It’s no secret that most cyberattacks are designed for financial gain — cybercrime generates trillions of dollars of income each year for threat actors worldwide. However, recent trends suggest that malware is increasingly weaponized to cause as much damage as possible.
Cyber insurance has become a vital component of the risk management framework, providing a hedge against financial losses stemming from cyberattacks. However, these policies have become more expensive and difficult to obtain due to an explosion of new digital threats. One of the many ways underwriters are attempting to balance their risk is by making multifactor authentication (MFA) a mandatory requirement for coverage.