The cyber insurance market has grown in response to the rise in cyberattacks, with a 50% increase in 2021. Insurance companies now emphasize Privileged Access Management (PAM) due to most cyber incidents involving compromised credentials. They evaluate businesses based on PAM practices like granular access control, Multi-Factor Authentication (MFA), and the principle of least privilege. Insurers assess risk using the National Institute of Standards and Technology's cybersecurity framework, focusing on identifying, protecting, detecting, responding, and recovering from privileged account attacks.

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