Delinea, a solution provider that seamlessly extends Privileged Access Management (PAM), has announced the publication of Conversational Cyber Insurance, a resource developed with Conversational Geek to help organisations navigate the evolving requirements for obtaining cyber insurance policies. The eBook is updated and expanded for 2023 with expert guidance from cyber insurance brokers.
Inside this newly updated and expanded version for 2023, readers may learn: how to prepare before applying for cyber insurance or renewing your policy; what cybersecurity technologies and processes you'll need to obtain or renew cyber insurance; how to read a cyber insurance policy quote to understand coverage categories and critical information such as limits and exclusions; questions insurers are sure to ask that influence your rates; and how Privileged Access Management helps you meet cyber insurance requirements.
In a November 2022 report on cyber insurance, nearly 80% of respondents to a Delinea survey revealed that they have had to use their cyber insurance policies, with more than half of them using it more than once.
However, cyber insurers are pulling back on covering what is most needed, such as ransomware, ransom negotiation, and the decision on ransom payment, even as 75% of respondents indicated that cyber insurance premiums increased in their last renewal.
“Conversational Cyber Insurance provides a detailed look at how cyber insurance and Privileged Access Management are intertwined, in addition to what cybersecurity technologies and processes any company will need to obtain or renew cyber insurance. It is a quick guide to cyber insurance that breaks down the choices and the processes for obtaining cyber insurance, and best practices to prepare before applying for or renewing policies,” informs Delinea.
“Cyber insurance is coming up in almost every conversation we are having with customers, prospects and partners as they look for guidance about how to navigate the application and renewal processes, and prove they have the right cybersecurity solutions in place to meet modern threats and reduce risk,” says Rick Hanson, President at Delinea.
“Privileged Access Management is critical to meeting increasing requirements and more rigorous processes, to demonstrate not only compliance but also that the organisation is prioritising identity and access controls for its most privileged accounts, devices and users. This eBook is an excellent starting point to help any organisation properly prepare to secure the cyber insurance policy they want at the right price.”
Readers of the complimentary report will also learn how to read a cyber insurance policy quote to understand coverage categories and critical information such as limits and exclusions and get the questions insurers are sure to ask that influence rates. It also provides critical insights into how PAM helps an organisation meet cyber insurance requirements.
“The Delinea Platform seamlessly extends PAM by providing authorisation for all identities, granting access to an organisation’s most critical hybrid cloud infrastructure and sensitive data to help reduce risk, ensure compliance and simplify security. Delinea removes complexity and defines the boundaries of access for thousands of customers worldwide. Our customers range from small businesses to the world's largest financial institutions, intelligence agencies and critical infrastructure companies,” notes Delinea.