Cyber Insurance Assessment

Cyber Insurance Assesment

Insurers will often ask for a detailed understanding of your organization's technical infrastructure and cybersecurity measures. This helps them assess the risk and determine appropriate coverage and premiums. Below is a list of the technical details you’ll need to provide to get cyber insurance:

1. Network Security:

• Firewall configuration and management: Details of firewall settings, types, and how they're monitored.
• Intrusion Detection/Prevention Systems (IDS/IPS): Description of IDS/IPS solutions in place to detect and prevent unauthorized access or threats.
• Network segmentation: Explanation of how your internal network is segmented (e.g., separating sensitive data from other systems).
• Virtual Private Network (VPN) usage: Whether your organization uses VPNs for secure remote access, and how they're configured.

2. Endpoint Protection:

• Antivirus/Antimalware software: Details of endpoint protection solutions used on computers, servers, and mobile devices.
• Endpoint Detection and Response (EDR): Tools in place to continuously monitor and respond to suspicious activities on endpoints.
• Device management: Whether mobile devices and employee laptops/desktops are managed and monitored for security (e.g., MDM, mobile device management).

3. Authentication and Access Control:

• Multi-factor authentication (MFA): How MFA is implemented across critical systems and applications, and whether it's mandatory for all users.
• Identity and Access Management (IAM): Tools or policies used to manage user identities and control access (e.g., Active Directory, role-based access control).
• Password policies: Details on password complexity, expiration, and other controls (e.g., use of password managers, prohibiting password reuse).

4. Data Protection and Encryption:

• Data encryption (at rest and in transit): Overview of how data is encrypted both when stored and when transmitted (e.g., using SSL/TLS, AES).
• Backup and recovery systems: Information on your backup strategy, including frequency, encryption of backup data, and whether backups are stored offline or in a secure cloud environment.
• Data loss prevention (DLP) systems: Tools used to prevent unauthorized access, leakage, or loss of sensitive data.

5. Vulnerability Management:

• Patch management process: How your organization handles patching for software, hardware, and operating systems to fix known vulnerabilities.
• Vulnerability scanning tools: Details on any regular vulnerability scans or penetration tests, and how vulnerabilities are tracked and remediated.
• Security patching cadence: How quickly patches are applied (e.g., within 30 days of release).

6. Incident Detection and Response:

• Security Information and Event Management (SIEM): Use of SIEM tools to collect, monitor, and analyze security-related data for signs of incidents.
• Incident response plan (IRP): A documented plan for how to respond to a cybersecurity incident, including team roles, notification procedures, and recovery plans.
• Threat hunting: Whether proactive threat hunting is done to identify potential threats before they cause harm.

7. Cloud Security:

• Cloud service providers (CSPs): Details about the cloud platforms you use (e.g., AWS, Azure, Google Cloud), including their security controls and shared responsibility models.
• Cloud access security broker (CASB): Whether you use CASB solutions to monitor and enforce security policies on cloud-based applications.
• Data residency and compliance: Information on where your cloud data is stored (data center locations) and compliance with regulations like GDPR or HIPAA.

8. Application Security:

• Web application firewalls (WAF): Usage of WAFs to protect web-facing applications from common threats (e.g., SQL injection, cross-site scripting).
• Software Development Life Cycle (SDLC) security practices: Whether secure coding practices are in place, such as code reviews, static analysis tools, or use of a bug bounty program.
• Application vulnerability testing: Use of automated application security testing tools (e.g., OWASP ZAP, Burp Suite) for identifying security flaws.

9. Endpoint and Device Management:

• Mobile Device Management (MDM): Whether MDM solutions are in place to manage and secure employee mobile devices, including enforcement of encryption, password policies, and remote wipe capabilities.
• USB port control: Whether the use of USB drives or other external devices is restricted or monitored on endpoints.

10. Third-Party and Vendor Security:

• Third-party risk management: Whether third-party vendors undergo security assessments and whether their cybersecurity posture is monitored (e.g., regular audits or SOC 2 reports).
• Contractual agreements with vendors: Details of any security clauses in third-party contracts, such as breach notification requirements, data handling, and compliance.

11. Security Monitoring and Logging:

• Log management practices: How logs are collected, stored, and analyzed for signs of suspicious activity (including retention periods and encryption).
• 24/7 security monitoring: Whether you have around-the-clock monitoring for critical systems, either in-house or through a managed service provider (MSSP).
• Real-time alerts and escalation procedures: How alerts are configured for critical events and how they are escalated for resolution.

12. Compliance & Regulatory Requirements:

• Compliance with security standards: Information on adherence to industry-specific security standards and frameworks, such as PCI-DSS, HIPAA, ISO 27001, NIST, or GDPR.
• Audit trails: Availability of audit logs for tracking user activity, system changes, and access to sensitive data for regulatory compliance.

13. Penetration Testing:

• Penetration testing reports: Whether regular penetration testing is conducted, the scope of testing (internal/external), and any remediation steps taken.
• Red team/blue team exercises: If applicable, whether red team exercises (offensive security testing) or blue team exercises (defensive) are performed to identify vulnerabilities and improve defenses.

14. Business Continuity & Disaster Recovery:

• Disaster recovery (DR) plans: Documentation of DR procedures, including recovery time objectives (RTOs), recovery point objectives (RPOs), and the specific systems and data that need to be restored.
• Business continuity planning (BCP): How your organization plans to continue operations in the event of a cyberattack or data breach.