How about another entrant to cyber insurance? Microsoft has announced a partnership with At-Bay to “create superior and data-driven cyber insurance products backed by Microsoft’s security solutions.”
Starting on October 1, companies in the US that are already Microsoft 365 customers will be eligible “for savings on their At-Bay cyber insurance policy premiums if they implement specific security controls and solutions, including multi-factor authentication and Microsoft Defender for Office 365.”
Why do we care?
Money where their mouth is. I’ve been talking about financial incentives of software – well, linking your software to insurance is smart. Having specific controls in place and then ensuring insurance coverage. Smart.
Insurance companies do WANT to be in this space. This is a smart way to address it, and it’s also one way standards get applied. I expect to see a lot more of this approach… financial incentive tied to software implementation in security.