Effective vulnerability management is a critical component of cybersecurity strategies. It enables you to address vulnerabilities proactively, thereby reducing cyber risk and bolstering overall resilience. Nevertheless, unaddressed vulnerabilities remain a significant entry point into networks for threat actors. Despite this, many organizations still rely on periodic vulnerability scanning (i.e. monthly or quarterly) as part of their vulnerability management program, leaving them unaware that their systems contain exploitable vulnerabilities until their next scan is run.
Cyber threats evolve rapidly. Continuous monitoring and remediation are essential to prevent threat actors from exploiting these vulnerabilities between scans. By implementing a comprehensive
vulnerability management program—which involves continuous vulnerability scanning and ongoing, prioritized remediation—you can mitigate the persistent threat posed by vulnerabilities more effectively than periodic scanning.
In response to the evolving threat landscape, cyber insurance providers increasingly mandate proactive cybersecurity measures, including continuous vulnerability management. Integrating these proactive strategies not only strengthens defenses but also ensures alignment with insurance requirements, thereby enhancing eligibility for coverage and potentially lowering insurance costs.
Cyber Insurance Considerations
As insurers evaluate risk profiles, implementing a continuous vulnerability management program can provide significant benefits when seeking cyber insurance by demonstrating an organization’s resilience and risk consciousness. Insurers recognize and value these qualities, often offering discounts or incentives that result in better rates, reduced premiums, and/or lower deductibles. Here are some of the benefits:
- Enhances Resilience: Given that approximately 60% of incidents occur due to exploited vulnerabilities, effective vulnerability management can reduce the likelihood of cyber incidents.
- Reduces Risk Exposure: By proactively managing vulnerabilities, organizations can reduce their overall risk exposure, enhancing attractiveness to cyber insurance providers.
- Demonstrates Proactive Cybersecurity: Organizations that actively engage in vulnerability management practices signal a commitment to cybersecurity. Continuous vulnerability scans and prioritized remediation, including patch management, provide evidence of ongoing efforts.
We’re here to help. With our commitment to proactive cybersecurity measures, we can assist you in getting on the path to safeguarding your assets effectively, while reducing your cyber insurance costs. Contact us at IGIcybersecurity.com/contact to learn more
