Cyber insurance is often thought of as a safety net, but recent headlines are proving that it doesn’t always catch organizations when they fall. Insurers are increasingly denying multimillion-dollar claims when even basic cybersecurity controls aren’t in place.
Take, for example, a recent case in Hamilton, Ontario. After a major cyberattack, the city faced millions in recovery costs when its insurance provider refused to cover the damages. The denial wasn’t about fine print or legal maneuvering—it came down to something as fundamental as gaps in login security that should have been addressed long before the incident occurred.
Unfortunately, stories like this are no longer rare. They highlight a growing reality: insurance companies aren’t simply cutting checks after a breach. They’re requiring proof that organizations are proactively managing risk. Multi-factor authentication, vulnerability assessments, incident response plans, and governance structures are no longer optional—they’re prerequisites for coverage. Without them, insurance can be reduced or denied outright, leaving organizations to shoulder catastrophic costs on their own.
How CAG Helps You Stay Covered and Compliant
That’s where Columbia Advisory Group (CAG) comes in. Our Governance, Risk, and Compliance (GRC) services are built to bridge the gap between insurer expectations and organizational readiness.
Through our Cybersecurity Assessment and Advisory Services, we help organizations uncover vulnerabilities before insurers—or attackers—do. We align clients with leading frameworks such as NIST, SOC 2, HIPAA, and ISO 27001, and deliver clear, actionable steps to strengthen defenses. The goal isn’t to overcomplicate security; it’s to make it achievable, cost-effective, and tailored to your business.
For organizations that need strategic leadership but can’t justify the cost of a full-time executive, our virtual Chief Information Security Officer (vCISO) service provides a powerful alternative. A vCISO brings deep expertise to your team without the full-time expense—helping to design governance programs, oversee compliance, and ensure you remain both secure and audit-ready year after year.
Confidence Comes from Being Prepared
Proactive protection is the real safety net. By putting the right controls and governance in place, organizations not only strengthen resilience against cyberattacks but also ensure they meet insurer requirements when it matters most. Compared to the financial devastation of a denied claim or prolonged recovery effort, investing in assessments, advisory services, or vCISO leadership is a small price to pay.
At Columbia Advisory Group, we believe that strong cybersecurity doesn’t have to break the budget. It just has to be smart, strategic, and forward-looking. With the right partner, you can face the future with confidence—knowing you’re protected not just from attackers, but also from the hidden financial risks that come when insurance safety nets fail.
Contact an expert today learn how CAG can help protect your business:
https://columbiaadvisory.com/contact
https://columbiaadvisory.com/contact