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September 23, 2022

Cyber Insurers Clamp Down on Clients' Self-Attestation of Security Controls

After one company suffered a breach that could have been headed off by the MFA it claimed to have, insurers are looking to confirm claimed cybersecurity measures.

A voided lawsuit from a cyber insurance carrier claiming its customer misled it on its insurance application could potentially pave the way to change how underwriters evaluate self-attestation claims on insurance applications.

The case - Travelers Property Casualty Company of America v. International Control Services Inc. (ICS) - hinged on ICS claiming it had multifactor authentication (MFA) in place when the electronics manufacturer applied for a policy. In May the company experienced a ransomware attack. Forensics investigators determined there was no MFA in place, so Travelers asserted it should not be liable for the claim.

Ask a Continuums Representative about reviewing your cyber resiliency of the people and technology in your cybersecurity posture, strategies and culture to qualify for cyber insurance. Invest in protecting and securing your virtual enterprise in 2022 while preparing for 2023.

For a link to this Dark Reading Article, Click To Review








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