As cyber-attacks become more sophisticated and frequent, businesses are turning to cyber insurance policies as a means of protection. Increasingly, CISO’s and Board of Directors are eager to take advantage of “risk transference” as part of a holistic cyber risk management strategy. However, the cost of such policies can often be a significant concern for organizations.

Privileged Access Management (PAM) is a critical aspect of cybersecurity that helps organizations protect their sensitive data from unauthorized access. By controlling and monitoring access to privileged accounts, PAM solutions can prevent cyberattacks, data breaches and compliance violations. However, some organizations fail to implement PAM, leaving themselves vulnerable to various risks.

Identity and Access Management (IAM) in most organizations is typically provided by Access Management, Privileged Access Management (PAM) and Identity Governance and Administration (IGA) solutions. Unfortunately, many of these solutions work independently in silos, and efforts to integrate them to work together can be patchwork at best.

Privileged accounts are the root of most threat vectors. So, it’s critical to take proper precautions to prevent catastrophic breaches. However, it often takes extra time and effort to fully recognize and mitigate Privileged Access Management security risks that put your organization at risk.