The Critical Role of Frontline Cyber Defenses in Insurance Adoption: GBS and Sophos Collaboration
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As the cyber insurance landscape evolves rapidly, businesses face the challenge of meeting higher cybersecurity standards to qualify for coverage and combat rising premiums. In collaboration with GBS, this comprehensive guide explores how robust cybersecurity measures can positively impact cyber insurance, including premium reduction and risk mitigation.

Learn how GBS & Sophos technologies and services can enhance your cyber defenses, optimize your insurance position, and prepare your organization to face evolving cyber threats.

 

Why It Matters?

Cyber insurance, provides financial protection against the aftermath of cybercrime incidents. In this guide, we delve into the significance of insurance and its three main benefits: financial coverage, operational support, and instilling confidence in stakeholders. It effectively safeguards against the costs and implications of cyber incidents to ensure business continuity.

Causes of Insurance Claims

Understanding the key triggers for cyber insurance claims is crucial. We highlight the most common causes of claims, including ransomware attacks, hacking incidents, cyber events, business email compromise, and staff mistakes. Gain insights from NetDiligence’s Cyber Claims Study 2022 Report and learn how organizations can proactively address these potential vulnerabilities.

Coverage and Benefits

Delve into the coverage provided by overall policies and the essential benefits they offer. From business interruption costs to forensic analysis, ransom negotiation specialists, data restoration, legal expenses, and public relations services, cyber insurance encompasses various aspects. Learn how these coverage components contribute to comprehensive protection against cyber threats.

Current State of the Market

Explore the evolving landscape of the cyber insurance market, which has transitioned from a ‘soft’ market to a ‘hard’ market. This transition is result of increased cyberattacks and rising costs of recovery. This shift has impacted organizations’ ability to secure coverage, with higher cybersecurity standards, more complex policies, and increased costs. Gain valuable insights from the experiences of IT professionals in our 2022 study.

Leveraging Cybersecurity for Insurance Optimization

Uncover the crucial connection between robust cybersecurity measures and cyber insurance optimization. Learn how strong cybersecurity practices can facilitate coverage approval, reduce premiums, lower the likelihood of claims, and minimize non-payment risks. Explore the correlation between cybersecurity controls like multi-factor authentication, endpoint protection, EDR, XDR, and MDR and favorable insurance terms.

GBS & Sophos Solutions for Enhanced Cyber Defenses

GBS & Sophos can help your organization strengthen its cybersecurity posture and meet the requirements for optimal cyber insurance coverage. Explore the  Managed Detection and Response (MDR) – a trusted service delivering 24/7 threat detection, investigation, and response. Learn about Extended Detection and Response (XDR) for advanced threat hunting and neutralization. Dive into the benefits of Intercept X Endpoint for unparalleled ransomware and breach protection.

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Embrace the power of cybersecurity. Equip your organization with robust defenses, reduce risk, and optimize your insurance position. We can strengthen your cybersecurity stance and enhance your chances of obtaining comprehensive cyber insurance coverage. Safeguard your business against evolving cyber threats and ensure resilience in the digital landscape.

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