Identity Under Siege: Why Attackers Are Targeting MFA Gaps and How to Respond
Cyberattacks are becoming more frequent and sophisticated, with identity as the main target for threat actors and ransomware as a service (RaaS) providers. A staggering 83% of organizations have experienced breaches involving compromised credentials, a clear indicator that identity-based attacks are becoming the go-to strategy for attackers. This alarming statistic forms the foundation of the […]
Much More Than a Checkbox: Cyber Insurance Can Stop Ransomware Attacks
Qualifying for a cyber insurance policy is just one more checkbox that security teams are required to tick. We’ve heard this statement over and over. For most organizations, this is the main reason to purchase cyber insurance. While this mindset is not entirely without grounds. It turns out that by implementing the identity protection controls […]
Need an Insurance Policy Against Ransomware Attacks? Get Silverfort’s Free Identity Security Assessment
Many organizations are struggling today with aligning their security controls with what underwriters now require in order to get cyber insurance coverage against ransomware attacks. From the identity protection perspective, even the initial discovery of MFA and administrative access gaps to address can be a severe challenge, due to a lack of tools that can […]
The Security Risks of Service Accounts: Why Cyber Insurance Underwriters Are Tightening Requirements
As ransomware attacks continue to skyrocket, both in frequency and intensity, underwriters of cyber insurance policies have been dramatically tightening their requirements in order to stem financial losses. Over the past three years, for example, the number of claims related to cyberattacks has doubled, with insurance companies posting a record-high 72% cyber loss ratio in […]
Cyber Insurance & MFA: 5 Things Every Broker Should Know
The surge in ransomware attacks has led leading underwriters to raise the bar for renewal or purchase of cyber insurance policies. Customers are now required to deploy various security measures – such as Multi-Factor Authentication (MFA). As a result, cyber insurance brokers – the ones that actually sell the policies– are tasked with finding an […]
Silverfort: Your One-Stop MFA Solution for Cyber Insurance Compliance
The past couple years have brought major changes to cyber insurance policies. Notably, almost all brokers are now requiring multi-factor authentication (MFA) across on-prem and cloud resources. This introduces a severe challenge to small and mid-sized organizations, since standard MFA solutions cannot deliver the required coverage and deploying a PAM solution is typically beyond the […]
How High Touch Technologies Renewed Their Cyber Insurance Policy
The massive spike in ransomware attacks in 2021 – up 105% worldwide, according to SonicWall – left cyber insurance companies facing an exponential increase in claims at the end of last year. In response, insurers tightened their requirements this year, releasing a long list of specific conditions companies now need to meet in order to […]
Cyber Insurance Win-Win: How Brokers Can Help Clients Comply
As cyberattacks continue to escalate in frequency and intensity, so do the stakes for both cyber insurance providers and their clients. To address this rapidly growing threat, brokers have raised the requirements that clients must now meet in order to acquire or renew a comprehensive policy. But these more stringent requirements are proving a challenge […]