Cyber Insurance
Mitigate risks. Meet cyber insurers’ criteria. Get comprehensive coverage at a fair cost.
ALL-IN-ONE
As cyber threats continue to evolve, businesses face a vital need for insurance coverage. Simultaneously, rising insurance costs have made this protection both a priority and a challenge.
By diligently preparing your cybersecurity environment with the help of Syteca, you can both mitigate risks and increase your chances of getting the best insurance package at a reasonable price.
Security risks affecting cyber insurance costs
Cyber insurance policies offer many compelling benefits for organizations, including financial protection, business continuity, and peace of mind. Approval for cyber coverage and your insurance rate depends on the following aspects:
The faster you can detect incidents, the less the damage, and the lower the quotes for your cyber insurance coverage.
Strong measures for remote access protection boost your organization’s security and help you get lower cyber insurance premiums.
Effective insider risk management enhances your resilience and helps you qualify for better cyber insurance plans.
An actionable incident response plan helps to deter attacks and minimize their impact, which helps you meet insurers’ underwriting criteria.
Prepare for cyber insurance evaluation
Improve your cybersecurity posture with Syteca
Empower your organization with the cybersecurity solutions you need to enhance your defenses against cyber threats and improve your cyber insurance readiness. Leverage monitoring tools to meet the requirements of cyber insurance providers and significantly reduce your risk profile.
Reinforce your cybersecurity practices and mitigate risks with the help of Syteca:
Educate
employees and vendors
Prevent
insider threats
Detect
malicious activity
Respond
to security incidents
Recover
from cyberattacks
How Syteca can help you meet cyber insurance coverage requirements
Syteca is a full-cycle insider risk management platform that provides you with all the necessary tools for reducing the risk of insider threats, detecting malicious activity, and preventing and investigating cybersecurity incidents. With Syteca, you can improve your organization’s resilience against cyber threats and consequently keep your insurance premiums down.
Meeting cybersecurity insurance requirements with Syteca
Commonly required security measures
Syteca solutions
Multi-factor authentication
Commonly required security measures
Multi-factor authentication
Syteca solutions
- Authenticate users through time-based one-time passwords sent to verified devices
- Perform secondary authentication on shared accounts to avoid ambiguity in user logs
- Enable secure manual access request and approval workflow
Privileged access management (PAM)
Commonly required security measures
Privileged access management (PAM)
Syteca solutions
- Granularly control users’ access permissions via a jump box
- Integrate Syteca with ticketing systems for verifying privileged access requests
- Store user credentials in a secure vault
- Safely create, rotate, and revoke user passwords with secrets management
- Enforce single-user access to secrets with password checkout
- Сonfigurе time-based user access restrictions for critical data and systems
Endpoint detection and response (EDR/XDR)
Commonly required security measures
Endpoint detection and response (EDR/XDR)
Syteca solutions
- Continuously monitor user activity on endpoints, including terminal sessions, application use, and file access
- Analyze user behavior with user and entity behavior analytics (UEBA) to identify anomalies that may signify potential threats
- Use predefined rules or create custom ones for detecting dangerous user activity scenarios
- Block users and kill ongoing processes automatically when rules are triggered
- Accelerate incident response with real-time alerts of suspicious activity
Privileged endpoint security
Commonly required security measures
Privileged endpoint security
Syteca solutions
- Take ultimate control over user privileges with privileged account management
- Secure and monitor all RDP connections
- Сreate rules for allowing and denying specific USB devices and monitor all USB connections
- Monitor all clipboard content and keystrokes from users in all types of software apps
Incident response
Commonly required security measures
Incident response
Syteca solutions
- Replay recorded sessions to reconstruct the exact actions of threat actors when investigating security incidents
- Export recorded sessions in a tamper-proof format and provide them to investigators as evidence
- Identify risky insider behaviors and prevent damage by threat hunting with Syteca’s innate auditing and reporting and seamless integration with Microsoft Power BI
- Configure a rule-based flagging system to prioritize security events during an incident and address the most dangerous events first
Employee training
Commonly required security measures
Employee training
Syteca solutions
- Leverage recorded user sessions to craft learning materials for cybersecurity awareness training
- Showcase real-life security threats and attack scenarios to illustrate to employees how certain actions can lead to security incidents
- Demonstrate recordings of users who vigilantly follow established security procedures as an example of model behavior
- Increase user adherence to security policies by displaying warning messages upon policy violations
Industry recognition
FAQ
The law in the majority of countries doesn’t mandate that organizations carry cyber insurance yet. Rather, meeting cyber insurance requirements is a recommendation for businesses since it helps them protect the continuity of their operations.
All businesses, regardless of size or industry, can benefit from cyber insurance. Cyber attacks, such as ransomware, are quite common and can result in significant financial losses and legal penalties for businesses — not to mention reputational damage. Cyber insurance, in turn, can help organizations recover from cyber attacks.
To qualify for cyber insurance coverage, providers will require you to keep your organization’s cybersecurity risks at or below a specified acceptable threshold. You can meet cyber insurance requirements by implementing robust security measures, such as:
- Multi-factor authentication
- Privileged access management
- Endpoint detection and response (EDR/XDR)
- Privileged endpoint security
- Incident response
- Employee training
To properly prepare for your cyber insurance readiness assessment, you must assess your cybersecurity risks and eliminate detected security gaps. You should also develop an incident response plan, secure remote access, and improve your organization’s resilience.
Doing so can increase your chances of getting approved for coverage at a reasonable rate. Syteca can become a reliable assistant when preparing for a cyber insurance assessment. With our multi-factor authentication, privileged access management, user activity monitoring, and incident response functionalities, you can drastically lower your organization’s risk profile and qualify for a better policy.
Let’s get the conversation started
Contact our team to learn how our insider risk management software can safeguard your organization’s data from any risks caused by human factors. Book a call with us at a time that suits you best, and let’s explore how we can help you achieve your security goals.
