Agilicus, a cybersecurity company and Ridge Canada Cyber Solutions Inc. (RCCS), a managing general insurance agency, have announced their partnership to assist Canadian small to midsize businesses (SMB) qualify for and obtain cybersecurity insurance.
With cyber risks and data breaches on the rise, additionally, the adoption of remote work by many companies has caused an explosion of cyber attacks, primarily ransomware, through compromised emails or legacy remote access technologies such as virtual private networks (VPNs) or Remote Desktop Protocol (RDP), the firms noted.
This has resulted in more bust security requirements, which have left some organisations struggling to secure or maintain their cyber insurance policies. Insurance applications are mandating additional safeguards for all access points; multi-factor authentication, least privilege access, enhanced auditing.
According to the announcement, with this partnership, SMBs have a path to quickly enhance their cyber posture to meet insurance criteria. The Agilicus AnyX platform can easily apply these safeguards to employees, vendors, and supply chain partners who need access to company information technology or industrial control systems.
Greg Markell, President and Chief Executive Officer, Ridge Canada, commented: “We are excited to be working with Agilicus, a Canadian solutions provider, to collectively focus on securing Canadian SMBs on their path to risk transfer.
“The insurance requirement for multi-factor authentication on remote access is table stakes, and in terms of underwriting, we are excited about the access this provides to our broker partners, and their clients.
“Businesses can implement Agilicus with an RCCS preferred rate and become insurable within tight timelines to qualify or renew their policies.”
