If you’ve renewed a cyber insurance policy in the last couple of years, you’ve probably noticed the application looks nothing like it used to.
It used to be a one-page form asking if you had antivirus installed. Now it’s pages of specific questions about multi-factor authentication, endpoint detection, backup architecture, and incident response. Increasingly, insurers want proof, not just a checked box.
That’s good news if your IT is buttoned up. It’s a slow, expensive surprise if it isn’t.
Why cyber insurance got so much harder to buy
Ransomware claims have cost insurers billions of dollars over the past several years, and payouts on businesses without basic controls in place have been especially bad for carriers. So insurers tightened up: longer applications, more required controls, and more denials or coverage exclusions for businesses that can’t show they have them.
The result is a market where two businesses of the same size, in the same industry, can get very different quotes. Sometimes a very different answer altogether. It usually comes down to what security controls they actually operate day to day.
What underwriters actually check
Every carrier’s application looks a little different, but most are circling the same handful of fundamentals. These are the controls that show up again and again:
If a business can’t answer these questions with confidence, one of three things usually happens. The application gets denied, certain coverage gets excluded (ransomware payouts are a common one), or the premium comes back higher than expected.
Tech River is SeedPod Certified
This is exactly why we went through the process of becoming SeedPod Certified.
SeedPod is a cyber insurance carrier, and their certification isn’t a vendor badge. It’s an underwriting review of the security controls we actually operate. Their underwriters verified 24 controls across eight domains: identity and access, endpoint and network security, email security, backup and recovery, patching and software hygiene, encryption, governance, and security awareness training. Before any of that, we had to clear three baseline requirements: carrying tech E&O/cyber coverage ourselves, maintaining a managed services agreement that clearly defines scope and liability, and having a documented, tested incident response plan.
Because we operate these controls across every client environment by default, a business that comes to SeedPod through Tech River is a known, lower-risk profile. That’s why our clients frequently see materially better pricing on their annual cyber policy. We’ve seen savings up to 20%.
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The bigger picture
Cyber insurance and cybersecurity used to be two separate line items. They aren’t anymore. The controls that keep your business off the front page of a breach report are the same controls that determine whether you can get insured, and what you’ll pay for it.
If you’re not sure where your business stands, that’s a conversation worth having before your next renewal, not after a denial letter shows up.
Frequently Asked Questions
Why is cyber insurance harder to get approved for now?
Insurers have paid out heavily on ransomware and business email compromise claims tied to businesses without basic controls in place. In response, most carriers now require proof of specific security measures, like MFA, EDR, and tested backups, before approving a policy or setting a price.
What controls do cyber insurance underwriters look for most?
The most common ones are multi-factor authentication on admin and remote access, no standing local admin rights, endpoint detection and response coverage, immutable and tested backups, patch management, email security controls, and employee security awareness training.
What is SeedPod Certification?
SeedPod Certification is an underwriting review conducted by cyber insurance carrier SeedPod. It verifies 24 specific security controls across eight domains that MSPs operate for their clients, plus three baseline business requirements. It’s not a marketing badge. It’s a technical audit tied directly to insurability.
Can better security controls actually lower my cyber insurance premium?
Yes. Businesses that can demonstrate strong, verified controls are seen as lower risk and often qualify for better pricing. Clients working with Tech River through our SeedPod Certification have seen savings up to 20% on their annual cyber policy.
When should I start preparing for a cyber insurance renewal?
Well before your renewal date. Fixing control gaps, like enabling MFA everywhere or setting up tested backups, takes time. Starting that work during the underwriting process instead of ahead of it usually means a worse rate or a denial.
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