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✳️ As a leader, do you think your information system is ready to pass the cyber insurers' test? ✳️

  • Writer: Vincent Pollet
    Vincent Pollet
  • Feb 6, 2025
  • 2 min read

It's a fact: today, if your IT system doesn't meet strict security criteria, you could simply be deemed "uninsurable for cyber risks." This raises two crucial questions:


1️⃣ What is the maturity level of your IT security? A cyber insurance application can become an unofficial audit of your system. Insurers require robust security measures before agreeing to cover risks. If you are uninsurable, it reveals weaknesses that can expose you to enormous risks.


2️⃣ Is your company ready to meet regulatory requirements? In certain sectors, strict regulatory requirements impose high levels of security (healthcare professionals, accountants, notaries, lawyers, etc.). Failure to comply could lead to major damages in the event of an incident.


Adding to this is a paradox: Insurers are struggling to sell their cyber insurance policies to SMEs because many applications are rejected due to insufficient security measures. Yet, these same companies have a crucial need for protection.


So how do we navigate these murky waters between insurers' demands and IT security?


Support from a Chief Information Officer (CIO) can make all the difference. A CIO will enable you to:

🛡️ Identify critical vulnerabilities in your system.

🛡️ Lead the implementation of measures to tick all the security boxes.

🛡️Meet the regulatory standards of your sector.


Failing to adequately secure your systems is not just an obstacle to obtaining cyber insurance: it is an existential risk for your business.


What insurers are specifically asking of companies:

Here are some concrete examples of the most frequent requirements:

👉 A security incident management plan.

👉 Implementation of regular and secure backups.

👉 Protection of sensitive access points.

👉 Cybersecurity training for employees.

👉 Regular vulnerability testing.


Leaders, insurers: would you be willing to collaborate with a CIO to meet these challenges and ensure the security of your systems while making your companies insurable?



 
 
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