--- title: "Strengthening Cyber Resilience: APRA’s Guidance on Addressing Common Cybersecurity Weaknesses" description: Strengthen cyber resilience with APRA's latest guidance on addressing cybersecurity weaknesses in the financial sector. Take action to fortify defenses and protect against evolving threats. image: https://blog.insuredhq.com/hubfs/APRA%20Cyber.png --- [![IHQ Logo - Banner RIGHT IHQ ONLY](https://blog.insuredhq.com/hs-fs/hubfs/IHQ%20Logo%20-%20Banner%20RIGHT%20IHQ%20ONLY.png?width=473&height=70&name=IHQ%20Logo%20-%20Banner%20RIGHT%20IHQ%20ONLY.png "IHQ Logo - Banner RIGHT IHQ ONLY")](https://www.insuredhq.com/insuredhq-insurance-made-simple) - [PLATFORM](https://www.insuredhq.com/solutions) - [RESOURCES](https://www.insuredhq.com/stories) - [Blog](https://blog.insuredhq.com/blog) - [News](https://www.insuredhq.com/media-pr) - [Use Cases](https://www.insuredhq.com/testimonials) - [Glossary](https://www.insuredhq.com/glossary) - [STORIES](https://www.insuredhq.com/stories) - [Customers](https://www.insuredhq.com/testimonials) - [ABOUT](https://www.insuredhq.com/company) - [Company](https://www.insuredhq.com/company) - [Privacy](https://www.insuredhq.com/privacy-policy) - [Glossary](https://www.insuredhq.com/glossary) - [CONTACT](https://www.insuredhq.com/contact) - [Demo](https://www.insuredhq.com/contact) - [Media Inquiries](https://www.insuredhq.com/en/media_inquiry) - [BOOK A DEMO](https://www.insuredhq.com/contact) [![IHQ Logo - Banner RIGHT IHQ ONLY-1](https://blog.insuredhq.com/hs-fs/hubfs/IHQ%20Logo%20-%20Banner%20RIGHT%20IHQ%20ONLY-1.png?width=473&height=70&name=IHQ%20Logo%20-%20Banner%20RIGHT%20IHQ%20ONLY-1.png "IHQ Logo - Banner RIGHT IHQ ONLY-1")](https://www.insuredhq.com/) - [PLATFORM](https://www.insuredhq.com/solutions) - [RESOURCES](https://www.insuredhq.com/stories) - [Blog](https://blog.insuredhq.com/blog) - [News](https://www.insuredhq.com/media-pr) - [Use Cases](https://www.insuredhq.com/testimonials) - [Glossary](https://www.insuredhq.com/glossary) - [STORIES](https://www.insuredhq.com/stories) - [Customers](https://www.insuredhq.com/testimonials) - [ABOUT](https://www.insuredhq.com/company) - [Company](https://www.insuredhq.com/company) - [Privacy](https://www.insuredhq.com/privacy-policy) - [Glossary](https://www.insuredhq.com/glossary) - [CONTACT](https://www.insuredhq.com/contact) - [Demo](https://www.insuredhq.com/contact) - [Media Inquiries](https://www.insuredhq.com/en/media_inquiry) - [BOOK A DEMO](https://www.insuredhq.com/contact) [![Request a Demo](https://hubspot-no-cache-ap1-prod.s3.amazonaws.com/cta/default/579587/c54a9440-5c58-4dcf-8f9a-b1500dd0b6ff.png)](https://hubspot-cta-redirect-ap1-prod.s3.amazonaws.com/cta/redirect/579587/c54a9440-5c58-4dcf-8f9a-b1500dd0b6ff) **Menu** [![Request a Demo](https://hubspot-no-cache-ap1-prod.s3.amazonaws.com/cta/default/579587/c54a9440-5c58-4dcf-8f9a-b1500dd0b6ff.png)](https://hubspot-cta-redirect-ap1-prod.s3.amazonaws.com/cta/redirect/579587/c54a9440-5c58-4dcf-8f9a-b1500dd0b6ff) - [Solutions](https://www.insuredhq.com/solutions) - [Company](https://www.insuredhq.com/company) - [Blog](https://blog.insuredhq.com/blog) - [Contact](https://www.insuredhq.com/contact) ![](https://blog.insuredhq.com/hubfs/APRA%20Cyber.png) [insurance](https://blog.insuredhq.com/blog/topic/insurance) | [cyber](https://blog.insuredhq.com/blog/topic/cyber) | [APRA](https://blog.insuredhq.com/blog/topic/apra) | 2 min read # Strengthening Cyber Resilience: APRA’s Guidance on Addressing Common Cybersecurity Weaknesses [![Jon Davies](https://app.hubspot.com/settings/avatar/1519aefee29a33cac98c0bceff42b89c)](https://blog.insuredhq.com/blog/author/jon-davies) Written by [Jon Davies](https://blog.insuredhq.com/blog/author/jon-davies) 20 Aug 2024, 18:42:59 As cyber threats continue to evolve and pose significant risks to the financial sector, the [Australian Prudential Regulation Authority](https://www.apra.gov.au/) (APRA) has once again [issued guidance to insurers](https://www.apra.gov.au/additional-insights-on-common-cyber-resilience-weaknesses), highlighting prevalent weaknesses in cyber control practices. This latest advisory builds on their earlier communications and underscores the critical need for insurers to fortify their defenses against emerging cyber risks. In June, APRA sent an [initial letter](https://www.apra.gov.au/additional-insights-on-common-cyber-resilience-weaknesses) outlining concerns about the management of privileged access and the thoroughness of security measure testing within the industry. The new guidance elaborates on these issues, providing actionable insights for insurers to strengthen their cybersecurity frameworks. [Alison Bliss](https://www.linkedin.com/in/alison-bliss-3499928a), General Manager of Operational Resilience at APRA, emphasized the urgency of addressing these vulnerabilities: “APRA expects regulated entities to rigorously evaluate their control environments in light of these identified weaknesses and take swift action to close any gaps.” She further clarified that if such gaps could significantly alter an entity’s risk profile or financial health, they must be reported under the [CPS 234 Information Security](https://www.apra.gov.au/sites/default/files/cps_234_july_2019_for_public_release.pdf) regulation as material security control weaknesses. [InsuredHQ](https://www.insuredhq.com), leveraging its extensive industry experience and [APRA-reviewed and approved](https://blog.insuredhq.com/blog/insuredhq-powers-ivory-insurances-entry-into-theaustralian-market) technology platform, recognizes the importance of maintaining a robust cyber defense. In line with APRA’s recommendations, we urge all insurers to remain vigilant, continuously improving their cyber resilience strategies to counter the increasing complexity of cyber threats. APRA’s guidance calls for insurers to ensure that identification and authentication measures are sufficiently robust to prevent identity falsification and other security breaches. Regular self-assessments, coupled with the adoption of established cyber safety protocols, are also recommended to maintain a resilient cybersecurity posture. ![](https://cpp-prod-seek-company-image-uploads.s3.ap-southeast-2.amazonaws.com/435228/logo/64119131-bcca-11ea-86d1-e52bae5cc086.jpeg) Key strategies suggested by APRA include: - **Timely Threat Remediation:** Addressing vulnerabilities stemming from insecure configurations of information systems swiftly. - **Privileged Account Management:** Keeping comprehensive records of privileged accounts and ensuring that access is granted only temporarily and solely for legitimate business purposes. - **Advanced Security Testing:** Conducting contemporary security tests regularly, with results reported to the appropriate governance bodies and follow-up actions meticulously tracked. At InsuredHQ, we are committed to helping our partners navigate the complexities of cybersecurity. By adhering to APRA’s guidelines and leveraging our advanced technology solutions, insurers can enhance their cyber defenses, ensuring that they not only comply with regulatory requirements but also safeguard their operations and customers in an increasingly hostile digital landscape. Previous Story [← InsuredHQ Named a Global Top Insurtech Company | Global 5-Star Technology and Software Provider for 2024](https://blog.insuredhq.com/blog/insuredhq-named-a-global-top-insurtech-company-global-5-star-technology-and-software-provider-for-2024) Next Story [ASIC Targets Harmful Insurance Practices in 2024-25 Corporate Plan →](https://blog.insuredhq.com/blog/asic-targets-harmful-insurance-practices-in-2024-25-corporate-plan) ## You May Also Like These Stories on insurance [insurtech](https://blog.insuredhq.com/blog/topic/insurtech) ### [The big brokerages are buying talent, not tech. 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