How Malwarebytes Can Help SMEs Ace Cyber Essentials & Slash Cybersecurity Insurance Costs

In a world with ever increasing threats from ransomware gangs and hackers, businesses are looking for ways to secure their infrastructure and underpin their financial security. Two ways in which this can be achieved are with the UK Government’s Cyber Essentials and private Cybersecurity Insurance.?

However, anyone who has dipped their toe into Cyber Essentials certification will have memory of frustration and headaches, trying to jump through the hoops required to be granted with that Cyber Essentials logo!?

The sometimes eye watering amounts of Cyber Security Insurance premiums can also be prohibitive for small and medium enterprises. The problems of cyber fraud has grown so badly that Lloyd’s of London, the world’s oldest insurer, has refused to pay out in certain circumstances.?

Here at Trustco, we don’t like to bring problems however, we like solutions. That’s why we partner with Malwarebytes, our recommended solution SMB’s looking for robust cyber protection on a budget.?

Malwarebytes is a single point of protection that can help you meet Cyber Essentials certification and bring down Cybersecurity Insurance premiums. Let’s take a closer look:?

WHY CYBER ESSENTIALS AND CYBERSECURITY INSURANCE CARE ABOUT CYBER PROTECTION?

Before we get to the the ‘how’, let’s understand ‘why’ malware and ransomware protection is a must-have in today’s landscape.?

To get the Cyber Essentials certification, you must meet several criteria, one of which is malware protection. This certification is not only a mark of your business’s secure setup but is also increasingly becoming mandatory for various industry contracts in the UK.?

Insurance companies often insist on malware and ransomware protection as a prerequisite for offering coverage. Why? Because effective malware protection reduces the risk of successful cyber attacks, thereby reducing the likelihood of a claim. Remediation from attacks – the ability to remove the ‘infection’ and close the door behind you – is also essential if your business is to recover.?

Two Birds, One Stone: Some cybersecurity insurance providers may consider your Cyber Essentials certification when determining your premiums. So the two often go hand in hand.?

MALWAREBYTES: YOUR ‘SET IT AND FORGET IT’ SOLUTION?

Malwarebytes offers real-time protection against a wide array of malware and ransomware attacks – packed with 21 layers of protection.?

Once set up, it’s an autopilot system that constantly monitors your IT environment. Malwarebytes more advanced Managed Detection and Response (MDR), is an extension of the standalone endpoint-protection solution that adds one of Malwarebytes own human cybersecurity experts into your team – combining man and machine for a robust cybersecurity setup.?

HOW MALWAREBYTES HELPS TO MEET CYBER ESSENTIALS CERTIFICATION?

Getting certified in Cyber Essentials is increasingly important in the UK, especially for small and medium-sized businesses. So, how does Malwarebytes help??

Cyber Essentials Requirement: Malware Protection? Malwarebytes offers real-time protection that detects and prevents malware infections in real-time, aligning closely with the “malware protection” requirement.?Plus, with Quarantine and Remediation: Once a threat is detected, Malwarebytes can quarantine the malicious software and files, and also offers options to restore or permanently delete them.?

Cyber Essentials Requirement: Secure Configuration? Malwarebytes uses both signature-based and heuristic analysis to identify new and known threats, thus helping to maintain a secure configuration.?

Cyber Essentials Requirement: Patch Management and software updates? Malwarebytes regularly rolls out updates to improve its threat database and fix any vulnerabilities, thus adhering to good patch management practices. Using the Nebula portal you can easily monitor, manage, investigate and configure devices from the click of a button.?

Cyber Essentials Requirement: User Privilege Management? Malwarebytes allows administrators to limit who can modify its settings, contributing to better user privilege management.?

KEY TAKEAWAY?

Malwarebytes offers a well-rounded set of features that align closely with the requirements for Cyber Essentials certification. It’s a strong contender for businesses in the UK looking to comply with these guidelines.?

SAY GOODBYE TO SKY-HIGH CYBERSECURITY INSURANCE PREMIUMS?

Insurance company’s business modals are based on risk. How do they reduce their risk of requiring a pay out? And when they do need to pay, how do they reduce their amount they need to pay? Both of these come down to your organisation’s risk profile. Malwarebytes can meet insurance standards to reduce your risk profile and therefore bring down premiums. Here’s how:?

Risk Mitigation?

Lower Incidence of Malware Attacks?

• Insurance Relevance: Reduces the likelihood of insurance claims.?
• How Malwarebytes Helps: Real-time protection wards off malware, reducing the risk of successful attacks.?

Quick Remediation?

• Insurance Relevance: Minimises damage and financial losses.?
• How Malwarebytes Helps: Quarantine and remediation features limit the impact of any malware that does get through.?

Enhanced Security Posture?

Regular Updates?

• Insurance Relevance: Indicates proactive risk management.?
• How Malwarebytes Helps: Regular software updates and a robust threat database signify a constantly evolving defence mechanism.?

User Privilege Management?

• Insurance Relevance: Reduces human-error-related vulnerabilities.?
• How Malwarebytes Helps: Administrative controls limit who can make changes, reducing the chance of insider risks.?

Credibility & Compliance?

Industry Recognition?

• Insurance Relevance: Trusted software is often a positive indicator.?
• How Malwarebytes Helps: Being a recognised brand in cybersecurity, using Malwarebytes can show insurers that you’re taking credible steps to protect your assets.?

KEY TAKEAWAY?

Using Malwarebytes can help demonstrate a lower risk profile, which is a positive influence when negotiating cybersecurity insurance premiums.?

MALWAREBYTES IS A WIN-WIN SOLUTION?

Armed with the above information, we can see how Malwarebytes is s single-point solution for both Cyber Essentials certification and an invaluable tool to reduce cybersecurity premiums.??

Malwarebytes standalone ‘set it and forget it’ software solution is a robust peace of protection. When paired with Malwarebytes highly affordable and competitive MDR solution – small and medium enterprises can count on next level end-point protection and rely on Malwarebytes team of experts to be at their side.?

Instead of juggling multiple tools, why not choose Malwarebytes as your go-to for both Cyber Essentials compliance and lowering insurance costs. Take the pressure off your IT staff and sleep at night knowing Malwarebytes have got your back.?

FIND OUT MORE ABOUT THE STATE OF RANSOMWARE IN THE UK, WITH THE MALWAREBYTES WEBINAR?

Ransomware gangs are hitting the UK hard in 2023. Some groups are even exploiting zero-day vulnerabilities, allowing them to cast a wider net of victims. But with knowledge of the bad guys comes the power to defeat them.?

To find out more, join our webinar: The State of Ransomware 2023, presented by Trustco PLC and the ransomware prevention experts; Malwarebytes.?

Find all the event on our LinkedIn page.