3 Ways
MSPs Can Ease The Cyber Insurance Burden For Their Customers tunity to improve their own IT environment and use their expertise to provide additional security and compliance services for their clients . As part of this work , MSPs should be investing in solutions that automate crucial tasks like vulnerability scanning and compliance documentation that are critical for cyber insurance policies . As cyber insurance regulations continue to evolve , MSPs that do not prioritize automated solutions will find themselves bogged down in manual tasks that take away from growing their businesses .
While getting and maintaining cyber insurance coverage will continue to be a challenge for MSPs in 2022 , there are additional options for those that are either unable to be insured or cannot get the level of coverage needed . Providers have begun to offer service guarantees to MSPs , which provide warranty coverage for those that proactively prove they have implemented the necessary controls . While these service guarantees are not considered traditional insurance coverage , they have been shown to drive behavior change , provide needed protection against cyberattacks , and minimize the financial impact of an event if it occurs . These types of service guarantees can also help MSPs improve their insurability with traditional carriers as well .
No MSP likes to imagine that they will be the next victim of an attack . However , it is likely that cybercrime will impact them in some form over the next few years . MSPs need to proactively work to secure their environments — and those of their clients — and closely follow the controls of their cyber insurance or service assurance provider to ensure they will receive the cyber insurance payout their business will need to overcome a cyberattack . Planning for the worst may not be the most optimistic way to head into 2022 , but it will set MSPs on a path to success for the next year and beyond .
Max Pruger , GM , Compliance Manager At Kaseya
Kirsten Bay , CEO At Cysurance
For additional insights on obtaining cyber insurance and service guarantees , visit Cysurance . com . For more information on how your MSP can achieve continuous compliance with its cyber insurance policies , visit Kaseya . com . n
As an MSP owner , it can feel like a daunting task to stay on top of your own organization ’ s cyber insurance controls — even with a deep knowledge of the IT landscape . MSPs have a great opportunity to help their clients , especially those without deep technical expertise , navigate the complexities of cyber insurance in a few key ways :
1
Compliance Assessment Services : Your customers cannot address their compliance issues if they do not understand their IT environment . By providing compliance assessment services , you can help them find the gaps and put a plan in place to address them .
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Remediation Services : Once gaps are identified , your MSP can offer remediation services to secure clients against attacks and ensure they are meeting their cyber insurance controls .
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Compliance-Specific Documentation : Documentation can be intimidating , but it doesn ’ t have to be ! By providing policyspecific documentation through an automated compliance solution , you can free your clients from hours of work — and increase your profit margins at the same time .