Arctic Wolf announces cyber insurance readiness tool to help organizations manage their security posture

At RSA Conference 2022, Arctic Wolf released enhanced tools and programs advancing Tetra Defense’s MyCyber platform, designed to help businesses more effectively build business resilience as well as address the evolving demands of insurance carriers.

Organizations have an increased understanding of the importance of creating business resilience and reducing cyber risk, but as ransomware, business email compromise, and supply chain attacks dominate the headlines, cyber insurance carriers are setting higher standards for insurability. Among respondents to a recent survey, only 61% said their organization has some type of cyber coverage today.

As a leading incident response (IR) provider, Tetra Defense, an Arctic Wolf company, is a trusted partner to many within the insurance community and has seen firsthand the challenges organizations face in reducing cyber risk to become more insurable as brokers and carriers set new standards and requirements. To address this evolving market, Tetra Defense has developed MyCyber, a web platform, to deliver a tailored benchmark framework for vulnerability and insurability assessments.

The advancements to the MyCyber platform announced are designed to establish a baseline of key security controls necessary for proper cyber hygiene for businesses seeking insurance. Unifying and contextualizing cyber insurance requirements will empower organizations to more effectively enforce security hygiene and dynamically manage their security posture, while maintaining insurability over time. In turn, the MyCyber platform provides insurers and brokers a holistic view of client risks and enables them to establish more accurate risk-assessments.

“In this challenging threat landscape, defining insurability has become a moving target,” said David Anderson, US Head of Cyber at McGill and Partners, a leading cyber insurance firm. “Being able to provide businesses with security task guidance and imminent threat scanning necessary to make effective changes to their security posture and ultimately help businesses work towards becoming more insurable, less risky clients, is a much-needed bridge between cyber insurance carriers and the businesses they insure.”

Presently, MyCyber is available to insurance carriers and brokers, as they partner with customers looking to elevate their insurability and reduce cyber risk. With today’s announcement, Arctic Wolf introduces advancements to MyCyber that build upon the company’s ongoing commitment to help organizations advance business resilience through an innovative approach to security operations.

Additional business resilience tools and programs offered by Arctic Wolf include:

• Arctic Wolf security journey: An innovative program that guides Arctic Wolf customers through the NIST Cybersecurity Framework by combining data and insights from the Arctic Wolf Security Operations Cloud with security operations expertise from Arctic Wolf’s Concierge Delivery model. The program enables customers to center their efforts on a growing number of cybersecurity focus areas, such as cloud security or compliance, executing on customized roadmaps to help systematically reduce cyber risk exposure.
• Arctic Wolf security operations warranty: Available at no additional cost, qualifying Arctic Wolf customers are eligible to receive a $1 million service warranty benefit to support their recovery activities, legal and regulatory expenses, and other associated business costs in the event of certain successful cyber attacks.
• Discounted cyber insurance premiums: The Arctic Wolf Security Operations Cloud helps enable effective security outcomes, which often allows Arctic Wolf customers to receive discounted rates at select cyber insurance carriers.

“Since our founding, Arctic Wolf has been focused on not just addressing threats for customers but partnering with them on their security journey to enhance their security posture and help them become more secure over time,” said Scott Holewinski, senior vice president and general manager, Incident Response, Arctic Wolf. “With this announcement, Arctic Wolf extends its position as a leading cybersecurity company that focuses on not only delivering innovative new solutions, but also unique customer benefits that can build resilience, increase insurability, and further our mission to end cyber risk.”