When it comes to cyber insurance, security posture is key.
With ransomware on the rise, your cyber insurance brokers are taking a closer look at how prepared you are and how strong your security posture is. While we face ransomware threats of increasing frequency and sophistication, insurers are putting more complex and stringent requirements in place.
ARE YOU PREPARED?
Increased rates of 30-50% across the board.*
Are you resilient enough to recover?
BACKUP & RECOVERY
Do you have the right technologies in place
- AND - have you tested your implementation?
Do you have an
program in place that limits business disruption?
Are you prepared to provide the right
to your insurer?
Insurers are inspecting in much greater detail. The requirements your organization met last year are no longer enough. Organizations that aren’t prepared will be faced with:
- Increased rates of 30-50% across the board
- Decreased, limited or NO coverage
- Lawsuits from customers or employees if data is exfiltrated
This Is Real.
Ransomware now accounts for
75% of all cyber insurance claims.**
What Can ePlus Do For You
ePlus can help solve gaps related to cyber insurance standards and address market concerns on ransomware preparedness. ePlus can help create documentation/artifacts of proof for your agent.
Putting simple policies in place around backup and recovery, incident response, or outsourcing security consulting services your organization can’t support could be the difference between coverage or no coverage; high premiums or fair premiums.
Source: * Aon PLC, 2021 ** AM Best’s Market Segment Report, June 2021