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Are You Ready for New Cyber Insurance Requirements

February 8, 2023

Cyberattacks are here to stay. Therefore, cyber insurance is an absolute necessity these days. As a result, cyber insurance carriers are getting deeper into your daily operations and want to know what you are doing to protect yourself. After all, the insurance carrier will be paying less in claims if the insured can do a better job of reducing cyber incidents. As The Hacker News reports, cyber insurance carriers are requiring certain technologies before writing your cyber policy. One requirement we see is the implementation of multi-factor authentication (MFA) for all administrator accounts, service accounts and access to network devices.

“Underwriters are now requiring MFA on all cloud-based email, remote network access, as well as on all administrative access for network infrastructure, workstations and servers, directory services, and IT infrastructure.” Your challenge is to find out where MFA would apply. Perhaps it is easier to just require MFA for every access and not just for administrators. This means every user would need to authenticate with MFA when logging on to their computer and/or connecting to the network. Be prepared for some significant push back, but also enjoy a much more secure environment. Your cyber insurance provider will love you.

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