CYBERSECURITY FOR INSURANCE COVERAGE
Reduce risk profiles & gain powerful cybersecurity protection
Whether you’re a business seeking a cyber insurance policy or an insurance carrier looking to increase security for your insureds, a robust security and risk management policy is critical in today’s threat landscape.
Our experts work with many businesses to ensure they meet—and exceed—security requirements for their cyber insurance policies. We offer both proactive and incident response services to help organizations minimize the probability of a breach and maximize their security.
CYBERSECURITY FOR INSURED BUSINESSES
Meeting & exceeding requirements
We can implement appropriate safeguards to meet, exceed, and maintain requirements for your cyber insurance policy.
Qualifying for Cyber Insurance Policies
If your business is looking to obtain cyber insurance coverage or a more cost-effective premium, we can maximize your security posture, satisfying both your insurance and your business needs.
Maintaining Requirements for Policy Renewals
As cyber threats and attack surfaces evolve, so do insurance requirements. Our team continually stays up-to-date with the latest changes so you can continue to meet and exceed your policy needs.
Recovering from Cyber Incidents
In the event of an incident, our incident response experts work with your insurance company so you can return to normal operations as quickly as possible.
Proactive & preventive measures
Comprehensive security controls and protections may reduce premiums for your cyber insurance policy and reduce the likelihood of a breach or attack.
Comprehensive Security Assessments
We offer a variety of risk assessments, including security posture assessments and penetration testing, to evaluate your business’ stance and identify areas for improvement.
Powerful Technology Solutions
Our team of experts provides and implements recommendations to improve your security posture for maximum protection from cyber threats.
Team Training
Bad actors frequently leverage human error to gain access to business systems. We train your staff on how to recognize and report phishing scams to protect your entire organization.
CYBERSECURITY FOR INSURANCE CARRIERS
Minimizing risk for your insured clients
Our services ensure that your insured clients abide by coverage requirements as the threat landscape evolves. We also provide incident response services to help clients mitigate damage and recover as quickly as possible in the event of a breach.
Adhering to Requirements
Have confidence in the strength of your client’s security posture. Our team ensures all appropriate protections and requirements are strictly adhered to, with the proper supporting documentation in place.
Ongoing Security Checkups for Policy Renewals
Cybersecurity isn’t one-and-done. We consistently keep your insured clients secured from the latest threats as attack methods and safeguards evolve.
Incident Response & Remediation
Our incident response professionals immediately respond to cyber incidents, resolve issues, restore data, and return the business to normal operations.
Strengthen security measures for your clients
We help insured businesses manage and reduce their risk in order to minimize the chances of being affected by a cyber incident.
Assessments & Audits
We perform thorough risk assessments to gain a transparent understanding of security controls and policies, identify any issues and vulnerabilities, and take steps to resolve them.
Policy & Procedure Development
Our team creates and records security documentation, including specific in-house needs and compliance requirements, so that all objectives are clearly outlined and followed.
Proactive Monitoring
We stay ahead of any potential issues with frequent scanning, patch management, web filtering, and more to ensure systems and programs align with current cybersecurity guidance.
CASE STUDY
Formalizing documentation & enhancing security for a municipal organization
This client needed to improve control activities and share security program information with their regulatory entity. Our team improved, formalized, and documented organizational security policies to help the client gain better threat intelligence and meet necessary requirements.
Frequently Asked Questions
What is cybersecurity insurance?
Cybersecurity insurance is a policy businesses take out to protect themselves against losses due to a cyber crime or incident. Like regular insurance, you must pay a premium. Your overall risk level determines the cost of the premium.
In the event of a data breach, ransomware attack, or other cyber crisis, you’ll receive financial coverage and assistance during the identification and recovery process.
Why is cybersecurity insurance important?
In today’s technological landscape, cybersecurity insurance is essential to protect against breaches. It provides coverage to help you identify and respond to attacks so your organization can stay afloat.
My business is very small. Do I need cybersecurity insurance?
Yes! Smaller businesses are still susceptible to cyberattacks. “We tell everyone that they need it because everyone is susceptible to a potential breach,” says Jon Sharp, President of Hardenbergh Insurance Group.
It’s true—43% of breaches occur at companies with 250 employees or less. Of those organizations, 61% go out of business within the first year after the attack.
How can I lower the cost of my premium?
The controls you have in place will affect the cost of your premium. Although there are no specific prerequisites you must have before obtaining cybersecurity insurance, having better security procedures will make your business safer and reduce your costs.
What does cybersecurity insurance include?
Cybersecurity insurance commonly covers items like breach notification and credit monitoring costs, loss of business income, forensic research costs, ransomware costs, and legal support. This is not true for every policy, however; be sure to read your policy carefully so you can understand what is actually covered.
I’m an insurance carrier. How can I encourage my clients to increase security at their organizations?
We understand that minimizing risk for your clients is crucial. Share resources with your clients about security best practices, steps they can take to reduce risk, and third-party vendors who can help them improve their security posture. Ongoing security checkups, consistent monitoring, and policy & procedure development are great places to start.