One of these services that have become almost a necessity for organizations to have is cyber insurance.

What is Cyber Insurance?

A cyber insurance policy helps an organization pay for damages resulting from a successful cyberattack or data breach. In the event of such an incident, the policy can help cover the cost of investigation, crisis communication, legal services, and refunds to customers. Having this type of coverage in place can provide peace of mind in the event that your business is targeted by bad actors.

As data breaches and cyber-attacks become more common, the market for cyber insurance is booming. More businesses are feeling the effects of these attacks and are turning to insurance to protect themselves.

In fact, cyber insurance is one of the fastest-growing markets. The global cyber insurance market was valued at $7.7 billion in 2020 and is projected to grow to a staggering $20.4 billion by 2025 (Source).

Companies that suffer from a cyberattack can often find relief through cyber insurance, but this does not mean that they can forgo an all-encompassing cybersecurity program.

Think of it this way: drivers have car insurance to protect themselves from the monetary expenditure should an accident happen, but that’s only after the accident has happened. During the accident, the car launches out airbags to hold the driver and passengers safely inside the vehicle with restraints, and sometimes with newer cars, will divert the car from a collision altogether with modern technology.

The same goes for an organization incorporating security within their IT departments or working with a dedicated MDR provider similar to CyberMaxx. The people, processes, and technology implemented to help protect organizations from bad actors looking to breach assets is like those car safety features that are looking to prevent medical or property damage.

Put simply: Cybersecurity measures help prevent a data breach from happening so that cyber insurance isn’t necessary unless a breach occurs, which is much less likely with proper proactive measures deployed.

The Human Element

85% of data breaches are a result of human error (Source).

What does that mean? Typically it’s when an individual clicked on or downloaded something they weren’t supposed to and allowed malware of some kind to be installed in the organization’s networks, beginning the domino effect of a data breach.

In today’s market, insurance companies providing cyber liability coverage to businesses are increasingly requiring awareness training that includes regular phishing simulations. By regularly testing their employees’ ability to spot and avoid phishing scams, businesses can help protect themselves from the potentially devastating consequences of a successful cyber attack.
Cyber Insurance Is Calling The Shots

Organizations are increasingly being required by cyber insurers to implement security technologies in order to mitigate risk.

Why?

It makes sense. If an organization has an added security posture against cyber attacks, it has a heightened probability of preventing breaches and not even having to use the insurance policy.

Some of these technologies that insurance providers are requiring include:

• Endpoint detection and response (EDR) solutions
• Vulnerability Risk Management (VRM)
• Network Detection and Response (NDR)
• Security Information and Event Management (SIEM) technology

What’s The Worst That Can Happen?

Some organizations have been playing roulette with their security, or lack thereof, and foregoing additional security protection with the intent of just paying deductibles should a breach occur.

The insurance provider may get the last laugh If an organization does not have basic cybersecurity measures in place. Cases have been reported that insurers are not covering expenses associated with a security incident if the organization cannot prove that the required security measures weren’t met.

Why Managed Security Is Better

Some insurance providers are requiring a Managed Detection and Response (MDR) solution (Hint: CyberMaxx is both), instead of an organization just purchasing the minimum required solutions – i.e. EDR, VRM, SIEM, etc.

MDR Services are designed to help organizations quickly identify and respond to threats. By combining human expertise, processes, and technology, MDR can provide a comprehensive solution for threat hunting, monitoring, and response.

MDR solutions improve your organization’s threat detection and incident response, making organizations with an MDR/XDR solution more attractive candidates for cyber insurance providers.

An important benefit of MDR is that it helps reduce the impact of threats without the need for additional staffing. Without the need to hire additional staff, a company’s security posture is immediately increased as having this human expertise that’s been trained for years doesn’t have the typical ramp-up time required with building a team from scratch.

Good Protection Matters: To Hire MDR or Not to Hire MDR

In the end, what insurers are requiring not only protects their bottom line but will help protect organizations choosing to purchase cyber insurance policies.

At CyberMaxx we actively work with cyber insurance to help lower premium rates on the organization’s behalf.

Not only does the insurer benefit from having CyberMaxx as the MDR/XDR provider because of the 20+ year track record of thwarted attacks and protected assets in the healthcare, financial services, retail, and other heavily regulated industries – It’s proven that when an organization uses CyberMaxx as the protection provider, assets won’t go breached.

The post Organizations Need Both Cyber Insurance and a Strong Cybersecurity Program appeared first on CyberMaxx.

EDR.

NDR.

MDR.

XDR.

MXDR. – That’s a whole other ball of twine we’ll unravel another time.

It seems at times that the cybersecurity industry is going down the alphabet picking out random acronyms in order to name service offerings.

Acronyms aren’t a new thing, and that’s not what we’re going to talk about. We’re going to discuss the differences between these acronyms and why all services are not equal.

Side note: We at CyberMaxx are also aware that we aren’t the first to write on this topic.

The information security landscape is a constantly evolving arms race in order to keep up with threat actors and the new technology and techniques they are using to infiltrate networks and devices for an easy payday.

All of the acronyms above have two letters in common: ‘D’ & ‘R’, which stands for Detection & Response.

Threats don’t occur in the same places in a network or device, and responses will be different based on how, where, why, and when a threat occurs. Hence the different acronyms.

EDR, NDR, and MDR are broadly used and are fairly mature technologies. The newest kid on the block, XDR has been around for some time too. XDR was coined by Nir Zuk, Palo Alto Networks CTO, in 2018

But They All Sound the Same

While there are overlaps in what these different types of detection and response securities provide, there are several major differences that set their approaches to security apart.

When it comes to choosing a security solution for an organization, it is important to understand what each option provides in terms of protection. With so many vendors and products on the market, it can be difficult to make an informed decision.

MDR, XDR, NDR, and EDR are all best-in-class security solutions that share a lot of common features. However, they approach security in different ways, each with its own advantages and benefits. Let’s take a closer look at these three solutions to see what sets them apart.

Endpoint Detection And Response (EDR)

Endpoint Detection and Response, or EDR, is a security solution that monitors and collects data from endpoints in real-time, with rules-based automated response and analysis capabilities.

Endpoint security has traditionally been a reactive measure, only detecting potential threats after they have already occurred. EDR, however, is a proactive solution that focuses on identifying and stopping Advanced Persistent Threats (APTs) and never-before-seen malware. Most EDR solutions use a combination of cyber threat intelligence, machine learning, and advanced file analysis to detect these sophisticated threats.

EDR solutions provide a wealth of data that can be used to detect and analyze suspicious activities over time. In case of a breach or detection, EDR can contain the malware by isolating it and understanding its behavior through detonation in a safe environment (i.e., sandbox). EDR will also help conduct an extensive root cause analysis and aid with faster incident response.

Gartner predicts that by 2023, more than half of all enterprises will have replaced legacy endpoint security software with EDR solutions. This shift will help organizations better protect themselves against sophisticated attacks and improve their overall security posture.

Network Detection and Response (NDR)

NDR, or Network Detection and Response, monitors traffic for signs of malicious activity and can take immediate action to mitigate any threats that are detected. This helps organizations protect their networks from hackers, viruses, and other cyber threats.

Organizations have been capturing network data for performance analysis for some time. However, as data volumes increased, many organizations were unable to effectively use this information for cyber defense. Network traffic provides a wealth of data that can be used to detect and respond to security threats, but only when it is properly monitored.

As machine learning and artificial intelligence become more sophisticated, they are playing an increasingly important role in network security. By analyzing data from networks, these technologies can help identify potential threats and take action to protect against them.

Organizations that use NDR technologies have been able to improve their detection capabilities, prioritize threats according to risk level, and automate many tasks that used to be performed manually. This has allowed analysts to focus on strategic tasks such as triage and rapid response.

Machine learning models that analyze network behavior can detect sophisticated evasion methods, known unknown cyber threats, and brand-new zero-day threats. This makes advanced NDR tools essential for comprehensive security.

Wait…isn’t NDS just another name for IDS/IPS?

NDR solutions can give you the visibility and tools you need to detect and investigate threats, anomalous behaviors, and risky activity like unmanaged honeypots in production environments. Intrusion detection and prevention systems (IDS/IPS) monitor the perimeter of networks for intruders and can fire alerts if they detect an attack.

IDS/IPS are core components of an NDR solution, but lack the automated tasks and detection of threats, unlike NDR.

Managed Detection And Response (MDR)

Manage Detection and Response (MDR) is an outsourced service that can help organizations hunt for threats and respond to them quickly and effectively. MSSPs, or managed security service providers, deliver MDR services by continuously monitoring an organization’s attack surface for potential threats. This allows organizations to focus on business goals while someone else takes care of keeping networks and device traffic safe and monitored.

Not all MSSPs have their own security operations center (SOC), but those that do have a virtual security operations center (VSOC) deliver services remotely that can help organizations rapidly detect, analyze, investigate and respond to threats.

MDR service providers offer a turnkey experience, using a predefined technology stack to collect logs, data, and contextual information. This telemetry is analyzed within the provider’s platform using a range of techniques, allowing for investigation by experts skilled in threat hunting and incident management. These experts then deliver actionable outcomes.

MDR services are not limited to any one technology but may include a variety of tools such as endpoint detection, SIEM, NDR, vulnerability management, and cloud security.

Extended Detection And Response (XDR)

This holistic, cross-platform approach goes beyond EDR by collecting and correlating activities across multiple endpoints, networks, servers, cloud workloads, SIEM, and more. Extended Detection And Response (XDR) provides a unified, single pane of glass view across multiple tools and attacks vectors for improved productivity, threat detection, and forensics. Out-of-the-box integrations and pre-tuned detection mechanisms across different products and platforms make XDR the easy choice for enterprises wanting to future-proof their security posture.

XDR is a cutting-edge security tool that uses artificial intelligence, machine learning, and automation to sift through thousands of information logs. By providing accurate, context-rich alerts to security teams, XDR has the potential to revolutionize the security industry. This makes it easier for security teams to manage and monitor their environment, as well as reducing the overall cost of ownership.

Conclusion

As IT departments strive to keep up with the rapidly changing landscape of security threats, they face challenges when it comes to detection and response solutions.

Acronyms abound in the cybersecurity industry, making it difficult to determine which technology is best for their needs. EDR, NDR, MDR, and XDR are technologies that aim to provide greater visibility, threat detection, and response across all corporate endpoints.

As the workforce becomes more dispersed, it is important for IT teams to increase their visibility and ability to remediate remotely.

Today, 70% of all breaches still originate on the endpoint, so it is crucial for teams to have a solution in place that can effectively address this issue.

However, choosing the right solution can be difficult, as different vendors use different terminology. By understanding what each solution offers, you can make an informed decision that meets the needs of your organization.

The post EDR, NDR, XDR And MDR: What’s Right for Your Organization appeared first on CyberMaxx.

This represents a 10% increase from the average cost in 2019, which was $3.86 million. Given the potentially devastating financial impact of a data breach, it is essential for businesses to take steps to protect their data and prevent breaches from occurring.

Technologies like IDS (intrusion detection system) and IPS (intrusion prevention system) have become more commonplace (This technology is still a part of network detection and response (NDR) services) and provide round-the-clock protection against potential threats, making them an essential part of any comprehensive security setup.

IDS/IPS systems have been the popular means of protecting IT systems and managing cybersecurity threats and known attacks because they deliver robustly personalized protection.

If you’re new to IDS and IPS, you probably want to learn more about what these systems are and why you need them.

What are IDS/IPS?

IDS and IPS come in to help detect and prevent destructive cyber attacks. IDS and IPS are quite similar to data breach response systems and often work in conjunction with one another to ensure those network threats are prevented and managed effectively.

Intrusion Detection Systems (IDS)

Monitors your network for suspicious activity and reports to create data sets. When an IDS system detects a potential threat or something suspicious, it will flag this with a warning notice. Action can then be taken in a strategic manner against the potential threat, independently of the IDS system. Unlike an IPS system, it doesn’t act as the middleman between the sender and receiver of information. An IDS system is more of a behind-the-scenes reporting system that provides information on which to base decisions.

Intrusion Prevention Systems (IPS)

Monitors network traffic by sitting behind the firewall and keeping any malicious attackers away from the rest of your network. IPS systems are able to recognize patterns in network traffic and act on them immediately so as to prevent malicious attacks. In doing this, IPS is an active security resource – that is, it responds to real-time data in order to stop cyber security attacks once a risk has been detected. Newer IPS systems rely on pre-programmed rules that allow them to take action. Whilst their main aim is to detect anomalies, once they find them, IPS systems are able to block IP addresses and forward the relevant malicious traffic. This way, they are more active (and proactive) than Intrusion Detection Systems.

Why are IDS/IPS needed?

As much as we would like to believe otherwise, there is simply no such thing as an impenetrable network or a foolproof firewall. Threat actors are constantly finding new ways to exploit vulnerabilities and bypass defenses. In many cases, they will use other malware or social engineering techniques to obtain user credentials that grant them access to networks and data.

IDS/IPS technologies are crucial for security, both at the network edge and within data centers. Their ability to stop attackers while they are still in the process of gathering information about a network is invaluable. This technology is in place to ensure IT personnel is notified when an attack or network intrusion might be taking place – monitoring both inbound and outbound traffic on the network, as well as data traversing between systems within the network.

IDS/IPS Are Still Relevant

There is no one-size-fits-all solution to cybersecurity, but having the right people and processes in place is crucial to keeping your organization safe. IDS/IPS services provide the ability to take quick action when your network is compromised, which can help prevent further damage.

Organizations should take steps to protect their networks from intrusions. It’s a recommended best practice to include placing network IDS/IPS devices at all points of entry and host IDS/IPS devices on key servers. A wireless IPS can also help to thwart attacks that exploit wireless Internet connections.

CyberMaxx utilizes IDS/IPS technology with the MAXX Network network detection and response (NDR) service.

MAXX Network delivers non-stop protection against malicious behavior, making sure data security professionals can sleep soundly at night knowing the organization’s networks are safe and secure.

The post What Is IDS/IPS And Why Do You Need It? appeared first on CyberMaxx.

Wait, did we say that out loud?

There have been rumblings in the industry that intrusion detection systems (IDS) and intrusion protection systems (IPS) are on their way out as useful tools to protect organizational networks and devices.

“It’s obsolete!”

“Everything’s encrypted now!”

CyberMaxx feels that IDS and IPS are alive and well, especially when matched with a managed security operations center (SOC) (Ultimately that makes it more Network Detection and Response rather than just regular old network security) watching the traffic to make sure nothing slips in between the crack.

Although IDS and IPS solutions are designed to protect against potential threats, they can only be effective when properly deployed and configured – i.e. tuned to the specifications needed by the organization to weed out all the noise that could be hiding a bad actor’s ill-intended piece of malware. Traditional firewall-based security solutions are often not enough in today’s cloud computing and dispersed workforces.

IDS/IPS CliffsNotes: What Are They

Intrusion Detection System (IDS): Suspicious activity can be detected by analyzing data packets as they travel across a network. IDS is a tool that does this by identifying these suspicious packets and generating an alert. This system is passive, meaning it only detects and alerts, without taking any other action (Hint: this is where a mature SOC can help add years of experience to increase any organization’s security posture).

Intrusion Prevention System (IPS): IPS goes a step further by adding an active protection method of adapting to the threat and blocking the traffic from reaching the intended victim host.

There is no clear winner in the debate between IDS and IPS. Each has its own advantages and disadvantages, and the best option for a given organization depends on the specific deployment scenario.

When IDS/IPS Isn’t Used Effectively

In order for IDS/IPS systems to be effective, it is important to understand a few of their inherent limitations.

IDS/IDS Rely on Signatures

This means that only known attacks are being watched for. Cybercriminals are constantly changing their methods, which makes it difficult for traditional security systems to keep up, and since these systems rely on signatures, which means that only known attacks are being watched for.

False positives and alert fatigue are big problems in the world of security. To combat these issues, many companies have sprung up that provide updated signatures and tune them to specific environments. However, even with these services, it’s still a lot of work to make sure everything is running smoothly.

An IDS will cause less disruption until properly tuned over an IPS – CyberMaxx typically recommends deploying in Detect only mode, tuning, and then when stakeholders approve, flipping it to block/prevent. It is always better to block an attack + alert on it than to simply alert and allow it to continue and business interruptions will be minimal when tuned properly.

Only the traffic that passes can be seen

We often see IDS/IPS implementations that provide a false sense of security to organizations because of poor network design. This is a serious problem that can lead to serious consequences.

Organizations frequently rely on unified threat management (UTM) systems, which work by routing all traffic through a central firewall. This allows the UTM system to monitor and scan all incoming and outgoing traffic for signs of malicious activity. By doing so, UTM systems can provide a high level of protection against a wide range of threats.

UTM Systems

A UTM setup is a great starting point for your security needs, but it leaves some major gaps in coverage.

A typical security setup does not include monitoring within security zones or between local workstations, servers, and remote workforces. This lack of monitoring can leave gaps in security that can be exploited by malicious actors.

Internal systems may have been breached by attackers who have compromised other systems, but unless the traffic from those systems passes through the IDS/IPS, it will not be detected.

IDS/IPS Used Effectively

There are weaknesses in any solution, but when the correct setups and configurations have been done properly, IDS/IPS are extremely effective.

To ensure that you’re getting the protection you need from these tools, take the following steps:

Get a Risk Assessment

Many organizations implement IDS/IPS simply to fulfill a compliance checkbox. But only having IDS/IPS in place may not be enough because most compliance requirements such as HIPAA, PCI, FISMA, etc. – require a risk assessment.

Vulnerability risk management is invaluable to quickly identify vulnerabilities and other risks organizational systems may be experiencing.

Bring IDS/IPS data into your SIEM for analysis

Security information and event management (SIEM) providers give you a way to monitor all activity in your environment and be alerted of any potential issues.

IDS systems generate logs, but do security teams often take the time to review them? By integrating IDS/IPS data into a SIEM solution, a better picture of what’s going on can be formed.

Most intrusion detection/prevention systems (IDS/IPS) generate a lot of false positives, which can be frustrating and overwhelming – this can lead to teams tuning out the noise.

Sprinkle in a little EDR

In today’s world, employees are often spread out across different locations. This can make it difficult to protect your company’s data since it is not always possible to rely on a corporate firewall.

Endpoint detection and response (EDR) is a security measure that bundles active detection and response into each workstation. This allows for quick and effective responses to any potential threats, as well as provides protection against workstation issues, IoT devices, BYOD problems, and more. Managed Detection and Response (MDR) or Managed Extended Detection and Response (XDR) systems provide an extra level of protection, making sure that all potential threats are caught and dealt with swiftly.

IDS/IPS + MDR/XDR = More Effective Security Coverage

Differentiating between well-tuned and poorly-tuned security tools can be difficult, but MDR/XDR provides the detailed information and correlations you need to make informed decisions.

In conclusion…

In the end…CyberMaxx thinks that IDS/IPS is still alive and well, even though the technology is now falling under Network Detection and Response (NDR). In fact, it’s a crucial component of our MAXX Network services we use to protect thousands of locations across the world for organizations needing our help.

There is a matter of making sure that everything is tuned well and that the technology is more effective when combined with EDR and SIEM technologies…not to mention matching it with a 24/7/365 SOC.

Have we convinced you that network monitoring is still a thing? Learn more about our services, specifically MAXX Network.

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