Any reputable Cyber Liability Insurance provided will require you to meet certain cybersecurity requirements before they will even provide you a quote? It’s true!

Today, we’re going to go over some of those requirements. We can help you put those in place – a smart idea no matter what.  Then we can get you connected to a great cyber liability insurance person to get that quote if you want, since we don’t sell insurance here.

As always, we are here to answer questions should you want to learn more.  

Steps To Quality For Cyber Liability Insurance

1. Multi-Factor Authentication (MFA)

Don’t let the name intimidate you. In essence, MFA is like a double-check system to ensure that the person trying to access your company’s sensitive areas truly is who they claim to be. Think of it as having two locks on your door instead of just one – the one on the doorknob and the deadbolt. MFA should be applied on all of the cloud services you use – email, social media sites, banking, all of them that support MFA, and in 2023, they all should. 

2. Behavioral Analysis and Machine Learning Endpoint Protection Software

Now that’s a mouthful, isn’t it? What it boils down to is a smart system that can detect and respond to malicious cyber attacks on your devices, like laptops and phones. This software learns the patterns and behaviors of potential threats and reacts accordingly to keep your business safe.

3. Server Segmentation and Air Gapping

These are fancy terms for keeping your company’s information in separate, unconnected sections. By doing so, you can prevent cybercriminals from easily moving around within your network and accessing critical data. Imagine it like a series of islands, each holding a portion of your information – a cybercriminal might land on one, but can’t easily hop to the next.

4. Server Backups to the Cloud and Offsite Locations

In the unfortunate event of severe data encryption or a data breach, having a backup of your information could be a lifesaver. Backups should be stored in the cloud and/or at offsite locations for optimal security. Think of it as your business’ insurance policy’s insurance policy.

5. Frequent Employee Training

One of the easiest ways for a cybercriminal to gain access to your network is through human error. Regular training sessions for employees, particularly focusing on data protection and cyber threat awareness, can significantly reduce this risk. It’s like a vaccine against the cyber “flu”.

6. Admin Rights Management

Not every employee needs the “keys to the castle”. Limiting admin privileges on company devices to only essential personnel can greatly reduce the potential for internal data breaches. In simple terms, it’s making sure only the people who really need access have it.

7. Business Continuity / Disaster Recovery Plan

Having a written, regularly tested plan in place for network outages and cyberattacks is vital. This is your roadmap to recovery in case of a cyber disaster, outlining protocol and resources to get your business back on its feet as quickly as possible.

8. Email Filtering Protocols / Software

Lastly, but equally important, is implementing robust email filtering. Utilizing protocols such as SPF, DKIM, DMARC, and/or anti-phishing software can greatly reduce the chance of harmful messages reaching your team’s inboxes.

Securing cyber liability insurance can seem daunting, but remember, this is about safeguarding the business you’ve worked so hard to build. Each of these steps represents an investment in the long-term health and safety of your enterprise. And don’t worry – you’re not in this alone. Murph Consulting is here to guide you every step of the way. That’s what it means to be the help desk with a heart! 

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