How to Qualify for Cyber Security Insurance

How LA Networks can help your business qualify for cybersecurity insurance?

Cyber insurance coverage requirements.

In order to determine your premium, coverage limits and whether you even qualify for cyber insurance in the first place, most providers will carry out a cyber insurance risk assessment as part of their underwriting process. Depending on the size of your company, this process can range from a questionnaire to a detailed analysis carried out over multiple weeks by a cyber security firm. Regular check-ups and reassessments are also possible.
To keep risks at an acceptable level, policyholders are required to meet basic IT security standards in order to qualify for cyber insurance. At a minimum, a company interested in buying cyber insurance must have the following safety measures in place:

• Use multi-factor (MFA) authentication wherever it is available such as Cisco Duo
  This is one of the simplest, yet most effective, actions that any organization can take to protect themselves. If you’re not enabling it, you’re essentially leaving your doors unlocked. Multi-factor authentication from Cisco’s Duo protects your applications by using a second source of validation, like a phone or token, to verify user identity before granting access. Duo is engineered to provide a simple, streamlined login experience for every user and application, and as a cloud-based solution, it integrates easily with your existing technology.
• Conduct an annual comprehensive risk assessment
  This will help identify your cyber risk, just like you would identify crumbling foundation or fire hazards. But identifying risks doesn’t mean much without taking the next step—so be sure your risk assessment is followed by a detailed plan of action.
• Require security awareness training for all staff
  It’s still true that with all the security risks out there, your weakest link is still your people. Teaching them the basics, and also building a culture of cybersecurity within your organization, will help to greatly reduce risk.
  LA Networks will supplement your IT team to achieve your strategic initiatives or fill critical skill-set gaps with easy-to-use, flexible staffing models that provide the right support on demand. We will save you valuable time providing highly trained and certified engineers who can get to work right away. No need to worry about sourcing, recruiting, and retaining top talent. If your business is scaling or needs to find an expert team member with a critical skill, our expert engineers are a phone call away
• Mandate secure remote access or VPN connections or setup a Virtual Desktop Infrastructure (VDI)
  With remote work here to stay, this is more important than ever. Using home networks or public WiFi networks can increase risk and exposure—but ensuring secure remote access can reduce this risk.
• All PCs must be equipped with antivirus software and it must be kept up to date
• Most every company has been the recipient of targeted phishing emails, with the hopes of tricking an employee to grant funds or access to the external hacker.
  LA Networks can assist you with advanced anti-phishing products, as well as validating your employee’s efficacy in identifying and responding to these sorts of attacks.
• Enforce endpoint protection, in the form of antivirus and anti-malware software, such as Cisco Secure Endpoint (formally Cisco AMP)
  This is a critical line of defense, as the monitoring of processes executing on the desktop can catch the untoward behaviors of ransomware or worms as they attempt to execute.
• The company network must be protected using a next generation firewall.
• Business data must be regularly backed up using external media or a secure cloud service.
  LA Networks can help you build, or augment your existing backup process, to survive both unexpected disasters, as well as ransomware attacks.
• User access rights and permissions must follow a secure provisioning process,  and be constantly monitored for any changes or breeches in access privileges.
  LA Networks will work with you to build a comprehensive approach to only granting the minimum required access rights to each of your users, and then alerting you to any attempts to circumvent these guardrails.
• LA Networks will supplement your IT team to achieve your strategic initiatives or fill critical skill-set gaps with easy-to-use, flexible staffing models that provide the right support on demand. We will save you valuable time providing highly trained and certified engineers who can get to work right away. No need to worry about sourcing, recruiting, and retaining top talent. If your business is scaling or needs to find an expert team member with a critical skill, our expert engineers are a phone call away