Page 83 - Cyber Defense eMagazine December 2022 Edition

How To Reduce Rising Cyber Insurance Costs When You

Have a Remote Workforce

By Raul Popa, CEO & Co-Founder, TypingDNA

Like other types of insurance, Cybersecurity Insurance protects businesses in case of a rainy day. But
as breaches become commonplace, insurers are running for shelter — becoming pickier about who they’ll
insure, and what premium they’ll charge based on perceived risk.

When it comes to cyber insurance… the name of the game is risk mitigation. Insurers reward companies
who take steps to mitigate risk and reduce the likelihood of payout for damages. On the flip side, many
insurance providers are increasing premium prices and turning away the most vulnerable prospects.

Similarly to driving a car. If you wreck it once, your premium will jump. If you wreck it repeatedly and don’t
take precautionary steps to mitigate risk, you’ll no longer be able to get insurance. In the long-term
though, this approach is actually a good thing for all parties involved. Businesses will take steps to be

Cyber Defense eMagazine – December 2022 Edition 83
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