Is Your Business Struggling to Afford Cyber Insurance as Premiums Increase?
With the frequency of cyberattacks on small and medium-sized businesses (SMBs) continually rising, providers are rapidly increasing cyber insurance premiums.
VC3 is here to help.
The Big Question:
How Does Your Business' Current Protection Stack Up?
As cyber insurance requirements become more rigorous and comprehensive, SMBs must have the right protections in place to keep premiums down and their current coverage in place. To see where you stand, click on each of the 12 key requirements below and score yourself 1 point for each one you fulfill.
New Cyber Insurance Requirements
VC3 can help keep premiums low by augmenting your existing services and mitigating behavioral cybersecurity risks across these 6 areas.
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Employee Cyber Awareness Training
Periodic training that helps teach employees how to detect and avoid common cyber threats. -
Email Protection + Web Content Filtering
Special tools that prevent employees from receiving and accessing risky content. -
Credential Monitoring
Detects when your credentials are compromised on the Dark Web with real-time notifications. -
Regular Vulnerability Scans
Inspects potential security holes and weaknesses across your devices and networks. -
Data Loss Prevention Controls
Monitoring for unauthorized or suspicious access to data. -
Advanced Threat Hunting
Proactively searching for cyber threats that are undetected in your network.
How You're Already Meeting Prior Requirements
The good news is that as a VC3 client, we recommend best practices that typically check off the other 6 cyber insurance requirements for your organization.
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Endpoint Detection + Response (EDR)
Identifying security threats already inside your endpoint devices, such as a server or computer. -
Change Control Policies + Controls
Includes logging and understanding the repercussions of all changes made to your security equipment and applications. -
Multi-Factor Authentication (MFA)
Requires an extra layer of protection such as a code sent to your phone. -
Data Backup + Disaster Recovery
Backing up your data both onsite and offsite, and testing your data backup. -
Software Patching
Regularly applying patches to your municipality’s software. -
Password Policies
Requiring more complex and secure passwords.
Why Cyber Insurance is Becoming More Expensive and Less Accessible for SMBs
SMBs are more vulnerable to cyberattacks than ever before. Because they’re heavily targeted, cyber insurance premiums for SMBs are skyrocketing as their coverage requirements become lengthier and more comprehensive. That means many SMBs are at risk of losing their current coverage, and just like car insurance, it’s very challenging to get cyber insurance coverage back once it’s terminated.