Cybersecurity insurance companies recognize that identity security and 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 Solutions can help you qualify for cyber insurance and get the best rates, while drastically reducing your cyber risk. For example, 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 BeyondTrust technology is preferred by cyber insurers.

“BeyondTrust Endpoint Privilege Management really is a perfect solution. Not only does it implement least privilege, protect, and monitor our privileged accounts, it also allows us to maintain compliance with several regulations, which is hugely beneficial to us.”

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"We had some pressing customers who wanted higher security standards, and we started to move into more regulated environments, so we needed to tighten our posture particularly around system access and authorization."

Chad Erbe, Sr. Systems Engineer, ServiceNow

"The biggest thing that BeyondTrust enables for our team is the ability to connect any individual—whether it be a researcher or vendor—to any particular product at any time, through one system, and still enforce all of the security requirements that the university, state, and federal government have. "

—Michael E. Fox, Senior Associate Director, Texas A&M

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 context, 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 and non-human /machine identities and accounts across all endpoints (servers, desktops, IoT /OT, etc.), applications, and assets. This massively reduces the attack surface and protects organizations against fileless and zero days threats. In addition BeyondTrust provides a comprehensive, cohesive view of your identity security posture, so you can continuously right-size entitlements, privileges, and permissions, even as your dynamic environment changes.
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. In addition, BeyondTrust can alert on identity security misconfigurations--such as lack of MFA on a privileged account, so you can quickly address.

Meet Insurance Requirements with BeyondTrust

Evaluate your security controls through the lens of a cyber insurer, identify potential gaps, and more.

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, and network devices. This results in the industry’s most powerful solution for condensing attack surfaces and eliminating lateral movement.

BeyondTrust Password Safe enables automated discovery and onboarding of all privileged accounts, including service accounts, and other human/non-human accounts. The solutions secures access to privileged credentials (passwords, keys, DevOps secrets, etc.) and audits all privileged activity. In addition, the product's Workforce Passwords capability extends enterprise security capabilities to employee application passwords, further protecting the enterprise against identity-based attacks, while also improving the accountability and auditability controls that underwriters and regulators care about.

By implementing BeyondTrust Password Safe with Workforce Passwords, organizations can reduce the risk associated with password compromise—further making the enterprises more attractive candidates for cyber insurance coverage. This is in addition to the cyber insurance requirements Password Safe helps address around managing, securing, and auditing privileged accounts and credentials.

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 enables fine-grained access control and oversight no matter where a session begins or ends. Proxy access to the corporate network, infrastructure, applications, and other assets. BeyondTrust Privileged Remote Access applies least privilege and robust audit controls to all remote access required by employees and vendors, while BeyondTrust Remote Support supercharges security and support for the service desk.

These soluttions further improve identity security and satisfy cyber insurance requirements by layering on MFA, and vaulting and managing credentials used for remote access, injecting them directly into sessions without ever revealing them to an end user.

The combination of damage from ransomware attacks and ransom payouts have resulted in immense losses for cyber insurers. Ransomware is present today in more than 62% of all incidents committed by organized crime actors, and organizations reported an estimated mean cost to recover from ransomware attacks [in 2023] of $1.82 million.

The BeyondTrust 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, hardening remote access pathways, 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 ransomware.

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.

In addition, our Identity Security Insights product puts you in control of your identity attack surface, helping unleash PAM, CIEM, and IDTR capabilities. This enables you to continuously harden your identity security posture by identifying and mitigating risks such as lack of MFA, over-privileged accounts, nested permissions, accounts vulnerable to pass the hash or kerberoasting attacks, and much more. The product also rapidly detects password sprays, MFA fatigue attacks, and many threats that other solutions miss, providing you clear, context-based intelligence on why it matters and how to address it.

Zero trust architecture and security principles are recognized as an optimal approach to managing risk in a perimeterless world. Which is why it's no surprise that 66% organizations reported being in the process of implementing a zero trust solution, up from 54% in 2021.

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

Contact us to learn how BeyondTrust can assist on your journey towards cyber insurance qualification.

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