Cyber insurance is a necessity for most businesses today.
It’s critical to ensure that your cybersecurity policies and tools are current and up-to-date, especially when you’re getting cyber insurance. A data breach can damage the integrity of your own business and its internal framework.
Cyber insurance can help protect your business against unauthorized access, damage, or loss of your data assets. Many businesses are struggling to keep up with the growing number of security threats, but cyber insurance can protect you if your organization experiences a data breach. This valuable coverage provides liability protection for damages and legal costs related to privacy or security violations due to unauthorized access, use or disclosure of sensitive customer information like Social Security numbers, credit card numbers and account data.
A cybersecurity compliance assessment is the new norm for cyber insurance applications. The good news? We can help you understand what’s involved in the assessment, and we can help you get your business ready. Here are some of the things that are a part of a standard assessment:
- Asset Inventory: The tools and processes needed to keep an up-to-date record of all hardware and software within the enterprise.
- Business Continuity Plan: A plan to keep your business systems and data safe and readily available if disaster strikes.
- Cyber Security Controls: The processes your organization has in place to protect your business from dangerous network vulnerabilities and data hacks.
- Data Backup & Recovery: The systems, hardware, frequency, and strategy for backing up your data.
- DDoS mitigation: Hardware or cloud-based solutions used to filter out malicious traffic associated with a DDoS attack, while allowing legitimate users to continue to access an entity’s website or web-based services.
- DMARC: An internet protocol used to combat email spoofing – a technique used by hackers in phishing campaigns.
- Endpoint and Network Security: Endpoint security is deployed and operated directly on endpoints, while network security tools protect against threats traversing the corporate network.
- Information Security Governance: The principles and vision that guide the process by which you create an effective information security system.
- Intrusion Detection System (IDS): A device or software application that monitors a network for malicious activity or policy violations.
- Managed Service Provider: A third party organization that provides a range of IT services, including networking, infrastructure, and IT security, as well as technical support and IT administration.
- Perimeter Firewalls: Hardware solutions used to control and monitor network traffic between two points according to predefined parameters.
Understanding the cyber insurance requirements can be overwhelming. Our team is here to help you address your cybersecurity needs. Call us, tell us about your situation, and we’ll let you know how we can help.