With cyber threats skyrocketing over the past few years, insurance companies have been increasing premiums and security demands for organizations seeking to obtain or maintain cyber liability coverage. Risk has increased for everyone meaning so has the cost to mitigate it.
Virtually all organizations were expecting their cyber liability insurance premium to increase a minimum of 50% – 100%. BlueOrange Compliance has been working with a Midwest organization to assess and provide on-going cyber security guidance including annual HIPAA Security Risk Assessments, regular vulnerability scanning and penetration testing. The combination of their strong internal security leadership, in collaboration with BlueOrange guidance, led to a highly unusual 20% reduction in premiums.
Following BlueOrange’s remediation plan along with a motivated internal team that takes action can significantly help improve your security posture to withstand even the highest level of scrutiny. We’re proud of such a positive outcome for our client and hope to see these results across the board!