How Does PAM Assist in Hiring Cyber Insurance?

Organizations are increasingly exposed to cyber threats, which justifies hiring insurance to cover losses related to hacker attacks, incidents, and human failures.

Nevertheless, ensuring this additional protection can be a major challenge, as insurers require companies to take useful measures for cybersecurity, making it infeasible to hire insurance or increasing the costs of this process.

An excellent solution for these cases is senhasegura PAM, which can provide more security to your IT structure and, consequently, facilitate negotiation with insurers. Check below how this is possible.

Make it Possible to Hire Cyber Insurance with senhasegura PAM

According to the Verizon Data Breach Investigation Report 2021, 61% of cyberattacks involve privileged credentials. In addition, the abuse of privilege has caused 70% of the attacks. 

Therefore, when hiring cyber insurance, it is important to show your credentials are protected by senhasegura PAM, which has the following features:

1. Audit of Accesses Performed 

The audit of functions performed by human users or machines assures that the actions have been, are, and will be performed properly, according to the organization’s security policy, facilitating the acceptance of insurers.

For this, in addition to ensuring the traceability of the actions taken, the audit allows the organization to manage the use of a privileged credential after access. 

2. senhasegura Domum 

Indiscriminate access by third parties and remote users to IT infrastructure can also be considered by insurers when stipulating the values of (and even when hiring) cyber insurance, as it increases the attack surface exploited by malicious agents.

However, with senhasegura Domum, one can strengthen security aspects exploited by invaders, promoting secure remote access to privileged credentials.

3. Remote Session Recording 

If you wish to hire cyber insurance, we also recommend monitoring privileged session activities, which helps prevent the misuse of privileges, as well as identifying malicious activities and facilitating the incident investigation process, providing the assurance that accounts are not compromised.

4. Multi-Level Approval Workflows 

This senhasegura PAM capability allows one to increase control over privileged account credentials, requiring approvals to grant these accesses.

In practice, approval workflows are configured at various levels, which ensure access review and approval, while an audit trail records who requested this access, who authorized it, and why they are needed for the business.

5. Data Theft Prevention 

Exposure to data theft is another factor that prevents insurers from accepting a company as an insured party. 

However, senhasegura PAM assesses which data needs greater protection, limits access to sensitive information, reinforces internal and external controls for data privacy, and uses strong passwords to protect IT devices, eliminating this objection. 

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In this article, you saw how senhasegura PAM can contribute when hiring cyber insurance. If you are interested in this solution, please contact us by clicking here.