DATA SECURITY

Cowbell Cyber Unites Cybersecurity Giants and Cyber Insurance Industry with Launch of Cowbell Rx

Cowbell Cyber | September 21, 2021

Cowbell Cyber, the industry's first AI-powered cyber insurance provider for small to medium enterprises (SMEs), today announced the launch of its cyber risk exchange marketplace, Cowbell Rx. Cowbell Rx closes insurability gaps by providing cyber insurance applicants with resources to meet eligibility requirements while also enabling active policyholders to continuously improve their organization's risk profile. This comprehensive list of partners is the first of its kind in the cyber insurance industry.

Cyberattacks continue to proliferate and damage business operations, with predictions that new attacks will happen every 2 seconds by 2031. However, cybersecurity and cyber insurance have traditionally operated in silos with insufficient coordination, resulting in a misalignment between cyber threats faced by an organization and the security measures to prevent them. Because of this, cyber insurers are tightening up insurability requirements for policyholders to obtain coverage or to renew existing cyber policies.

Cowbell Rx is the first marketplace provided by a cyber insurer to help businesses gain access to recommended partners that offer solutions to organizations in order to meet the minimal criteria to get cyber insurance coverage.

"Cybersecurity and cyber insurance must work in harmony to build an organization's cyber resilience. We are working with more than 20 of cybersecurity's biggest leaders to make this happen," said Isabelle Dumont, vice president of market engagement at Cowbell Cyber. "Cowbell Rx is a key component of Cowbell's closed-loop risk management initiative to continuously improve an organization's risk profile. Together with our partners, we are bringing streamlined access to today's top cybersecurity services and solutions straight to current and future policyholders."

"Cowbell is an innovator in the field of cyber insurance and we share their passion for data-driven risk assessment," said Eric Skinner, vice president of Market Strategy at Trend Micro. "We're pleased to be part of Cowbell's new marketplace. By bringing together Cowbell policyholders with cybersecurity experts like Trend Micro, we can all work together to ensure our mutual customers stay resilient in a world of constantly changing cyber threats."

"True cyber risk management is the combination of cyber insurance and effective cybersecurity operations," said Odin Olson, vice president of Alliances at Arctic Wolf. "Cowbell Rx is an excellent way to expose Cowbell's policyholders to some of the best cybersecurity service providers in the industry."

About Cowbell Cyber
Cowbell Cyber is dedicated to providing standalone, admitted individualized, and easy-to-understand cyber insurance for small and mid-size enterprises. In its unique AI-based approach to risk selection and pricing, Cowbell's continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue to less than 5 minutes. Cowbell Insurance Agency is currently licensed in 50 U.S. states and the District of Columbia.

Spotlight

There’s a reason companies have hired us to strengthen security in the aftermath of some of the biggest breaches in history. We know how to implement strong defenses that stop and contain attacks while protecting IT budgets and delivering a ?rst-class user experience. Get our recommendations for security best practices.


Other News
DATA SECURITY

CloudCover Continues to Move Into a New Era of CyberSafety with the Launch of CloudCover’s Cyber Liability

CloudCover | December 27, 2021

The cybersecurity insurance market is in trouble, fueled by a rapid increase in cyber attacks – up 486% from the beginning of 2018 through the end of 2021, according to Aon. As a result, insurers have little choice but to raise rates and scrutinize policy terms and conditions, as there’s no historical data to set policies and premiums like traditional insurance products. CloudCover, the company Reimagining CyberSecurity, is making strides to improve cyber safety by creating the first end-to-end cyber security technology and insurance platform. Today, the company announces the continued rollout of its suite of CloudCover insurance products with the launch of a new insurance offering: CloudCover Cyber Liability (CCCL) and Information Systems Business Interruption (ISBI) insurance. The release of the cybersecurity insurance coverage brings forward an entirely new market category: cybersecurity network and data insurance cover that utilizes the CC/B1 PlatformTM to obtain the data analytic set required to efficiently underwrite and set accurate premiums. CloudCover’s $1 Million Ransomware Warranty was launched in September 2021. Through its CCCL insurance, CloudCover will issue a $1 million cover per occurrence and a $10 million aggregate policy. This insurance option covers: First-party response costs, including any costs associated with the investigation and remediation of cybersecurity breaches, as well as payment for costs associated with notifying affected parties of the breach, Third-party liability and regulatory costs, including any costs associated with the defense of lawsuits, regulatory fines, and penalties in addition to the costs associated with any judgements rendered from those activities, and Cover for any ransom demanded by cyber criminals who have locked the insured company’s network or computer systems. Similar to the CCCL coverage, CloudCover will also issue $1 million coverage per occurrence and a $10 million aggregate policy for its ISBI coverage. The insurance policy provides payment for lost revenue in the event that a Distributed Denial of Service (DDoS) attack disrupts or compromises the insured party’s network. Both insurance covers are powered by CloudCover’s CC/B1 Platform, an advanced Intelligent Threat ManagementTM security solution. The CC/B1 relies on a patented AI/ML (automated intelligence/machine learning), X-NDR (extended network detection and response), SOAR (security, orchestration, automation and response) technology that empowers risk awareness, risk control, and risk transfer in near real time. The platform operates as a Firewall EverywhereTM, collecting data from all corners of an organization’s network, streamlining and utilizing machine learning to detect, analyze, and stop suspicious activity – all while using the collected network patterns with risk scoring and building actuarial models for incremental cybersecurity network insurance. “This marriage of cybersecurity technology and cyber insurance represents the creation of a new market,No other security vendor is able to provide cybersecurity risk scoring, risk event mitigation and mediation, accurate identification and threat stopping, and cyber risk insurance underwriting and auto-adjudication for claims in one platform. Using cybersecurity technology to learn about a company’s network and utilizing that data to create more accurate premiums and better coverage gives our industry the opportunity to better control cybersecurity insurance losses in the future, as we’ll be able to detect threats and issue micro-policies in a fraction of a second.” Stephen Cardot, founder and CEO of CloudCover In the months ahead, CloudCover plans to debut the final product in its initial CyberSafety Insurance Coverage portfolio: Cybersecurity Network Data Insurance, which will be the first insurance policy to insure data in motion with both first- and third-party liability coverage. This insurance, which will launch in February 2022, makes it possible for organizations to insure and thereby value their intangible assets, i.e., data, just as they would other company assets – something that’s been long seen as impossible in the FASB/GAAP industry. In order to purchase CloudCover’s insurance offerings, a company will need to have the CC/B1 Platform installed on its network in addition to completing CloudCover’s CyberSafety Registry. About CloudCover CloudCover is an AI-driven, virtual machine-learning cybersecurity platform. CloudCover has reimagined cybersecurity as a risk-predictive CyberSafety Platform – delivering real-time extended network detection and response through a patented, math-based security orchestration automated response risk aware/control solution. The CloudCover SOAR capability accumulates data between an organization’s diverse security technologies and environments and streamlines them into holistic actions on potential risks. The CC/B1 Platform provides an ever-evolving, protective security layer to your existing cybersecurity tech stack – meaning network threats are detected in near zero-second speed with near zero-threat accuracy. With CloudCover, the elusive “single pane of orchestration” capability of an organization’s network security isn’t a myth – it’s reality.

Read More

DATA SECURITY

Years of Growth Lead to Covail Acquisition by Cybersecurity Firm GoSecure

Covail | December 23, 2021

Covail, a Columbus-based cybersecurity and digital optimization firm founded by Central Ohio’s largest companies, is being acquired by a leading Managed Detection and Response firm. Covail announced today that it has agreed to be acquired by cybersecurity and managed detection and response (MDR) services provider GoSecure. The transaction is estimated to close in December 2021. Terms of the acquisition were not disclosed. “Since our founding six years ago as the Columbus Collaboratory, our goal has been to find ways to leverage collaboration to deliver successful AI, cybersecurity and cloud-based software solutions to our Fortune 500 clients,With this acquisition by GoSecure, our clients will now have access to an even broader set of capabilities and expertise thanks to our ability to leverage GoSecure’s class-leading capabilities and solutions. This will also help to further accelerate market penetration for our leading-edge security products and AI capabilities.” Covail CEO Matt Wald Covail, as Columbus Collaboratory, was born out of the aspiration of seven of the largest companies in central Ohio – American Electric Power (AEP), Battelle, Cardinal Health, Huntington Bank, L Brands (now Bath & Body Works), Nationwide, and OhioHealth – in partnership with One Columbus. The goal of the endeavor was to solve common automation, AI, and cybersecurity challenges across multiple industries. “The diversity and maturity of these founding companies made Covail the innovative, value-driven, solutions partner that it is today”, said Michael Krouse, SVP of Strategy and Transformation at Ohio Health and Chairman of the Covail Board. “Covail accelerated the cybersecurity and AI capabilities of the founding companies, upskilled critical tech talent for the region, and built a high-growth company that contributed to our region’s economic growth engine. It’s exciting to be able to leverage this strategic relationship to secure Columbus as the Midwest’s premier cybersecurity hub.” Through its ecosystem of collaborators and commercial partners, Covail’s technology teams executed over 1,000 engagements and collaboration sessions that solved complex business challenges using machine learning and the latest cyber defense practices. The firm’s work attracted top technology talent to the region, Wald said, and led to the development of software products that enabled advanced cyber threat detection and continuous risk management. GoSecure is a recognized cybersecurity leader and innovator. The company is the first and only to integrate endpoint, network and email threat detection into a single Managed Detection and Response (MDR) service. GoSecure plans to leverage Covail’s talent, proprietary technology, and client relationships to build a regional presence in Central Ohio that will help accelerate its momentum in the US market. GoSecure’s access to technology talent and partnerships made Columbus an attractive, economically viable location for a cybersecurity hub, Wald said. Wald said partnership with the original companies in the Covail firm will continue, along with an expansion to additional businesses with the goal of making Central Ohio a major U.S. cybersecurity operations center. About Covail Covail™ is a trusted solutions partner, enabling organizations to optimize through Intelligent Operations solutions that lower total risk and cost for key business functions, equipping them to transform from a position of strength. Since 2015, Covail’s experts in Cybersecurity, Artificial Intelligence (AI), and Automation have been delivering business results for leading Fortune 500 companies across industries. Trustworthy, Intelligent Operations. Accelerated. Learn more at covail.com. About GoSecure GoSecure is a recognized cybersecurity leader and innovator, pioneering the integration of endpoint, network, and email threat detection into a single Managed Detection and Response service. The GoSecure TitanTM platform delivers predictive multi-vector detection, prevention, and response to counter modern cyber threats. Titan MDR offers a detection to mitigation speed of less than 15 minutes, delivering rapid response and active mitigation services that directly touch the customers’ network and endpoints. For over 10 years, GoSecure has been helping customers better understand their security gaps and improve their organizational risk and security maturity through MDR and Advisory Services solutions delivered by one of the most trusted, skilled and experienced teams in the industry.

Read More

DATA SECURITY

Dataprise Expands its DRaaS and Data Protection Offerings with Acquisition of Industry Leader Global Data Vault

Dataprise | January 18, 2022

Dataprise, a leading strategic IT managed service provider, today announced the acquisition of Global Data Vault, a leader in Disaster-Recovery-as-a-Service (DRaaS), Backup-as-a-Service (BaaS) and modern data protection solutions. The addition of Global Data Vault creates one of the industry's broadest portfolios of integrated data protection and cybersecurity offerings to solve client's toughest business resilience, risk mitigation and compliance challenges. "Clients turn to Dataprise to be their one strategic IT partner, which requires we bring the broadest portfolio of services powered by the best technology and deepest expertise. Today, the mandate for a holistic cybersecurity and data protection strategy is a top priority for our clients, Global Data Vault is a powerful addition as they bring industry leading cloud-based data protection solutions that bolster our premier cybersecurity portfolio, top-notch employees, a strong Veeam partnership, and relentless focus on client success." Steve Lewis, CEO of Dataprise Founded in 2004, Global Data Vault is a recognized leader in the BaaS and DRaaS industry and holds the distinction of being a Platinum Veeam Cloud & Service Provider. Global Data Vault's mission is to protect organizations' critical data with modern data protection strategies to ensure business continuity and eliminate downtime. Headquartered in Dallas, TX, Global Data Vault protects hundreds of clients across the United States, Canada, and the United Kingdom. "Our clients are facing new challenges driven by dramatic changes in the cybersecurity threat landscape and evolution of IT strategies including cloud adoption," said Anthony Galley, Chairman of Global Data Vault. "Dataprise has an enviable portfolio of cybersecurity, managed IT services, and cloud services that enhance the value of our modern data protection and DRaaS offerings. Together with Dataprise we are perfectly positioned to provide our clients even greater value." "We're excited for the opportunity that joining Dataprise presents for our clients, employees and partners. We now have a much broader set of services, capabilities and resources all aimed at protecting client data and ensuring business continuity," said Will Baccich, CEO of Global Data Vault. This marks Dataprise's second acquisition as the company executes on its strategy to build the broadest managed services portfolio and give clients one strategic IT partner to solve it all. The recent acquisition of Wireless Watchdogs added a comprehensive Mobility Managed Services (MMS) and Mobile Device Management (MDM) portfolio aimed at solving mobile device, Internet of Things (IoT) and endpoint management challenges. About Dataprise Founded in 1995, Dataprise believes that technology should enable our clients to be the absolute best at what they do. This commitment to client success is why Dataprise is recognized as the premier strategic managed service and security partner to strategic CIOs and IT leaders across the United States. Dataprise delivers best-in-class managed cybersecurity, disaster recovery as a service (DRaaS), managed infrastructure and managed end-user services that transform business, enhance user experiences, and eliminate risks.

Read More

DATA SECURITY

Security Tops Retailers’ Wish Lists this Holiday Season

Futurex | November 17, 2021

Record sales expected in 2021, along with hackers; Futurex recommends point-to-point encryption for retailers to protect cardholder data BULVERDE, Texas, November 17, 2021 — As we enter the biggest retail season of the year, transactions are increasing, as are the numbers of hackers and skimmers — targeting shoppers’ cardholder data. The last thing retailers need to worry about is cyber threats that lead to ransomware or data breaches, as they welcome shoppers and juggle supply chain disruptions. Futurex, a leader in hardened, enterprise-class data security solutions, recommends retailers implement point-to-point encryption (P2PE) to encrypt cardholder data at the point of sale to keep it safe from malware that might be spying on network traffic and capturing credit card numbers. Futurex secures transactions for several of the nation’s largest retailers, protecting shoppers’ sensitive cardholder data and payment information. U.S. retail sales now through December are expected to grow 10.5% to a record $859 billion, compared to 2020, according to the National Retail Federation. Meanwhile, the FBI and the Cybersecurity and Infrastructure Security Agency (CISA) have warned about the increase of cyber threats, including ransomware, around the holidays. “Behind every gift, every purchase, and every payment, retailers and consumers depend on secure transactions to protect payment information,” said Ryan Smith, vice president, global business development, at Futurex. “As the critical security backbone of the global financial ecosystem, we work with the world’s largest retailers and financial institutions to safeguard data in transit and at rest." The use of hardware security modules (HSMs) in transaction processing is critical, as payment HSMs provide the cryptographic functions needed to support end-to-end data security, including encryption and cryptography key management. In a compliant P2PE environment, sensitive data is encrypted from the point of interaction and decrypted only within the secure boundary of a FIPS 140-2 Level 3 or PCI HSM-validated HSM. Learn more about point-to-point encryption. About Futurex For more than 40 years, Futurex has been a trusted provider of hardened, enterprise-class data security solutions. More than 15,000 organizations worldwide, including financial services providers and corporate enterprises, have used Futurex’s innovative hardware security modules, key management servers, and enterprise-class cloud solutions to address their mission-critical systems, data security, and cryptographic needs. This includes the secure encryption, storage, transmission, and certification of sensitive data. For more information, please visit futurex.com.

Read More

Spotlight

There’s a reason companies have hired us to strengthen security in the aftermath of some of the biggest breaches in history. We know how to implement strong defenses that stop and contain attacks while protecting IT budgets and delivering a ?rst-class user experience. Get our recommendations for security best practices.

Resources