5 Levers to Success with Cyber Insurance for MPSs

Cyber insurance policies and requirements are constantly evolving with the latest cyberthreats. Use these 5 levers as a lighthouse for your MSP to help you stay on track with every wave of change that comes your way in the world of cybersecurity.

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1 Salesperson/Owner Education

Your team members speaking with customers and prospects should be fully educated on cyber insurance. This ensures they’re appropriately encouraging customers to get the policies best suited for their business.

2 MSA Review

MSP owners should update their MSA to require their customers to have a cyber insurance policy in place. This ensures protection of both your customer and your MSP.

3 Proactive Application Review/Process

MSPs should document the details of a client’s cyber insurance policy(carrier, incident hotline, limits, renewal date, etc.) no later than 60 days from when the policy renews to avoid any potential last minute issues.

4 Cyber Security Assessment

Most MSPs perform a baseline assessment with new or potential clients. Including a cyber insurance questionnaire in the assessment can save you time and differentiate your business from other MSPs.

5 Partner with a Specialist

95% of insurance agents don’t know much about cyber liability, so it’s important you have a knowledgeable cyber specialist your team can rely on for insurance industry licensing and Errors & Omissions Insurance (E&O).

5 Levers to Success with Cyber Insurance for MPSs

1

Salesperson/Owner Education

2

MSA Review

3

Proactive Application Review/Process

4

Cyber Security Assessment

5

Partner with a Specialist

Written in partnership with Brian Mahon CCIC, CIC