As cyberattacks become more frequent and sophisticated, businesses of all sizes are increasingly relying on cyber insurance to protect themselves from financial losses. But cyber insurance is not just about paying out claims. Insurers are also playing an increasingly active role in helping businesses to improve their cybersecurity posture.

One way that insurers are doing this is by providing their customers with cybersecurity assessments. These assessments typically involve a review of the customer’s cybersecurity policies and procedures, as well as a technical assessment of the customer’s networks and systems. The goal of the assessment is to identify any potential cybersecurity vulnerabilities and to provide the customer with recommendations for how to mitigate those vulnerabilities.

In addition to providing cybersecurity assessments, insurers are also offering their customers a variety of other cybersecurity resources and services. These resources and services may include:

• Security awareness training: Insurers can help their customers to develop and deliver security awareness training programs to their employees.
• Vulnerability scanning: Insurers can provide their customers with access to vulnerability scanning tools that can help them to identify and fix vulnerabilities in their networks and systems.
• Incident response planning: Insurers can help their customers to develop incident response plans that will help them to minimize the impact of a cyberattack.
• Cybersecurity consulting: Insurers can provide their customers with access to cybersecurity consultants who can help them to develop and implement comprehensive cybersecurity programs.

By providing their customers with these resources and services, insurers are helping them to become more cyber-resilient. This means that businesses are better able to withstand cyberattacks and to recover from them quickly.

How to leverage your cyber insurer as a cybersecurity auditor

Here are some tips on how to leverage your cyber insurer as a cybersecurity auditor:

• Review your cyber insurance policy carefully. Your cyber insurance policy should outline the specific cybersecurity requirements that you must meet in order to maintain coverage.
• Communicate with your cyber insurer regularly. Keep your cyber insurer informed of any changes to your business or IT environment. This will help them to provide you with the most relevant cybersecurity advice and support.
• Take advantage of your cyber insurer’s cybersecurity resources and services. Many insurers offer their customers a variety of cybersecurity resources and services, such as security awareness training, vulnerability scanning, and incident response planning. Take advantage of these resources and services to improve your cybersecurity posture.
• Participate in your cyber insurer’s cybersecurity assessments. Cybersecurity assessments can help you to identify and fix any potential cybersecurity vulnerabilities in your networks and systems. Be sure to participate in your cyber insurer’s cybersecurity assessments and to implement their recommendations.

By following these tips, you can leverage your cyber insurer as a cybersecurity auditor to help you improve your cybersecurity posture and reduce your risk of cyberattacks.

Here are some examples of how businesses have benefited from working with their cyber insurers to improve their cybersecurity posture:

• One small business was able to identify and fix a vulnerability in its website that could have been exploited by attackers to steal customer data. The business’s cyber insurer identified the vulnerability during a cybersecurity assessment.
• Another business was able to develop a comprehensive incident response plan with the help of its cyber insurer. The plan helped the business to minimize the impact of a ransomware attack that it experienced.
• A third business was able to implement a security awareness training program for its employees with the help of its cyber insurer. The training program helped employees to identify and avoid phishing attacks and other social engineering attacks.

These are just a few examples of how businesses can benefit from working with their cyber insurers to improve their cybersecurity posture. If you have cyber insurance, be sure to leverage your insurer as a cybersecurity auditor to help you protect your business from cyberattacks.

#Cybersecurity #CyberInsurance #CyberRisk #CyberResilience

Jerry Swartz

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