Cyber risk is simplified when you manage security and insurance holistically
Introduction:
This client in the food manufacturing industry was just beginning to make the necessary investments in their cybersecurity efforts. They were also interested in implementing a basic risk transfer solution. Despite a willingness from the client to improve their cybersecurity posture, no markets were willing to quote the account.
Problem:
Without any pre-existing security controls or insurance history, this client could not find insurance in the open market. Before declining to take on the account for lack of controls, Resilience worked with the broker to understand the client’s specific needs and understand their end goals for maturing their cybersecurity program. They had all the right ideas; they just needed guidance. . They signed up for our Cyber Primary Care solution for a more in-depth engagement with our experts.
Solution
The client was willing to begin with a more tailored policy at a reasonable premium while working closely with the Resilience security operations team to implement an actionable cyber hygiene plan designed to achieve their security goals and improve their coverage. We helped Identify and deploy MFA, EDR, and backup solutions, as well as segment IT and OT networks and secure email systems.
Result
The client’s CEO and board worked closely with our security team to implement the necessary security controls to unlock full coverage upon renewal. They engaged in quarterly meetings, and upon renewal, the client qualified for reasonable coverage, ransomware protection, and high sub-limits. They renewed their Cyber Primary Care engagement and remain cyber resilient today.
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