What Should You Do To Obtain Cyber Insurance Coverage?

July 6, 2022

By Ed Cooney and Ed Hanna

The cyber landscape is changing rapidly with many insurers reducing coverage, increasing deductibles, and dramatically raising premiums. Some insurance markets are no longer renewing existing policies, nor writing new cyber business at all.

What can you do to obtain coverage?

• • Back-up
    Perform weekly off-network full backups

• • Patch Management
    Install security updates immediately

• • Defensive Software
    Enable firewalls on all and employ the latest antivirus and anti-malware software for network servers

• • Train & Test
    Consistent training on malware identification, password constructions, responding to security incidents, social engineering attacks, conduct episodic phishing tests

• • Limit Remote Access
    Utilize a VPN and multi-factor authentication for all remote connections

• • Endpoint Detection & Response
    Utilize EDR tool that actively detects and removes malware and other malicious software from your network

• • Incident Response Plan
    Adopt a plan to guide decision making when a cybersecurity incident occurs

• • Passwords
    Implement a technology password policy that meets or exceeds the NIST Password Standards 800-63B and all associated updates

Contact us for your free, customized cyber risk analysis including:

• • Your company’s risk profile
  • Estimated potential financial losses
  • Comparative indutry benchmarking
  • Specific coverage recommendation