1. What is the process for MSPs to generate a cyber insurance quote request for their clients or themselves?
Answer: The process involves the following steps:
- Login or Register: MSPs need to sign up or log in to the SeedPod Cyber insurance portal via https://uwapp.seedpodcyber.com
- Integration: Fill in your information, including credentials, and enter the client ID and secret associated with the ASIO RMM solution.
- Get a Quote: Navigate to the “Get a Quote” page, choose the company, and enter the client’s name.
- Answer Questions: Provide information on revenue range and technical controls (MFA, patching, security awareness training, and backup).
- Submit Request: Submit the quote request which triggers the underwriting process.
2. What information is required to get a cyber insurance quote?
Answer: To get a quote, be prepared to have the following information:
- Company name and client details
- Revenue range of the client
- Information on technical controls such as multi-factor authentication (MFA), patching, security awareness training, and backup
3. Can MSPs get a quote for themselves?
Answer: Yes, MSPs can request a quote for their own cyber insurance coverage by entering their own company details in the process.
4. What are the revenue ranges used in the quote request process?
Answer: The revenue ranges used are:
- Under $25 million
- Between $25 Million and $50 Million
- Over $50 Million
5. What are the required security controls for getting a quote?
Answer: The required security controls include:
- Multi-factor Authentication (MFA)
- Patching
- EDR
- Email/DNS Filtering
- SPF, DKIM, DMARC on the DNS
- Security Awareness Training
- Backup, 1 offsite
- Encryption in transit and on the endpoints
6. What is the turnaround time for receiving a quote?
Answer: For clients with revenues under $50 million, a quote can be generated within 24 hours after submitting a request. Other quotes generally take 3 to 5 business days. (Note: Quotes will be sent directly to the client with a cc to the MSP.)
7. What coverage options are available through SeedPod Cyber?
Answer: SeedPod Cyber offers guaranteed issue coverage of $1 million for cyber liability and $1 million for data breach response expenses. Additional coverage options are available, including higher liability limits and first-party coverages such as business interruption, cyber extortion and social engineering.
8. Can clients customize their cyber insurance policy?
Answer: Yes, clients can customize their policy to meet their specific needs by adding or removing coverages and adjusting liability limits. SeedPod Cyber offers flexible options to ensure clients have the appropriate coverage for their unique risks.
