In today's digital age, cyber threats are more prevalent than ever, and protecting your business is no longer optional—it's essential. We're here to help you navigate the complexities of cyber insurance.
Underwriters typically look for the following must-have cybersecurity controls to assess an organization's insurability:
Multi-Factor Authentication (MFA): Mandatory for all remote access, email, VPN, access to backups, and privileged user accounts. Data Backups: Segmented from the primary network, with redundancy, offline storage, and tested restoration protocols. Incident Response Plan: A written and tested plan with defined roles and responsibilities, including coordination with law enforcement and legal counsel. Employee Cybersecurity Awareness Training: Regular training (at least annually) that includes phishing simulations. Endpoint Detection and Response (EDR): Modern EDR or XDR solutions deployed on all endpoints and servers. Wire Transfer Protocols: Dual authentication procedures to prevent losses from social engineering and wire fraud attempts. Some controls to earn more favorable results include Advanced measures such as email security tools, timely patch management, network segmentation, segregation of end-of-life software, centralized Security Information and Event Management (SIEM), vendor risk management, and annual audits of insurance application accuracy.
