Qualify for Cyber Insurance and Reduce Cyber Risk

Cybersecurity insurance companies recognize that privileged access management (PAM) controls are foundational security in every organization, prevent many cyberattacks outright, and significantly minimize the damage of any potential breach.

BeyondTrust Privileged Access Management can help you qualify for cyber insurance and get the best rates, while drastically reducing your cyber risk. PAM solutions provide must-have capabilities, including least privilege enforcement, privileged account and credential management, and remote access security—all common criteria for cyber insurance approval.

Need to prevent attacks outright and greatly reduce the damage caused by a potential breach? See why our Privileged Access Management technology is preferred by cyber insurers.

What is Cyber Insurance?

Cyber insurance (also referred to as cyber liability insurance or data breach insurance) provides insurance coverage for events including data breaches, downtimes, and cyberattacks. Cyberattacks may include malware, ransomware, phishing, DDoS, hacking, insider threats, and more. Offerings and coverage will vary depending on the policy issuer.

Cyber insurance brokerages and underwriters recognize that privileged access management tools significantly reduce risk and liability from external and internal threat actors.

BeyondTrust Privileged Access Management can help you qualify for cyber insurance and get the best rates, while drastically reducing your cyber risk. BeyondTrust solutions protect privileges across all assets, including on-premises, multicloud, endpoints, and vendors.

Use BeyondTrust PAM to:

Free Cyber Insurance Checklist

Cyber threats and ransomware attacks are forcing cyber insurers to establish stricter requirements for policyholders. Use this checklist for guidance.

Selected Cyber Insurance Eligibility Questions

Cyber insurer approval hinges on your ability to answer questions about the capabilities of your current security posture. In some instances, insurers may request further proof that the controls are in place. Here are some examples of insurance eligibility questions that BeyondTrust Privilege Access Management can help you answer affirmatively.

Common Cybersecurity Insurance Requirements: With BeyondTrust You Can Answer:
Have local admin rights on user's laptops/desktops been removed?
  • ✓ Yes.
  • BeyondTrust removes all admin rights and elevates access as needed to applications based on the proper content, and only for the duration needed. This is one of the most powerful ways to reduce the attack surface and defend against both external and internal threats.
Can you confirm human and non-human accounts always abide by least privilege?
  • ✓ Yes.
  • Enforce least privilege and application control across all human/non-human identities and accounts across any time of endpoint or other asset. This massively reduces the attack surface and protects organizations against fileless threats and zero days.
Do you have protections in place to protect remote access to the corporate network?
  • ✓ Yes.
  • Proxies access to corporate network, applications, assets, and makes all connections outbound—no VPN needed. BeyondTrust monitors and manages all privileged remote sessions from vendors and employees and vaults credentials, auto-injecting into sessions without revealing to end users.
Do you manage privileged accounts using tooling/software solutions?
  • ✓ Yes.
  • PAM software is the solution class designed to fulfill this need. PAM solutions can manage every privileged user, session, and asset across the enterprise—whether cloud, on-premises, or in a hybrid environment.
Do you use multi-factor authentication for remote network access originating from outside your network by employees and third parties (e.g. VPN, remote desktop)?
  • ✓ Yes.
  • Provides built-in multi-factor authentication for remote access, as well as the ability to seamlessly integrate with third-party MFA tools. MFA provides an extra layer to ensure that access is only given to the right identity.

Enforce Least Privilege

Two basic requirements of many cyber insurers include removing admin rights for users and enforcing the principle of least privilege (PoLP) across the enterprise. These foundational controls are highly effective at reducing cyber risk against a broad array of attack vectors.

BeyondTrust Endpoint Privilege Management combines privilege management and application control to efficiently manage admin rights on Windows, Mac, Unix, Linux, and network devices. This results in the industry’s most powerful solution for condensing attack surfaces and eliminating lateral movement.

Manage Human and Machine Credentials

According to Forrester Research, compromised privileged credentials are implicated in roughly 80% of breaches.

BeyondTrust Privileged Password Management solutions enable automated discovery and onboarding of all privileged accounts, including service accounts, and other human/non-human accounts. Additionally, BeyondTrust secure access to privileged credentials (passwords, keys, DevOps secrets, etc.) and provide audits of all privileged activity.

Secure Remote Access

The sharp increases in remote working and digital transformation greatly expanded the attack surface. Many threat reports show that ransomware operators exploit RDP exposed to the internet. This allows them to gain a foothold within the victim's environment, and is reported in about 50% of successful attacks. Cyber insurers have reacted by requiring strong remote access security controls, including multi-factor authentication.

BeyondTrust Secure Remote Access applies least privilege and robust audit controls to all remote access required by employees, vendors, and service desks. BeyondTrust has the only Secure Remote Access solution that meets the rigorous requirements of FIPS 140-2 Level 1.

As a result, cyber insurers, government agencies, and other organizations rely on BeyondTrust to solve today's challenging security and access requirements.

Defend Against Ransomware and Malware

The combination of damage from ransomware attacks and ransom payouts have resulted in immense losses for cyber insurers.

The BeyondTrust Privileged Access Management platform is a powerful, blended ransomware defense that makes your organization inhospitable to ransomware and other threats. BeyondTrust solutions break the ransomware attack chain by securing privileged access and credentials, enforcing least privilege, and protecting against tricky fileless threats.

In addition, BeyondTrust capabilities address multiple criteria in the Ransomware Supplemental Addendum / Application, which some cyber insurers now offer for coverage specific to ransowmare.

Gain Visibility and Oversight

Having continuous visibility into your environment and the ability to identify and rapidly address potentially harmful activity is a critical attribute of risk management. Insurance eligibility and payouts often hinge on the ability to prove cybersecurity controls and the possession of a clean audit trail of activity.

BeyondTrust solutions provide robust privileged session monitoring and management. Capabilities like screen recording, keystroke logging, and the ability to pause or terminate a suspicious session satisfy common auditor requirements.

Achieve a Zero Trust Security Stance

Zero trust architecture and security principles are recognized as an optimal approach to managing risk in a perimeterless world.

BeyondTrust Privileged Access Management delivers identity-centric security against both external and internal threats and stands at the core of any zero trust strategy.

Contact us to learn about BeyondTrust for Cyber Insurance

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