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Leverage and Demonstrate Value with your Cyber Insurance Renewal
Learn how to maximize the value of your cyber insurance renewal by implementing a solid cybersecurity program, leveraging risk controls, and demonstrating program effectiveness to underwriters and CFOs.
- Leverage and demonstrate value with your cyber insurance renewal by having a solid program in place.
- Ensure good risk by implementing multi-factor authentication, endpoint detection and response, patch management, and other key controls.
- Conduct regular vulnerability management and table-top exercises to test and validate your program.
- Keep your CFO and chief risk officer informed of your cybersecurity program and progress.
- Review your program regularly and make adjustments as needed to maintain a good risk profile.
- Consider using a broker to help you demonstrate and identify value in your program.
- Be prepared to walk your underwriters through the specifics of your program.
- Prioritize patch management, vulnerability management, and simulation exercises to stay ahead of potential threats.
- Regularly assess and validate your backups and recovery procedures.
- Consider using a third-party to help with vendor management and risk assessments.
- Prioritize good risk management by leveraging your broker and underwriters to identify and mitigate potential risks.
- Consider using a simulation exercise to test and validate your program.
- Prioritize keeping your organization’s assets up to date with the latest security patches and updates.
- Prioritize testing and validation of your program to ensure it is effective in preventing and responding to cybersecurity threats.