Cyber Insurance: The MSSP’s Biggest Salesman? – Joseph Edward Brunsman – CFH #2
It's becoming increasingly difficult to qualify for cyber insurance. Insurance providers are wary of multimillion dollar payouts resulting from costly ransomware attacks, and so the onus is on companies to prove that they can meet certain minimum cyber hygiene standards. One of the potential paths to reach this objective is by contracting a managed security provider who can ensure that you meet coverage criteria. But just how big of a difference does this strategy make -- enough for MSSPs to make insurance a key selling point? Conversely, do cyber insurance companies judge MSSPs' coverage worthiness based on the clients they keep? And what are some examples of exclusionary language that cyber insurance policy holders in an MSP relationship should watch out for?
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Guest
Joe is an author, speaker, and insurance broker. He is a graduate of New Mexico Military Institute and the United States Naval Academy where he obtained a degree in Systems Engineering (Robotics). As an IT he specialized in database management and network security. In 2019 he completed his Masters of Law in Cybersecurity Law at the Carey School of Law. Joe uses his technical background to specialize in solving complex insurance problems for businesses across the country. As the founder of the Brunsman Advisory Group, he uses his technical background to focus his insurance brokerage on Cyber, E&O and Tech E&O insurance solutions.
He is the co-author of three bestselling books on insurance: True Course: The Definitive Guide for CPA Practice Insurance, Open Before Crisis: Cyber Insurance for CPA Firms, and Damage Control: Cyber Insurance and Compliance. In early 2021, his chapter on Risk Management and Transference Issues in Blockchain Technologies was published in The Emerald Handbook of Blockchain for Business. In addition, he has authored numerous peer reviewed articles found in nationwide magazines. His next book on Tech E&O insurance is slated to be published in early 2023. You can find him most often on his own YouTube Channel – Joseph Brunsman – where he speaks about the latest in cyber insurance, risk management, and cybersecurity law.
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