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New York, NY, July 27, 2023 – QBE North America today announced the launch of a cyberinsurance program with new MGA, Converge, acting as program administrator. The program will be broken down into two separate distribution structures, each with a distinct revenue focus and cyber security data access formation.
Related: Why we’re in the Golden Age of cyber espionage. Enterprises have dumped small fortunes into stocking their SOCs (security operations centers) with the best firewalls, anti-malware suites, intrusion detection, data loss prevention and sandbox detonators money can buy. But this hasn’t done the trick.
Eventually, governments will address the risk by beefing up security and purchasing cyberinsurance, which go hand in glove. Bandura Cyber complements existing firewalls and intrusion detection and prevention systems. Ransomware attacks against local government entities at some point will run its course.
Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyberinsurance. To enhance security, organizations should block direct internet access to RDP services using firewalls and restrict access to internal networks and VPNs.
The company also maintains an extensive list of third party integrations (firewalls, SIEMs, MDM/EMM, Network Access Devices, etc.). Users report a 25,000 concurrent user appliance can “ easily handle between 250 and 300 authentications per second.”
Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyberinsurance. To enhance security, organizations should block direct internet access to RDP services using firewalls and restrict access to internal networks and VPNs.
Chris Gray of Deep Watch talks about the view from the inside of a virtual SOC, the ability to see threats against a large number of SMB organizations, and the changes to cyberinsurance we’re seeing as a result. We do the same thing for firewalls. cyberinsurance as a whole was changing heavily.
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