There are some steps you can take to lower the cost of cyber insurance for your business, such as:
• Work with your broker to find the best policy for your needs and budget1.
• Minimize the volume of personal identifiable information (PII) that you store and handle1.
• Stay compliant with data privacy regulations, such as GDPR or CCPA1.
• Implement a cybersecurity framework, such as NIST or ISO, to improve your security posture2.
• Use multi-factor authentication (MFA) for all accounts, especially remote access34.
• Maintain updated software and patch any vulnerabilities regularly35.
• Use endpoint detection and response (EDR) and privileged access management (PAM) tools to monitor and protect your devices and accounts35.
• Have backup procedures and offline or alternative backup solutions for your data35.
• Perform regular penetration testing and system audits to identify and fix any weaknesses5.
• Provide cybersecurity training for your staff to raise awareness and prevent human errors5.
These are some general tips, but you should always consult with your insurance agent and cybersecurity experts to find the best solutions for your specific situation. Cyber insurance is not a substitute for good cybersecurity practices, but rather a complementary measure that can help you mitigate the risks and costs of a cyber incident. If you need help call Computers Done Right at 941-240-2675.
Learn more:
1. soscanhelp.com
2. upguard.com
3. waterfordtechnologies.com
4. cbia.com
5. ccinsb.com
6. bakertilly.com
