How to Improve Ransomware Preparedness for Cyber Insurance Coverage

Now more than ever, clients turn to their MSPs for help reviewing and completing cyber applications.

The stakes are high. “A staggering 84% of US organizations experienced a phishing or ransomware attack in 2021, reports TrendMicro, “And the average ransomware payment was over $500,000.”

The threat landscape is getting worse, affecting businesses of all sizes, as cyber thieves continue to expand Ransomware as a Service (RaaS), subscription-based offerings that allow anyone on the dark side to launch attacks for a modest monthly fee.

How to Assess IT Effectiveness

It’s tough for C-Level executives at SMBs to honestly know the IT department has everything covered. 

Are we protected against the latest security vulnerabilities? Do we have a fool-proof backup and disaster recovery plan? Is my team qualified to manage Microsoft 365? Can they confidently answer questions on our cybersecurity policy renewal application?

Questions like these are top of mind when you have an in-house IT Department.

3 Problems with Co-Managed IT and How to Avoid Them

Co-Managed MSP services don’t always work out as planned.

Bad matches between clients and their MSPs are a two-way street. One company’s best-in-class MSP is another organization’s worst-in-class IT provider.

On the other hand, a very mediocre MSP can serve a business that is way out of its weight class, but not without substantial risk to the client.