Every organization taking out or renewing a cyber insurance policy will be asked to detail the security protections they currently have in place. This enables the underwriter to determine the level of risk to the business and the likelihood that a claim might be made.
Is email security software mandatory for getting cyber insurance?
Not having certain protections can increase the premium an organization is expected to pay or the policy they’re able to take out. Added to this, we’re currently seeing a hardening of the cyber insurance market that’s making it more difficult for organizations to purchase the necessary level of cover they need and at the same time, the costs associated with cyberattacks and data breaches continue to rise.
Email security is a key element of a cyber insurance review. As phishing is a primary attack vector, insurers will typically want to know what technical controls, policies, and training programs are in place to reduce the risk of email-borne threats, including malware attachments, malicious links to phishing websites, and the social engineering attacks that lead to financial fraud.
How Egress Defend can help
Part of our intelligent cloud email security platform, Egress Defend protects against advanced phishing attacks. Integrating seamlessly into Microsoft 365, Defend augments Microsoft’s security by detecting and neutralizing the sophisticated threats that evade its native controls. This includes attacks from compromised accounts, sophisticated impersonation attempts, payloadless attacks, and heterogenous attacks.
Defend uses a combination of intelligent technologies, including machine learning, social graph, and natural language processing as part of its detection capabilities. This enables the software to learn email behavior patterns to protect against social engineering. Additionally, its self-learning technology enables it to detect emerging threats, while minimizing administration overhead.
Crucially, Defend also improves employees’ security awareness through real-time teachable moments. Contextual, color-coded warning banners are embedded into emails, dynamically signaling the level of risk. User friction is only introduced when someone is about to fall victim to a phishing attack, with awareness training reinforced by clear explanations of in-the-moment risk.
Prove to insurers you’re protected against advanced threats
By deploying Defend, not only do organizations detect and neutralize more phishing attacks than when using native security controls alone, they’re able to stop the highly convincing, and more damaging, threats that users fall victim to.
The volume and sophistication of phishing attacks continues to increase every year – so not only could intelligent email security help your organization comply with cyber insurance requirements, it’s also mission critical to protect your people and operations, and remain cyber resilient.