In an increasingly digital workforce, cyber insurance has become essential for small and mid-sized businesses. It’s a critical safety net against the rising costs of cyberattacks, data breaches, and ransomware. A single incident can bring operations to a halt and rack up tens or even hundreds of thousands in recovery costs. Cyber insurance can be the difference between recovering from an attack and shutting your doors.
The requirements to get insured, however, keep rising as the risks of attack do. Insurers won’t issue a policy if you aren’t taking security seriously. To qualify, and to keep your premiums affordable, you’ll need to prove your business has core protections in place. At a bare minimum, most insurers now require:
- Multi-Factor Authentication (MFA): Enabled for email, remote access, and critical business apps.
- Regular Backups: Following the 3-2-1 rule — three copies, two different media, one offsite or cloud — and tested regularly.
- Endpoint Protection: Modern antivirus and endpoint detection tools on every device.
- Patch Management: Documented, consistent processes to keep systems current with security updates.
- Incident Response Plan: A written, tested playbook for how you’ll respond if an attack happens.
When these controls are in place, you have a better chance of getting coverage and paying a lower premium. Much like auto insurance, the stronger your safety record, the lower your costs.
Get Cyber Insurance Ready
At ISM, we help businesses strengthen their cybersecurity so they stay protected, compliant, and fully insurable in today’s digital workforce.
👉 Schedule a free consultation with ISM today. We’ll review your readiness, close the gaps, and help you qualify for cyber insurance, without the last-minute scramble.
