Participant

2 months ago 4 Replies

Q:

SOC 2 Cyber Insurance

Is it mandatory to have cyber insurance for SOC2, or I can exclude it

Tagged: SOC2 Cyber Insurance

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Richa Tiwari
Participant

2 months ago

Hi Pratik, the SOC 2 framework doesn’t explicitly require cyber insurance. It requires the organization to invest in risk mitigation and one of the ways to do that is through cyber insurance. You could exclude it for now, but I believe your prospects and customers will require you to have it to ensure business continuity in the event of a cyber attack. Additionally, your auditors might dive into this and will recommend to have an insurance prior to the next audit.
- pratik2
  Participant
  
  2 months ago
  
  Thanks for the reply, in the last sentence you mentioned Auditor will recommend having insurance prior to the next audit. does that mean, prior to the renewal of SOC2.
- Richa Tiwari
  Participant
  
  2 months ago
  
  yes, they will want you to make progressive improvements to your program and will want to see in the next review evidence of cyber insurance.
- pratik2
  Participant
  
  2 months ago
  
  Thank you!

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