Cyber Insurance Checklist: 12 Essential Security Controls
Sharp increases in ransomware and other malicious cyberattacks are leading more companies to consider purchasing
cyber insurance. Forced to pay out larger and more frequent claims, insurers are hiking premiums while also
being more selective about who they will cover. Underwriters now commonly require organizations todocument their cybersecurity practices in order to qualify for coverage. Most want to see that the following 12security controls are in place:

1. Multifactor authentication (MFA)
Ransomware and other attacks frequently exploit weak or stolen passwords to infiltrate systems. MFA reduces the risk
by requiring a combination of verification factors such as a password or PIN along with a security token, mobile app or abiometric identifier. It’s almost impossible to get cyber insurance without MFA.

2. Endpoint detection and response
Endpoint devices such as laptops, tablets and mobile phones are enticing targets because they provide a direct route into
corporate networks. Unlike traditional signature-based threat detection tools, EDR solutions use machine learning (ML)and continuous monitoring to identify stealthy threats that lack the usual signs of an infection.

3. Secure backups
Many ransomware attacks now target backup data to prevent recovery. Immutable backups that cannot be encrypted,
deleted or otherwise modified ensure you have an untouched version of data that is always recoverable. For additional
protection, the immutable backup should be isolated from local systems.

4. Secure remote access
Remote desktop protocol (RDP) enables users to access company resources from a home PC using an Internet
connection, but it has known vulnerabilities. Apply encryption, MFA and other security features to mitigate risk. Inaddition, block all remote access ports at the firewall or network gateway unless there is a valid business reason forhaving them open.

5. Vulnerability and patch management
A vulnerability and patch management plan should include a risk-based approach for identifying, prioritizing, patching andtesting software and operating systems. This significantly helps limit exposure to ransomware and other exploits.

6. Network access controls
Enforce least privilege access principles to ensure users are limited to only the data and systems access necessary for
their jobs. Identity and access management (IAM) and privileged access management (PAM) solutions deliver strong
access controls. IAM solutions provide a framework for verifying user identities, while PAM delivers more control overprivileged identities and activities.

Measured Analytics and Insurance
801.877.9333 | measuredinsurance.com

7. Incident response planning
A formal incident response plan should outline specific procedures for detecting, responding to and recovering from acyberattack. The plan should describe technical requirements for containing and eradicating threats aswell as business requirements for maintaining operations.

8. Cybersecurity awareness training
Regular security awareness training promotes general security best practices and an understanding of social engineeringand phishing techniques. Users who can spot the telltale signs of an attack can preemptively thwart many attacks.

9. Monitor event logs
Enable security event logging for all systems, software and endpoint devices, and actively review and analyze those logs
to detect attacks and launch countermeasures.

10. Secure/replace end-of-life systems
Hackers commonly target applications and systems that have reached end-of-support or end-of-life because they know
security issues are no longer being addressed. Companies with outdated systems and no plan for upgrades are viewed aspoor risks by most insurance underwriters.

11. Manage supply chain risk
Supply chain attacks allow cybercriminals to distribute malware to mass numbers of victims simultaneously.
Organizations should evaluate their suppliers’ security practices and incorporate specific security requirements into
their contracts.

12. Filter content
Content filtering solutions scan web applications, identify malware signatures and examine text and email messages toprotect against data leakage.

Measured Analytics and Insurance
801.877.9333 | measuredinsurance.com