It’s time to include Multi-Factor Authentication into your protection plan.
Many insurance carriers are starting to require strict safeguards that a company must have in place to even receive a quote on cyber insurance. One minimum requirement is Multi-Factor Authentication (MFA). Many carriers will consider it too risky to provide coverage if it’s not included in your network protection plan.
Here’s why you should consider MFA to protect your network.
- It’s a mechanism that adds an additional layer of protection to your network.
- It requires any user to provide multiple credentials to confirm his or her identity.
- Most carriers now want to see MFA being implemented to authenticate remote networks, administrative access, and remote access to email.
- Incorporating these controls will reduce the possibility of a network security breach by a compromised password, limit broader access to a hacked network, and lessens the potential for unauthorized access to company email accounts.
If you’re a small and/or medium-sized company MFA is a great way to reduce risk. Talk to your IT partners about how to implement MFA in your business to help ensure that your network stays safe and to qualify for cyber insurance coverage.
For any questions you have about cyber insurance coverage, please reach out to a Prewitt Group representative for additional information.