Protect and Save: Full Spectrum Cybersecurity Management, Your Insurance Premium Hack

Cybersecurity is not universally required, though industries such as healthcare, legal, and financial do face certain requirements due to the sensitivity of the data they handle. But many companies, regardless of industry or company size, are finding that the smart option is to carry a cybersecurity policy, regardless of requirements. In the past five years, that has come at a steep price: according to one study, the global cybersecurity market saw premiums double between 2018 and 2023, and those premiums are expected reach $29 billion by 2027.[1] But you don’t have to be a hostage to rising premiums. You can safeguard your company’s data, clients, and future and slash your cyber insurance premiums at the same time with one simple move: hire a cybersecurity firm.

How do you know?

Our clients tell us so. In 2023, we began working with a new client, a 200-person manufacturing company that came to us because they were facing a painful cyber insurance premium hike. After doing their security assessment, we made the necessary recommendations to provide a complete security posture and quoted those services and solutions. With those services and solutions in place, the premium hike was eliminated. What’s more, the entire cost for us to provide their complete security posture was less than the premium increase would have been.

But why?

Insurance companies, let’s face it — they tend to perform better when they insure low-risk clients. By working with a cybersecurity firm, you decrease your risk factors significantly in many ways.

Compliance and Best Practices: A cybersecurity firm that specializes in the ongoing, ever-changing field of cyber threats is best positioned to help ensure your organization follows industry standards, regulations, and best practices. Insurance providers reward that.

Better Scores on Risk Assessments: Many insurers require a risk assessment. By working with a cybersecurity firm, you can ace this evaluation and potentially lower premiums.

Proactive Measures Incentives: Some insurers provide discounts if you use advanced tools like intrusion detection systems, endpoint protection, or regular penetration testing—all of which you need a trusted cybersecurity firm to implement.

Incident Response Planning: If you choose a cybersecurity firm with expertise in creating and testing incident response plans, you can minimize the financial and operational impact of an attack. Minimal loss potential equals minimum potential insurance payouts. Insurers obviously look favorably on this.

Rapid Response: You have access to an A-team of cyber incident response specialists who can reduce downtime and recovery costs. Bonus points for you.

Demonstrating Due Diligence: As risk increases, thus the higher premiums, this is becoming more of a requirement than a bonus. If you want to be covered by cyber insurance at all, you may need to prove that you’re checking at least some of the cybersecurity basics boxes. If you can prove you’ve implemented even more advanced security, which a cybersecurity firm can help you do, then you’re looking at greater benefits.

Employee Education: Reducing the risk of the human factor in potential breaches is a crucial part of cyber preparedness, and your cybersecurity firm can help you employ proactive, ongoing training to achieve that.

 

Are you paying too much?

JSCM Group has helped many clients reduce their cybersecurity insurance premiums at the same time as hardening their security. Reach out to our team today to find out how much cyber protection can save you.


[1] Gallagher 2025 Cyber Insurance Market Outlook

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