Navigating Cyber Insurance Requirements

We’ll help address fundamental requirements needed to insure your organization.

Over the last several years we’ve all been witness to the growing number and sophistication of cyber incidents occurring around the globe. Organizations – both big and small – may understand the devastating impact an attack would have on their business but reducing that risk of intrusion can test even the most seasoned technology leader.

In response to this surge in attacks, there’s been a growing list of cyber insurance providers who seek to offset the damages incurred when information and systems within a client’s environment is compromised. Typically, cyber insurance coverage is going to vary greatly across providers and their specific policies. The most popular scenarios seem to be additional coverage added to existing policies including general liability, business interruption, errors and omissions, and others.

How can you lower your cyber insurance premium?

Here’s Where Oakwood Can Help You Prepare.

If you’ve done your homework and decided that insuring your organization against a malicious attack is right for you – there’s some work that you’re going to want to do to ensure you meet some of the fundamental requirements insurers are looking for in policy holders. Below are just a few of the requirements you may encounter.

Adopting a Zero Trust Framework

Ensure users are authenticated, authorized, and continuously validated before being granted access to applications and data.

Endpoint Detection & Response (EDR)

With proper EDR measures in place – you’ll be able to hunt, both proactively and reactively, for indicators of compromise and remove them.

Multi-Factor Authentication (MFA)

MFA provides for secure access to better validate the user’s identity and defend against account compromise.

Documented Backup & Recovery procedures

We can assist in developing a robust and well-documented backup plan and assist in testing on a regular basis.

Identity & Access Management (IAM)

Implement greater control of user access by identifying, authenticating, and authorizing users, while prohibiting unauthorized ones.

Privileged Access Management (PAM)

Secure privileged accounts from malicious or accidental access from internal, external, and third-party threats

By implementing and adhering to the above, you’ll help bolster the security of your enterprise and prove to insurers that you already have proactive strategies and systems in place.

Let the Oakwood Team help get you there.