Three years ago, Cyber Liability Insurance was easy to get. You checked a box saying "I have an antivirus," paid $500, and you were covered for $1 Million in ransomware damages.
Those days are over. Insurance carriers lost billions in payouts during the 2021-2023 ransomware wave. Now, they are auditing applicants rigorously.
The New "Minimum Standards"
If you answer "No" to any of the following, your application will likely be denied, or your premiums will triple.
- Multi-Factor Authentication (MFA): Must be enabled for Email, Remote Access (VPN/RDP), and Admin accounts. No exceptions.
- EDR (Endpoint Detection): Traditional antivirus detects 40% of threats. Carriers demand AI-driven EDR (like SentinelOne or CrowdStrike).
- Offline Backups: You must prove your backups are "Air-Gapped" or "Immutable" so hackers can't delete them.
- Patch Management: You must demonstrate a process for applying critical security updates within 14-30 days.
- Employee Training: Proof of phishing simulation training.
The "Post-Claim" Nightmare
Having the policy is one thing. Getting paid is another. If you get hacked, the insurance forensic team will look at your logs.
- Scenario: You told them you use MFA. The logs show the hacked account didn't have MFA enabled.
- Result: Claim Denied. Fraudulent application.
Our Role: The Pre-Audit
At ACE IT Solutions, we help clients prepare for renewal. We act as pre-auditors, reviewing your questionnaire and implementing the missing controls (MFA, EDR, Backups) before you submit the form.
Don't let a technicality void your payout. Ensure your security stack matches your insurance policy.
Ready to take the next step?
Cyber insurance is no longer a 'check the box' exercise. We can act as your technical auditors to ensure your security controls are fully compliant with your policy's fine print.