Once considered an optional extra, cybersecurity insurance is increasingly being seen as an integral part of your cybersecurity strategy. During the aftermath of a cyber-attack, the correct insurance policies can ensure that your organization is able to remediate the effects of the attack and ride out a turbulent economic period. This article will explain the top solutions you need to qualify for cybersecurity insurance.
Not only does cybersecurity insurance allow you to properly plan company policy for the event of a cyber-attack, but it can also reduce your chances of suffering an attack in the first place. This is correlation rather than causation, however. Insurance providers will expect you to have significant cybersecurity infrastructure in place, before they will agree to insure you. This results in your organization being better prepared, and, therefore, less likely to make a claim.
To evaluate whether you’re eligible for cover, insurance providers will carry out a cybersecurity risk assessment – this can be as simple as a questionnaire, or as intensive as a multi-week technical analysis of your network. The nature of this assessment depends not only on your insurer, but your organization’s size, sector, and attack history. Relevant regulatory framework will be assessed, to ensure you meet all the expected standards.
To improve your chances of being accepted by an insurance broker, whilst improving your cybersecurity stature, there are several areas that your organization can invest in. You can find out more about these areas in our blog: How To Qualify For Cybersecurity Insurance.
This article will explore the top solutions that you should consider investing in to qualify for cybersecurity insurance. This list will not detail ten products within one category, but will, instead, highlight key products that cover a range of security needs, including MFA, XDR, EDR, firewalls, and SAT solutions.