The cyber risk environment is ever-changing. It is critical to have proper cyber security controls and comprehensive coverage to protect your insureds. With exponentially increasing claims, including those stemming from ransomware attacks, cyber carriers must meet minimum security standards before offering insurance coverage.
Multi-factor authentication (MFA) is a security technology that requires multiple methods of authentication such as independent categories of credentials to verify a user’s identity for a login or other transaction. MFA is vital to lowering the risk of a successful ransomware attack. According to a study conducted by Microsoft in 2022, “MFA could have helped prevent 99.9% of account compromise attacks.”
Synapse Specialty has partnered with a leading cybersecurity specialist to assist clients with MFA implementation services for Office 365 or G Suite.
This service is available to all Synapse Specialty cyber clients and includes the following:
- Initial setup of MFA using DUO
- Initial policies configured
- Client admin access to their own DUO portal
- Instructions and training for the end user base
- Report of activations
The cost of this service is included in premiums paid by the insured.
Assumptions
- Insured must use Office 365 or G-Suite
- Optistar will need global admin access to Office 365 or G-suite for initial setup, and end users will be required to use the Duo Mobile smartphone app
- The client will be responsible for future policy changes after delivery of the default MFA policy
- Insured will be responsible for the ongoing MFA DUO license fee
- Additional cyber security offerings are available at the insured’s expense
