This document is for informational purposes only! River Run has provided you with this checklist to assist you in your review and discussions wih your insurance company and broker regarding cyber security insurance. Due to the ever-changing cyber security and insurance needs, this checklist is not intended to be considered a complete list. For additional background information, please read the article, "Cyber Insurance: Do I Need It? How Much? Who With?"
Cyber Security Insurance Review Checklist:
- Create a list of any sensitive data your company stores or collects (client info, banking info, proprietary formulas, etc.).
- Identify all applications your company is running locally and hosted.
- Identify all vendors, clients, and business partners that your systems (ERP, CRM) are connected to.
- Identify any regulations that apply to your industry/business.
- Work with IT firm to identify current tools and practices focused on your cybersecurity.
- Review cyber policy in your employee handbook. Is it current, and does it cover bring-your-own-device (BYOD) and personal use on company equipment?
- Develop an itemized ransomware cost sheet to share with your insurance broker.
- Meet with your insurance broker to review the information gathered above.
- Confirm that your coverage complies with any regulations and that the level of coverage, including deductibles, is identified in each item on the cost sheet.
- Schedule a review of your cyber insurance with your broker every 6 months.
If you have any questions about this checklist, please feel free to contact us at River Run.
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