During the cyber underwriting process, insurers determine appropriate policy coverage by utilizing tools such as non-invasive scanning, continuous monitoring assessments, breach history reporting, compliance verification, benchmarking, and cyber risk quantification.
Yes. If your business has already been the victim of a ransomware attack, the chances for a repeat attack are higher, often due to poor security, lack of continuous monitoring, or because the hacker never left.
The cyber underwriting process determines policy coverage and entails a comprehensive assessment by insurers of a company’s existing monitoring software, data management, security procedures, breach history, relative benchmark, and more.
Those in the facility maintenance industry should be aware of internet-connected systems at risk of cybersecurity incidents. Potential targets may include security, lighting, HVAC, fire protection, elevator and escalator, industrial control, building management, and building automation systems.
Manufacturing facilities are susceptible to attacks by financially motivated hackers, competitors, and nation-states due to their focus on safety over security, the use of complex systems, disconnected IT and OT, and the false notion that small manufacturers face less risk, thereby necessitating cybersecurity for manufacturing.
Cyberattacks are common within the education sector due to increased remote learning, unsecured devices, and budget constraints, so administrators must take steps to fortify their cybersecurity systems.
To protect clients, strong cybersecurity in the legal field is critical. ABA rules and government legislation require specific safeguards, but hackers have strong motives to target law firms and other related businesses in the industry.
The healthcare industry is a prime target for hackers, especially since the outbreak of the COVID-19 pandemic. Strong security measures are essential to meet HIPAA requirements and protect patients’ sensitive data, and overall safety.
The financial services sector is subject to unique cybersecurity risks that necessitate careful protections. Regulatory noncompliance, hacks, and insider attacks can be costly, warranting prevention, detection, and response protocols.
Cybersecurity Maturity Model Certification is a standards framework established by the U.S. Department of Defense that assesses a contractor’s capabilities to handle sensitive unclassified information securely. This certification will be required for all DoD contracts beginning in 2025, so organizations should implement continuous security monitoring now to prepare.
Cyber insurance is not a replacement for continuous security monitoring, but it adds an extra layer of protection from financial risks associated with a cybersecurity incident, including costs resulting from repairs, business interruption, and theft.
Planning ahead, meeting with the right decision-makers, presenting facts and figures, discussing compliance, suggesting a risk assessment, focusing on key talking points, and highlighting the importance of continuous monitoring can help you broach the topic of cybersecurity with your clients.
Agents and consultants should discuss cybersecurity and continuous monitoring with their clients to protect the clients’ interests, keep them aware of potential cybersecurity risks, demonstrate expertise, provide value, and more.
Risk assessments, penetration tests, compromise assessments, and breach and attack simulations evaluate a company’s strengths and weaknesses regarding preparedness in thwarting an attack and protecting sensitive data.
The theme of National Cybersecurity Awareness Month this October is ‘Do Your Part. #BeCyberSmart,’ and focuses on steps everyone can take to improve personal accountability, such as using strong passwords, using MFA, and regularly updating software.
Businesses of all sizes and types are under increasing threat of cyber attack. Leading tools to mitigate these risks include firewalls, multi-factor authentication, and, most importantly, continuous network and endpoint security monitoring.
Cybersecurity firms provide critical services and expertise in helping companies remain compliant with the EU’s General Data Protection Regulation, such as safeguarding consumers’ personal data, mitigating threats, improving visibility and remediation, and providing continuous monitoring.