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Compliance

Cyber Insurance in 2024: What Underwriters Now Require

A few years ago, cyber insurance was a quick checkbox. Today, insurers have been burned by ransomware payouts and have tightened up dramatically. If your controls are weak, you may be denied coverage, charged far more, or denied a claim after an incident.

What underwriters now require

  • MFA everywhere — especially email, remote access, and admin accounts. This is now table stakes.
  • Endpoint detection and response (EDR), not just basic antivirus.
  • Tested, offline/immutable backups you can actually restore from.
  • Security awareness training for staff.
  • A patching process and removal of end-of-life systems.
  • An incident response plan you can produce on request.

Why the questionnaire matters

The application asks detailed questions, and your answers become part of the contract. If you say you have MFA everywhere and you do not, a claim can be denied on that basis. Accuracy is not optional.

Turn the requirements into a roadmap

The good news: the controls insurers want are the same ones that actually reduce your risk. Techtrix helps clients meet them — and document them — as part of Compliance & Controls, so the renewal becomes straightforward instead of stressful.

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