According to the 2020 Hiscox Cyber Readiness Report, only 26% of organizations have a standalone cyber insurance policy but this number is expected to grow at a rapid pace as all industries trend towards a more digital environment. A large concern with any insurance engagement is the receipt of a payout should the worst occur. WOM Technology Management Group offers complete managed cyber insurance compliance services. Our team will work with your organization to ensure that your cyber insurance requirements are met and that claims will not be denied due to inadequate protections
Why is Cyber Insurance Compliance Important?
Cyber Insurance, like any other insurance, is meant to provide a guaranteed payout or assistance in the event of a negative occurrence. Unfortunately, most organizations fail to realize the critical impact that their own environment may have on the insurance payout. Just as an unlocked vehicle parked in a bad area may not be viable for a claim, your organization’s unprotected network could be at similar risk. Our team at WOM Technology Management Group specializes in managed security and IT services. We will work with your existing IT and Cybersecurity staff to augment their capabilities, providing essential cybersecurity services and consultation with the express goal of meeting your cyber insurance policy’s expectations. Our solutions also align with a huge array of pre-defined cybersecurity compliance frameworks, providing the appropriate resources where necessary to accomplish additional compliance while remaining conscious of cost and expectations. No matter the size of the organization, we can affordably help close the security and IT gaps for the policy utilized at your organization.
Reduce the Risk of Attack and Increase the Chance of Payout
The irony of managed cyber insurance compliance is the fact that our controls, solutions, and expertise will significantly reduce the chances of requiring a payout. When we work with your team to close network gaps and reduce risk, we will significantly reduce the chances of a successful cybercriminal incident. If something does slip through the cracks, the cyber insurance compliance service will provide validating documentation, reporting, and remediation assistance wherever needed. Our team can work with your insurance company to ensure proper evidence is provided.
Policy Term Compliance
We help your team determine the exact terms within your policy for insurance compliance and work to swiftly meet compliance expectations.
Reporting and Proof: Our team will provide constant reporting and updates, ensuring that your organization will have all the proof it needs regarding proper protection and compliance.
Don’t let the expense of cyber insurance be in vain. When a payout is needed, our team will provide whatever supplements are necessary to help your organization get the assistance it deserves.
Compliance is not a one-time event – these controls require management and dedicated cybersecurity professionals to ensure complete compliance. Our team will co-manage cybersecurity controls, develop appropriate governance, and provide reporting on your organization’s current compliance posture. These protection techniques will reduce the risks your organization faces and help protect against the need to file insurance claims.
Additional Compliance Frameworks
WOM Technology Management Group’s cyber insurance policy compliance service is just a small part of our available compliance packages. Schedule a meeting with a Cyber Risk Manager now.