- Will CrowdStrike Outage Trigger Cyber Insurance Premium Hikes?
- Trend Micro Advances Deepfake Protection: Tools MSSPs Can Use
- Ransomware Lawsuits Target Businesses, Vendors to Pay for Business Interruption
- 'Patchless Patching' for Zero-Days: Qualys Advances Vulnerability Management
Our MSP business readers at ChannelE2E know the importance of selling cybersecurity, particularly in 2024, as SMBs look to their providers for help with cybersecurity insurance, compliance, and protection against a changing threat landscape and ransomware. With that in mind, each week, ChannelE2E brings you a wrap-up of the best stories from our affiliate site, MSSP Alert. Here's this week’s roundup.
The latest question about last month's CrowdStrike outage is about cyber insurance: Will premiums get more expensive? Experts say insurance companies may change the way they insure contingent business interruption (CBI).
Who is responsible for the damage from a ransomware attack and who has to pay for it? That's another question that's been top of mind for MSPs and MSSPs, particularly following a recent lawsuit where a client sued its MSP after suffering a ransomware attack.
Trend Micro is advancing a new tool to identify deepfakes, which will be key to preventing disinformation and preserving election security. And Qualys is introducing something it's calling "patchless patching." The company will unveil this in its TruRisk Eliminate capability next week at Black Hat 2024 in Las Vegas.
Will CrowdStrike Outage Trigger Cyber Insurance Premium Hikes? Channel Experts Weigh In
Will the recent CrowdStrike outage trigger cyber insurance premium increases for end customers, MSPs or MSSPs? It’s a good question, particularly since the CrowdStrike outage wasn’t triggered by a cybersecurity event but instead by a system update issued by the company. How will insurance companies account for that? Will Brooks, channel chief at cyber insurance provider FifthWall, explained to MSSP Alert that insurance companies may change how they insure CBI or contingent business interruption. CBI insurance is a type of coverage that protects businesses from financial losses caused by disruptions to their suppliers, customers or other third parties. CBI can be an optional rider to a standard business interruption policy and is sometimes called "dependent business interruption" insurance. Brooks said that this kind of coverage could change in the wake of the CrowdStrike outage.
“We might see some kind of endorsement or exclusion around contingent business or dependent business interruption,” he said. That would represent a shift from what he called the “soft market of 2022/23,” when, in order to compete, many carriers offered CBI/DBI coverage, not only for a cyberattack but due to a network outage.
Trend Micro Advances Deepfake Protection: Tools MSSPs Can Use
It’s election season in the U.S. and numerous other countries, and that means the threat of deepfake technology creeping into the public discourse around candidates and their campaign messaging is very real. To combat deepfakes, where digitally manipulated video is used to convincingly replace one person's likeness, Trend Micro — a cybersecurity company that partners with MSSPs and MSPs — is releasing advanced technology designed to protect all environments from the rapidly growing threat of AI-based attacks and fraud.
Recent Trend Micro research shows a dramatic increase in AI-based tools available on the criminal underground, enabling them to launch attacks more easily at scale. Available soon in the Trend Vision One platform, the new deepfake detection technology, the technology is already available to consumers via Trend Micro’s new Deepfake Inspector.
Ransomware Lawsuits Target Businesses, Vendors to Pay for Business Interruption
Who is responsible for the damage from a ransomware attack and who has to pay for it? That's a question that's been at the top of mind for MSPs and MSSPs, particularly following a recent lawsuit where a client sued its MSP after suffering a ransomware attack. That lawsuit may have been the first of its kind for MSPs, but it probably won't be the last. A new report from Bloomberg Law, "Ransomware Attacks: Litigating a Growing Threat," shows an increasing volume of ransomware-related lawsuits across all major industries seeking billions of dollars in damages for everything from lost business profits to personal privacy violations. The dramatic increase in ransomware-related lawsuits is related to the increase in ransomware attacks themselves and underscores the growing legal challenges businesses, MSSPs and MSPs included, face in the wake of cyberattacks. Negligence is a top claim.
"Negligence and negligence per se causes of action are included in nearly every ransomware-related complaint researched for this report," authors Travis Yuille and Bridget Roddy wrote in the report. "Generally, in these cases, the plaintiff claims the defendant should have been aware that it was likely to be the target of a cyberattack."
'Patchless Patching' for Zero-Days: Qualys Advances Vulnerability Management
Patch management is a core capability for remediating vulnerabilities, but it may not always the most viable or the only option. Addressing every vulnerability is challenging due to potential business disruptions from patching, the unavailability of patches for zero days and the limitations of traditional patch management tools that rely solely on agents. Qualys, a provider of cloud-based IT, security and compliance solutions is introducing something it's calling "patchless patching." The company will unveil this in its TruRisk Eliminate capability next week at Black Hat 2024 in Las Vegas. TruRisk Eliminate provides additional remediation methods when patching isn't feasible using techniques such as targeted isolation and others to ensure protection.
“Some vulnerabilities do not have a patch at all and often application owners refuse to patch due to the fear of an outage,” Eran Livne, Qualys’ senior director of product management, told MSSP Alert. “To make things even harder for the security and IT teams, when a zero day is released it often takes time until a patch is available. TruRisk Eliminate provides non-patch alternatives to help customers mitigate their risk when a patch is not a viable option.”
