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Lower Your Cyber Security Insurance Premiums

Take these steps to possibly lower your cyber insurance premiums

Ransomware Attack? What To Do!

Take these steps immediately to mitigate your damage and help prevent it.

Hacked? What To Do!

Take these steps immediately to mitigate your damage and help prevent it.

10 Things to Do to Lower Your Cyber Insurance Premiums*

1. Risk Assessment and Mitigation

Conduct a thorough risk assessment to identify potential vulnerabilities in your organization's cybersecurity. Implement effective risk mitigation measures to reduce the likelihood of a cyber incident.

2. Security Measures

Implement robust cybersecurity measures such as firewalls, antivirus software, intrusion detection systems, and encryption. Regularly update and patch your systems to address known vulnerabilities. For more info + guidance, download + implement: NIST Framework. (National Institute of Standards and Technology)

3. Employee Training:

Train your employees on cybersecurity best practices, including how to recognize and avoid phishing attacks. Human error is a common cause of security breaches, so educating your staff is crucial. Free Cyber Security Training Class

4. Incident Response Plan

Develop and regularly test an incident response plan. Having a well-defined plan in place can help minimize the impact of a cyber incident and demonstrate to insurers that you are proactive in managing risks.

5. Data Backup and Recovery

Implement regular data backup procedures and ensure that you have a reliable data recovery plan. This can help reduce the potential impact of a ransomware attack. It is crucial to note that these backups need to be immutable, like in a hosted infrastructure like Azure, or in a air-gapped configuration. There needs to be restricted access to the back ups, either code or physical.

6. Compliance

Ensure that your organization complies with relevant cybersecurity regulations and standards. Adhering to industry best practices can positively impact your insurability and premiums.

7. Cybersecurity Audits

Conduct regular cybersecurity audits to identify and address potential weaknesses. Demonstrating a commitment to maintaining a strong cybersecurity posture can influence insurance premiums.

8. Cybersecurity Insurance Policy Review

Regularly review and update your cybersecurity insurance policy to ensure that it adequately covers your organization's needs. Work closely with your insurance provider to understand the terms and conditions of the policy.

9. Collaboration with Experts

Consider engaging cybersecurity experts or consultants to assess and improve your organization's cybersecurity posture. Their insights can help you make informed decisions to enhance your security measures. Let's Talk

10. Monitoring and Detection

Implement continuous monitoring and detection systems to identify and respond to potential threats in real-time. Early detection can help prevent or minimize the impact of a cyber incident.

* Disclaimer:
  • It’s essential to keep in mind that the specific measures that will have the most impact on your insurance premiums may vary based on your industry, the size of your organization, and other factors. Consult with your insurance provider to discuss your specific situation and to understand how different risk management practices may affect your premiums.
  • The extent to which you can lower your cyber insurance premiums with a cybersecurity plan in place can vary depending on several factors. Insurance companies typically consider the overall risk profile of an organization when determining premiums.
  • While a strong cybersecurity posture can potentially lead to lower premiums, insurance costs are influenced by a combination of factors. The cybersecurity landscape is dynamic, and new threats may emerge. Regular communication with your insurance provider, periodic risk assessments, and updates to your cybersecurity plan are crucial to maintaining a favorable risk profile.
  • Ultimately, the impact on premiums will depend on the policies and practices of your specific insurance provider. It’s advisable to engage in open communication with your insurer to understand how they evaluate cybersecurity measures and to explore opportunities for premium reduction based on your organization’s efforts to mitigate cyber risks.

For more information: NAIC, National Association of Insurance Commissioners

Cyber Security Training Class

Ransomware Attack? What to do!

If you believe you have been hacked, it’s crucial to take immediate action to minimize damage and secure your accounts. Here are steps you can take:

  1. Change Passwords:
    • Change the passwords for the compromised accounts immediately.
    • Use strong, unique passwords for each account.
    • Enable two-factor authentication (2FA) if available.
  2. Scan for Malware:
    • Run a full antivirus or anti-malware scan on your computer and other devices to identify and remove any malicious software.
  3. Check Account Activity:
    • Review the recent activity on your accounts to identify any unauthorized access or suspicious activities.
  4. Secure Email Accounts:
    • If your email account has been compromised, change the password immediately.
    • Check for any email forwarding rules or filters that may have been set up without your knowledge.
  5. Notify Financial Institutions:
    • If your financial accounts are involved, contact your bank and credit card companies to report the issue and follow their instructions.
  6. Update Software:
    • Ensure that all your software, including operating systems, browsers, and security software, is up-to-date with the latest patches.
  7. Enable Security Features:
    • Enable security features like login alerts and notifications offered by the services you use.
  8. Be Wary of Phishing:
    • Be cautious of phishing attempts. Avoid clicking on suspicious links or downloading attachments from unknown sources.
  9. Disconnect from the Internet:
    • If you suspect a severe breach, disconnect the affected devices from the internet to prevent further unauthorized access.
  10. Monitor Accounts:
    • Regularly monitor your accounts for any unusual activity even after taking initial actions.
  11. Report to Authorities:
    • If you believe you are a victim of cybercrime, consider reporting the incident to your local law enforcement or a relevant cybercrime reporting organization.
  12. Update Security Questions:
    • If applicable, update security questions and answers for your accounts.
  13. Educate Yourself:
    • Learn from the incident to better protect yourself in the future. Understand how the breach occurred and take steps to prevent similar incidents.

Remember, the key is to act quickly and decisively. If you are unsure about the appropriate steps, consider seeking assistance from a professional, such as a cybersecurity expert or the customer support of the affected service. We can help.

Been hacked? What to do!

If you believe you have been hacked, it’s crucial to take immediate action to minimize damage and secure your accounts. Here are steps you can take:

  1. Change Passwords:
    • Change the passwords for the compromised accounts immediately.
    • Use strong, unique passwords for each account.
    • Enable two-factor authentication (2FA) if available.
  2. Scan for Malware:
    • Run a full antivirus or anti-malware scan on your computer and other devices to identify and remove any malicious software.
  3. Check Account Activity:
    • Review the recent activity on your accounts to identify any unauthorized access or suspicious activities.
  4. Secure Email Accounts:
    • If your email account has been compromised, change the password immediately.
    • Check for any email forwarding rules or filters that may have been set up without your knowledge.
  5. Notify Financial Institutions:
    • If your financial accounts are involved, contact your bank and credit card companies to report the issue and follow their instructions.
  6. Update Software:
    • Ensure that all your software, including operating systems, browsers, and security software, is up-to-date with the latest patches.
  7. Enable Security Features:
    • Enable security features like login alerts and notifications offered by the services you use.
  8. Be Wary of Phishing:
    • Be cautious of phishing attempts. Avoid clicking on suspicious links or downloading attachments from unknown sources.
  9. Disconnect from the Internet:
    • If you suspect a severe breach, disconnect the affected devices from the internet to prevent further unauthorized access.
  10. Monitor Accounts:
    • Regularly monitor your accounts for any unusual activity even after taking initial actions.
  11. Report to Authorities:
    • If you believe you are a victim of cybercrime, consider reporting the incident to your local law enforcement or a relevant cybercrime reporting organization.
  12. Update Security Questions:
    • If applicable, update security questions and answers for your accounts.
  13. Educate Yourself:
    • Learn from the incident to better protect yourself in the future. Understand how the breach occurred and take steps to prevent similar incidents.

Remember, the key is to act quickly and decisively. If you are unsure about the appropriate steps, consider seeking assistance from a professional, such as a cybersecurity expert or the customer support of the affected service.

No More Worrying about

  • Ransomware + Hackers

  • Disaster Recovery

  • Downtime

  • Physical Vulnerabilities: equipment failure, lightning strike, fire, flood, or theft

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