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Infosec experts say CISOs must add multifactor authentication for logins to better protect their organizations against credentials theft.
But there’s also another reason. As of Jan. 1, many North American cyber insurers have a new rule: Without MFA organizations won’t get coverage.
That was one of the messages that came out of a panel on cyber insurance and cyber law at the Vancouver International Privacy and Cybersecurity Summit, which started Wednesday.
Derek May, a Vancouver-based account executive and cyber specialist at HUB International Insurance Brokers, said insurers are tired of paying claims for data breaches and have toughened their requirements for coverage.