing your weaknesses increases your strengths. Insurance companies agree: without a dedicated team checking for vulnerabilities in your IT, they won't cover you. The main issue is that instead of a proactive plan where you're aware of how you could be attacked, you're waiting for hackers to get into your systems to deal with - trusting that insurance will just cover you. In 2025, you'll be penalized for this approach.
Want to be more proactive about meeting requirements? We outline some ways to do so below.
Did you know more than 85% of breaches happen because of an employee error? Not only is this due to phishing attacks (that get more and more sophisticated due to AI!) but because of overly-trusting or unaware C-levels falling prey to Business Email Compromise (BEC) attacks. The more your employees know, the more protected you'll be.
Ready for better resources for your team? We can help. Learn more about how hacker are targeting C-levels below.
You've heard us say this before - if you're not implementing MFA, you're already behind. And Cyber Insurance companies agree. One of the easiest ways to keep your information protected (and your money and your customers and your data etc.) is through a simple MFA token. Easier said than done it seems, but insurance companies are requiring proof of MFA implementation in order to issue payouts after disaster.
Still not sold on the importance of MFA? Let us try one more time to convince you.
EDR has the ability to hunt for as-yet-unknown threats - those that get past the perimeter - by detecting and analyzing suspicious behaviors. and there are a lot of suspicious behaviors these days. Especially when AI has the power to build attacks for hackers with minimal work on their end. At the end of the day this is a big proactive step that insurance companies are looking for.
Need help understand proactive EDR? Let us know or learn more below.
Cyber insurance is finnicky and always changing. But we want to help you. Our certified experts do the hard work, keeping up with Cyber Insurance requirements so not only do you stay compliant, but you can focus on your business without having to worry about attacks or anything IT. We got your back every time.
Ready to go? Contact us today and we'll protect your for the long run.