The cost and impact of cyber-attacks are on the rise, particularly for small and medium sized businesses. As a result, purchasing a cyber insurance policy has become essential for mitigating risks to organizations.
To prevent vulnerabilities, insurance companies now require any organization must be equipped with Multi-Factor Authentication (MFA) for them to qualify for a cyber insurance policy. So what is MFA and how does it protect your business? MFA is the process of requiring more than simply a username and password for an employee or a customer to log in to their account. An MFA login system will prompt you for a combination of what you know (i.e. a password or PIN), what you have (i.e. a key card or OTP), and what you are (i.e. biometrics such as fingerprint or a palm vein scanner). For most business seeking cyber insurance, MFA has now become a prerequisite for coverage, and the specifics of this mandate can easily become very complex. To learn more about MFA requirements, benefits, and implementation:
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