Essential Cybersecurity Measures for Business Leaders

In today’s digital landscape, cyber threats are a growing concern for businesses of all sizes. From ransomware attacks to data breaches, the risks are real, and the consequences can be devastating—both financially and reputationally. At Spearpoint Insurance, we understand the critical role that robust cybersecurity measures and cyber liability insurance play in safeguarding your organization. Drawing from the latest 2025 Cybersecurity Underwriting Standards by RPS, this blog post outlines key cybersecurity controls that business leaders should implement and explains why cyber liability insurance is a vital component of your risk management strategy.

Must-Have Cybersecurity Controls

To meet minimum underwriting standards for cyber insurance and protect your business, the following controls are non-negotiable:

• Multi-Factor Authentication (MFA): Ensure MFA is enabled for all remote access, email, VPN, backups, and privileged accounts. MFA adds a critical layer of security by requiring multiple forms of verification, reducing the risk of unauthorized access.

• Data Backups: Maintain segmented, redundant, and offline backups with tested restoration protocols. Regular backups ensure your business can recover quickly from ransomware or data loss incidents.

• Incident Response Plan: Develop a written and tested plan that outlines roles, responsibilities, and communication protocols, including coordination with law enforcement and legal counsel. A well-prepared plan minimizes downtime and damage during a cyber incident.

• Employee Cybersecurity Awareness Training: Conduct annual training sessions, including phishing simulations, to equip employees to recognize and avoid common cyber threats.

• Endpoint Detection and Response (EDR): Deploy modern EDR or XDR solutions on all endpoints and servers to detect and respond to threats in real time.

• Wire Transfer Protocols: Implement dual authentication procedures to prevent losses from social engineering and wire fraud attempts.

These foundational controls not only enhance your organization’s security posture but also make your business more insurable, potentially leading to better pricing and coverage options.

Controls for More Favorable Insurance Outcomes

To further strengthen your cybersecurity and improve your insurability, consider adopting these advanced measures:

• Email Security Tools: Use advanced filtering and enforce DMARC, DKIM, and SPF policies to protect against phishing and email-based attacks.

• Patch Management Program: Document and apply patches promptly, especially for critical vulnerabilities, to keep systems secure.

• Network Segmentation: Separate backups, operational technology (OT) systems, and sensitive data from primary IT networks to limit the spread of an attack.

• End-of-Life Software Segregation: Isolate unsupported software from the primary network and develop a plan to decommission it.

• Security Information and Event Management (SIEM): Implement centralized logging and alerting to detect and respond to anomalous behavior quickly.

• Vendor Risk Management: Regularly assess and monitor third-party vendors’ access and cybersecurity controls to mitigate supply chain risks.

• Cybersecurity Insurance Application Accuracy Review: Conduct annual audits of your insurance application to ensure accuracy and avoid misrepresentation claims.

By implementing these controls, you demonstrate to insurers a proactive approach to cybersecurity, which can lead to more favorable policy terms and premiums.

Aspirational Controls for Maximum Protection

For businesses aiming to stand out to underwriters and achieve the highest level of cyber resilience, consider these aspirational controls:

• Zero Trust Architecture: Continuously authenticate users and devices based on context, ensuring no one is trusted by default.

• 24/7 Managed Detection and Response (MDR): Invest in an in-house or outsourced Security Operations Center (SOC) for real-time monitoring and rapid incident response.

• Tabletop Exercises with Executive Team: Conduct simulated cyber incident scenarios involving C-suite and legal teams to refine response strategies.

• Data Loss Prevention (DLP): Deploy tools to monitor, detect, and prevent unauthorized data exfiltration, safeguarding sensitive information.

Combining these advanced controls with the must-have and favorable measures creates a robust cybersecurity framework that minimizes risk and enhances insurability.

The Importance of Cyber Liability Insurance

Even with the best cybersecurity measures in place, no organization is immune to cyber threats. Cyber liability insurance is a critical safety net that helps businesses recover from the financial and operational impacts of a cyber incident. It can cover costs such as:

• Ransomware Payments and Recovery: Expenses related to restoring systems and data after a ransomware attack.

• Legal and Regulatory Fees: Costs associated with legal counsel, fines, and compliance with data breach notification laws.

• Public Relations and Crisis Management: Efforts to mitigate reputational damage and communicate with stakeholders.

• Business Interruption Losses: Compensation for lost revenue and operational downtime caused by a cyber incident.

At Spearpoint Insurance, we work with you to tailor cyber liability coverage to your organization’s unique needs. Many policies also include access to complimentary resources or discounted services, such as cybersecurity assessments or training programs, to further enhance your cyber hygiene. Contact your Spearpoint Insurance representative to explore these benefits and ensure your policy aligns with your risk management goals.

Take Action Today

Cybersecurity is not a one-time effort but an ongoing commitment to protecting your business. By implementing the controls outlined in the 2025 Cybersecurity Underwriting Standards and securing comprehensive cyber liability insurance, you can reduce your risk exposure and position your organization for long-term success.

Reach out to Spearpoint Insurance today to review your cybersecurity measures and explore how our cyber liability insurance solutions can safeguard your business. Together, we can build a resilient defense against the ever-evolving cyber threat landscape.

For more information on our services or to discuss your policy, contact your Spearpoint Insurance representative or visit our website.