Arctic Wolf introduces Cyber Resilience Assessment tool

Arctic Wolf, a worldwide provider of security solutions, has announced the launch of the Arctic Wolf Cyber Resilience Assessment (CRA). CRA is a tool designed to help companies of all sizes enhance their cyber resilience and insurability by mapping their security posture to industry-standard frameworks. This introduction expands Arctic Wolf’s Security Journey - a tailored customer programme that amalgamates tools and assessments to aid customers in assessing, mitigating, and transferring risk.

Almost half of the organisations today require a risk assessment to qualify for cyber insurance, according to IDC. Therefore, cyber resilience is crucial for business resilience, particularly when procuring cyber insurance. Standardised risk assessment against standard cybersecurity frameworks, such as those from the National Institute of Standards and Technology (NIST) and Center for Internet Security (CIS), is notably absent industry-wide. Hence, the quantification of cyber risk poses a critical challenge for leaders seeking to provide cyber insurance carriers and other non-technical stakeholders with an objective overview of cyber risk.

In the latest version of NIST's Cybersecurity Framework, a new governance function was underlined as a major requirement for organisations to establish and track their cybersecurity risk management strategy, policies, and expectations. Arctic Wolf's Cyber Resilience Assessment aids companies in understanding how continuous governance activities stack up against other cyber risks, monitor security posture over time, and communicate assessment results to non-technical stakeholders, including cyber insurance carriers, through the Arctic Wolf Insurability Rating output.

Scott Holewinski, Senior Vice President, Security Journey at Arctic Wolf, commented, “Whether companies are just beginning to obtain a cyber insurance policy, or are approaching their annual insurance renewal, effectively assessing and communicating their security posture to the cyber insurance ecosystem is critical. With this announcement, Arctic Wolf continues to establish its position as a global cybersecurity leader delivering innovative solutions that bring us closer to our insurance industry partners and open the possibility for exciting new risk-transfer options for our customers."

Jacob Ingerslev, Senior Vice President, Underwriting, Cyber & Tech, at Tokio Marine HCC – Cyber & Professional Lines Group, said, “The market is inundated with proprietary risk assessment tools, many of which are tedious and require manual tracking, lack standardisation and do not always map to established frameworks such as NIST. Being able to provide businesses with transparent security posture assessments will help technical leaders communicate areas of investment to board-level stakeholders and ultimately help businesses become more insurable."

Cyber Resilience Assessment is accessible to all Arctic Wolf customers, through the Unified Portal. It continues the company's commitment to assisting organisations in enhancing business resilience and insurability through an innovative approach to security operations.

The notable features of the Cyber Resilience Assessment include the option for customers to easily map security posture against their preferred industry-standard frameworks, a rating system that is not reliant on proprietary risk assessment tools, and an integrated cyber insurance rating to improve insurability. Customers can use this in insurance renewal cycles and in discussions with brokers to offer artifacts of support for self-attestations. Additionally, the tool outlines and prioritises areas of risk for mitigation, allowing leaders more effective budget and resource allocation discussions.