Understanding the Cyber Insurance Landscape
Cyber attacks are costly for businesses, which makes cyber vulnerabilities a priority and cyber insurance a must. By protecting businesses from Internet-based risks, cyber insurance companies establish premiums much like any other insurance product — by scoring an organization’s key vulnerabilities. Fewer vulnerabilities equates to more cost effective coverage.
How Cyber Security Impacts Cyber Insurance
Proactive protection promotes improved coverage
- Protect sensitive information from data breaches
- Safeguard against ransomware attacks
- Assess and mitigate cyber vulnerabilities
- Prevent unauthorized network access
- Prepare incident response plan
At Atrion, we are committed to assessing risk, determining remediation measures and providing long-term cyber security for our clients as they look to improve their cyber insurance coverage. We not only value the security and safety of our clients’ data, but we also realize the important role we play as security experts in the eyes of cyber insurers.
Every business needs a complete incident response plan. Is yours ready?
Every Incident Response Plan Should Include:
- Incident classification glossary: Determine level of risk associated with incident.
- Internal contact directory: Offline resource containing critical internal contact information in the event of an incident.
- Response protocol: Step-by-step instructions to guide response.
- External contact directory: Offline resource containing legal and insurance contact information and policy numbers.
- Offline support: Emergency toolkit containing hard copies of critical documents and external drives in the event online capabilities are compromised.
- Emergency contact directory: Offline resource offering contact information for any additional critical internal team members or external partners.
Atrion Improves The Cyber Insurance Environment for Businesses By:
- Assessing and auditing network vulnerabilities and risks.
- Developing tiered support programs customized to an organization’s specific needs.
- Providing long-term network security, offering protection and leverage with cyber insurance vendors.
- Proactively uncovering risks that may prove costly if tapped by malicious actors or noticed by cyber insurers.
- Minimizing an organization’s cyber risk in general and improving its standing with cyber insurers.