ThreatAdvice Poised to Help Businesses Fill Cybersecurity Requirements Now Required by Insurance Companies
Atlanta, Ga., December 3, 2021 –ThreatAdvice a company focused on cybersecurity, cyber education and MSSP services today announced that it is poised to help companies and organizations fulfill cybersecurity requirements now required by some insurance companies to be insured.
It is always important to ensure that you are taking appropriate measures to protect your organization from a breach. But now if you are NOT taking the appropriate measures, you may be facing significant increase when it is time to renew your cyber insurance policy or may be denied coverage at all.
ThreatAdvice spoke with David Foster, a principal at Three Arbor Insurance in Birmingham, Ala., who said that most insurance carriers will not even provide cyber insurance if multi-factor authentication is not in place.
“Whether or not cyber coverage is issued, and the cost of that coverage, is determined by analysis of current cyber threats and what is expected in the future,” said Foster. “When our customers take proactive cybersecurity measures such as MFA, it increases the chance that they will be able to be insured and decreases the cost of their premiums.”
ThreatAdvice vCISO (virtual chief information security officer) utilizes a combination of employee education, skilled senior cybersecurity personnel and software, and sophisticated tracking and monitoring solutions to help businesses ensure that they are maximizing their cybersecurity posture and therefore reducing cyber insurance policy costs. Additionally, ThreatAdvice’s Managed Security Services (MSSP) offers SOCaaS (24/7 security operations center), SIEM & advanced EDR and PEN testing among other such services that insurance companies are looking for when the evaluate a customer’s risk potential.
While ThreatAdvice’s solutions can benefit any business, the company is focused on serving SLED, government contracting, healthcare, legal, manufacturing, transportation and financial industries.
According to Foster, here is a partial list of other cybersecurity initiatives that insurance companies are looking for companies to be taking:
- Do you deploy Multi-factor Authentication (MFA)?
- Do you have adequate Backups & Segmentation? (these should be frequently tested, at least twice a year)?
- Do you have an employee phishing training and testing program in place?
- Do you deploy Endpoint Detection and Response services?
- What is your patch cadence?
- Do you have an incident response plan in place?
“ThreatAdvice consults closely with our insurance partners to stay abreast of these requirements as well as many others and delivers comprehensive cybersecurity services to our customers so that they are insurable and at the lowest premium rate possible, said Brandon Jarrett, president of ThreatAdvice.
About ThreatAdvice
ThreatAdvice, headquartered in Atlanta, Ga., is focused on providing world-class cybersecurity solutions to a variety of industries. The company’s flagship service ThreatAdvice vCISO, serves to maximize a business or organization’s cybersecurity posture and is complemented by a standalone cybersecurity education solution ThreatAdvice Education, as well as a variety of MSSP and MSP solutions. For more information visit threatadvice.com or call 770-451-1111.