Questions Your Cybersecurity Insurance Provider Will Ask
Have you been researching cybersecurity insurance, but aren’t sure if you qualify? Before you can secure coverage from a carrier, you need to do your due diligence and enhance your cybersecurity.
Cybersecurity insurance is protection designed specifically to help cover the potentially massive expenses associated with an unavoidable data breach. It can be a worthwhile investment, so long as you know how it works.
ARCIS Technology Group can deliver the cybersecurity support needed to ensure that you qualify for a robust cybersecurity policy, and help you meet the standards set out in the claim process as well.
Get in touch with the ARCIS Technology Group team to discover how our cybersecurity suite will manage your insurance policy compliance.
Insurance Won’t Protect You If Your Cybersecurity Standards Aren’t Up To Par
The somewhat inevitable nature of modern cybercrime has led businesses to consider cybersecurity insurance as a final layer of reassuring protection.
In fact, it’s becoming more and more necessary, as many insurance providers have begun drawing a clear line between normally covered losses, and those incurred by cybercrime-related events.
That means that if your cybersecurity doesn’t meet the standards of your insurance provider, you may not be as well covered as you think.
15 Questions Your Cybersecurity Insurance Carrier Is Going To Ask…
- Do you apply security patches to servers and PCs on a monthly basis?
- Do you utilize web filtering to block access to known malicious websites?
- Do you utilize an advanced endpoint detection and response (EDR) tool on all endpoints and servers?
- Do you utilize a SIEM solution monitored 24×7 by a Security Operations Center?
- Do you utilize an Advanced Email Threat Protection solution?
- Do you conduct regular security awareness training?
- Do you conduct phishing campaigns?
- Do you update your firewall software regularly?
- Do you require Multi-Factor Authentication on privileged accounts, email, and remote access to your network and all hosted applications?
- Do you encrypt all your sensitive data on all endpoints and mobile devices?
- Is Intrusion Detection enabled on your firewall?
- Do you perform annual incident response planning?
- Are you vetting your vendors to make sure they meet cyber security standards?
- Have you determined how quickly you can recover from a security event and tested your recovery process?
- Are you sure you have enough coverage for loss of business, downtime, and repair of reputation?
If you can’t answer the question correctly and prove it, be prepared to have your coverage denied or accept a significant premium increase. Regardless, it is abundantly clear that the days of the wild wild west in cyber insurance are rapidly coming to an end.
ARCIS Technology Group is here to help.
How We Help Our Clients Qualify For Cybersecurity Insurance
- We can manage the questionnaire on your behalf, identifying any areas that require changes in order to help you qualify for a policy, or even a lower insurance premium.
- We endeavor to make modifications and changes that cost as little as possible. In many cases, it’s simply a matter of developing the right documentation or changing settings in your systems to comply with your carrier’s cybersecurity standards.
- We offer templates for cybersecurity management policies and statements of operations so that you don’t have to start from scratch.
Need Help Qualifying For Cybersecurity Insurance?
Meeting the stipulations laid out by cybersecurity insurance providers may not be easy depending on the state of your cybersecurity posture. ARCIS Technology Group can help you improve your approach to cybersecurity.
Our team provides cybersecurity and technology services for businesses like yours—we are available to help you develop a robust cybersecurity defense.
We can ensure you qualify for a policy and minimize the chance that you’ll have to make a claim on your cybersecurity insurance.
Get in touch with our team to get started.