Optiv's Cyber Insurability Services


Improving Cyber Insurance Lifecycle Outcomes for All Involved


Navigate Cyber Insurance With Optiv

Cyber insurance, once a nice-to-have, is now a non-negotiable for the modern business. But the cybersecurity insurance industry has reached a tipping point – innovate or fail. Carriers, brokers and insureds are struggling to navigate an unpredictable cyber landscape with so many new vulnerabilities and threat actors appearing on the scene daily. Without changes, the industry may not be sustainable at the time it’s needed most.


Optiv launched our Cyber Insurability Services to help clients attain the ideal policy for their business. Creating a sustainable cybersecurity insurance process requires the right combination of expertise, planning, tools and resources. A technology-agnostic cybersecurity advisory partner, Optiv helps those seeking cyber coverage connect the dots between security and enterprise risk management.

From 2011 to 2020, cyber insurance purchasing rose from 35% to nearly 80%.


Advisen Information Security and Cyber-Risk Management Survey, 2020


Cyber Insurability Navigator Service Brief

Optiv’s Top 10 Cyber Insurability Controls


Optiv’s cyber experts have carefully compiled a list of essential security controls for insureds as they set out on their cyber insurance attainment or renewal process.



Identity and Access Controls


MFA, PAM, Managed Identity




Data Privacy and Governance


State/Federal Regulations, Compliance, Privacy-by-Design



Data Security


Cloud, Discovery, Encryption, Protection (DLP, CASB)



Logging and Monitoring





Vulnerability Management


VM Programs, Patch Management, Remediation



Detection and Response


EDR, NDR, MDR, MXDR, Threat Hunting



Business Resilience


CRS, Backup, TPRM



Incident Response Readiness


Plans, Playbooks, Tabletops



Cybersecurity Awareness


Phishing, Education



Network and OT Security


SASE, Architecture, Management, Protocols

Core Fundamentals


Four key principles our insurance experts stress throughout each Cyber Insurability Services engagement:

Optiv’s Security-Centric Approach to Cyber Insurance


Organizations purchase cyber insurance policies to help manage cyber threats, including risks associated with ransomware attacks. Below, we’ve highlighted some best practices for all parties involved in the cyber insurance process using a security-focused perspective:

The Five Categories of Cybersecurity Insurance Coverage

Third-Party Cyber Liability


  • Network security and data privacy liability
  • Media liability
  • Regulatory proceedings, fines and penalties
  • PCI-DSS fines and penalties

First-Party Cyber Event Expenses


  • Legal guidance
  • Incident response/forensics
  • Incident handling/containment
  • Notification and credit monitoring
  • Public relations and crisis communications

Data and Network Restoration Expenses


  • Data restoration
  • Network restoration
  • Software and computer program restoration
  • Hardware replacement

Business Interruption and Extra Expense


  • Contingent business interruption such as outsourced IT, cloud or other service provider
  • Income lost during time of cyber incident-triggered technology disruption
  • Extra expenses to get up and running after cyber incident
  • Income lost due to reputation damage

Cyber Crime


  • Ransom payments
  • Electronic theft
  • Social engineering
  • Funds transfer fraud
  • Telecom/utility theft
  • Invoice manipulation

Ransomware accounted for 32% of all incidents affecting small to medium enterprises.


NetDiligence Cyber Claims Study, 2021

A Collaborative Approach


Optiv services and support provide a vital bridge between cybersecurity and the cyber insurance process. This innovative connection enables all parties to work together to remediate risk and improve loss control. 


The innovation journey involves important milestones for insureds, including:

Establish an acceptable insurability baseline and methodology for ongoing reviews.

Maintain checkpoints to identify changes to baseline, mitigate emerging threats and implement loss control strategies.

Collect and share information with your carrier and broker about improvements and successes to tell your cybersecurity story during the cyber insurance renewal process.

Align incident response and incident recovery capabilities with cyber insurance requirements.

As a result, outcomes improve:

Fortify your environment and take control of your cyber insurance process. Improve cybersecurity maturity over time and protect your businesses with incident readiness, response and recovery services.


Brokers participate more fully in the cyber insurance market. Support insureds more effectively and bring cybersecurity services to market quickly without added overhead.


Carriers turn recommendations into adoption. Build and maintain a secure, responsive cyber insurance client base. Provide access to, and implementation of, cybersecurity controls, services and incident response support.


Are you a cyber insurance carrier or broker interested in working with Optiv? Please click the link below and let us know!


Disclaimer: Optiv does not sell service cyber insurance policies or service policies to our clients. The information provided here is for informational purposes only. Every cyber insurance policy is different. When in doubt, read your policy carefully with help from an industry professional such as an experienced cyber insurance broker who is well versed in this new and evolving coverage.

Talk to an Optiv Cyber Insurance Expert