Having Trouble Qualifying For Cybersecurity Insurance In Winston-Salem?
The insurance carriers in Winston-Salem may not want your money if your cybersecurity standards aren’t up to par. Parkway Tech will help you qualify for the cybersecurity insurance you need.
Cybersecurity insurance is protection designed specifically to help cover the potentially massive expenses associated with an unavoidable data breach. It can be a worthwhile investment, so long as you can actually qualify for it.
It’s becoming increasingly common for carriers to ask clients to fill out cybersecurity questionnaires to verify their defensive capabilities before a policy is offered or insurance premium is calculated.
Parkway Tech can deliver the Winston-Salem cybersecurity support needed to ensure that you qualify for a robust cybersecurity policy, and help you meet the standards set out in the claim process as well.
Get in touch with the Parkway Tech team to discover how our cybersecurity support will manage your insurance policy compliance.
Cybersecurity Insurance Won’t Protect Your Winston-Salem Business If Your Cybersecurity Standards Aren’t Up To Par
The somewhat inevitable nature of modern cybercrime has led businesses to consider cybersecurity insurance as a final layer of reassuring protection.
In fact, it’s becoming more and more necessary, as many insurance providers have begun drawing a clear line between normally covered losses, and those incurred by cybercrime-related events.
That means that if your cybersecurity doesn’t meet the standards of your insurance provider, you may not be as well covered as you think.
35 Questions Your Winston-Salem Cybersecurity Insurance Carrier Is Going To Ask…
- Does your business have a policy against opening unverified email attachments?
- Does your business keep malicious and spam emails out of staff inboxes?
- Does your business double-check email attachments before they are delivered?
- Does your business have an email threat protection solution in place?
- Does your business have an endpoint protection solution in place?
- Does your business use an Endpoint Detection & Response (EDR) solution?
- Does your business use multi-factor authentication (MFA) or Two-Factor Authentication (2FA) on all user accounts?
- Does your business test cybersecurity standards with regular vulnerability scans?
- Does your business prohibit incoming connections using hardware and software firewalls?
- How many users have local administrator rights enabled?
- Do you have a content filtering solution?
- Does your business monitor traffic into and out of the network?
- Do your staff members have access to a password manager?
- Are admin accounts tracked and monitored to limit and log access?
- Do you have recent and tested backups of all mission-critical data, applications, and configurations?
- Do you have encryption for backups (both at rest and in transit)?
- Do you store backups on and offsite?
- Are your offsite backups protected by an air-gap and separate authentication mechanism?
- Does your business use a cloud syncing service? (e.g. OneDrive, DropBox, SharePoint, Google Drive)
- Is your cloud data backed up?
- Can staff members access business email on their personal devices?
- Can staff members send or receive PII, ePHI, or PCI data through business email?
- Do you have an email encryption solution in place?
- Is your staff regularly tested and trained on phishing and other social engineering attack vectors?
- Do you have a log aggregation solution in place?
- Do you have a Security Incident and Event Management (SIEM) system in place?
- Do you have an update and patch management system in place?
- Does your business monitor its network 24/7?
- Do you work with a third-party IT company?
- Do you rely on a third-party Security Operations Center (SOC)?
- Is all data encrypted (at rest and in transit)?
- Does your business have a documented policy for addressing unsafe conduct by employees?
- Is your business compliant with applicable regulations and standard systems?
- Do you have a policy in place for limiting resigning or terminated employees’ access to business data?
- Do you have a Mobile Device Management policy in place to limit risks posed to business data by your employees’ personal devices?
Many of our clients attempt to fill out these questionnaires on their own, but more often than not, we have to make corrections before they’re submitted. The fact is that this sort of documentation can be very complicated for those who don’t have extensive experience with IT.
Parkway Tech is here to help.
How We Help Our Clients Qualify For Cybersecurity Insurance
- We manage the questionnaire on your behalf, identifying any areas that require changes in order to help you qualify for a policy, or even a lower insurance premium.
- We endeavor to make modifications and changes that cost as little as possible. In many cases, it’s simply a matter of developing the right documentation or changing settings in your systems to comply with your carrier’s cybersecurity standards.
- We offer templates for cybersecurity management policies and statements of operations so that you don’t have to start from scratch.
How To Get Cybersecurity Insurance In Winston-Salem
In order to determine what type of cybersecurity insurance you may need, it’s important to start by taking stock of your business and the potential threats posed to it:
- Evaluate your system infrastructure: The best way for you and your team to determine the kind of coverage that is best for your business is to understand your IT infrastructure. By evaluating your systems from top-to-bottom, you’ll have a clear idea of all the different access points that could be leaving your network vulnerable to threats.
- Improve your security to reduce rate: Don’t forget to look into how investing in your cybersecurity could save you money on premiums. Open up a dialogue about it with your potential Cybersecurity Insurance provider and see what they suggest.
- Identify your risks: Next, it’s best practice to conduct a risk assessment and an impact analysis. Carefully review all your business’ assets—including financial data, customer information, and intellectual property. Categorize assets according to their risk and make considerations for the potential impacts that a data security event could have on all aspects of your business.
Need Help Qualifying For Cybersecurity Insurance In Winston-Salem?
Meeting the stipulations laid out by cybersecurity insurance providers may not be easy depending on the state of your cybersecurity posture. Parkway Tech can help you improve your approach to cybersecurity.
Our team provides cybersecurity and technology services for businesses like yours—we are available to help you develop a robust cybersecurity defense. We can ensure you qualify for a policy and minimize the chance that you’ll have to make a claim on your cybersecurity insurance.
Get in touch with our team to get started.
Written by Chris Michalec posted on February 24, 2022
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