Cyberattacks are no longer something that only happens to large enterprises. Healthcare systems, public institutions, educational organizations, and small businesses have all experienced significant incidents in Canada over the past few years. Several of our own clients have dealt with attacks that resulted in real financial losses.
Cyber security insurance is one of the most practical steps an organization can take to protect itself, and a Microsoft 365 Assessment is one of the most direct ways to meet the requirements insurers are asking about.
The Role of Cyber Security Insurance
Cyber security insurance provides financial protection and expert support following a cyber incident. It can cover business interruption costs, data recovery expenses, legal liability, and reputational damage. Beyond the payout, it signals to clients and partners that your organization takes data protection seriously.
Regroove developed our Microsoft 365 Assessment service based directly on the questions clients were struggling to answer during insurance applications. It functions like your Microsoft tenancy's annual physical, with two objectives: protecting your corporate data and demonstrating a documented commitment to cyber security.
What Insurance Applications Ask About
Cyber security insurance applications tend to ask the same types of questions. Here is how a Microsoft 365 Assessment addresses each of them.
- What cyber security measures protect sensitive data? The assessment evaluates multifactor authentication strength, user access levels, and device management, giving you a comprehensive picture of your current protections.
- How is sensitive data protected? We review sensitivity and retention labels, email security policies, and data restriction capabilities, including controls that prevent sensitive information from leaving the organization.
- Have you experienced past security incidents? The assessment includes analysis of your attempted access records, covering phishing attempts, malware, and malicious login attempts with dates and IP addresses. Email filtering effectiveness is evaluated and improvement recommendations are provided.
- What improvements are you making? Quarterly Microsoft 365 Assessments create a documented paper trail that demonstrates ongoing effort to strengthen your cloud security posture.
Do Not Wait Until It Is Too Late
Cyber security insurance is both a financial safeguard and a strategic business investment. Organizations that go through the assessment process come out of it with stronger security and better documentation, regardless of whether they ultimately purchase insurance.
If you have been considering cyber insurance or have already started an application and found the questions difficult to answer, reach out to us. The assessment is designed exactly for that situation.