SOFTWARE SECURITY
Thrive | May 20, 2022
Thrive, one of the leading Managed Security Services Providers (MSSPs) in the world, has made a significant investment to upgrade their 24x7x365 eyes-on-glass Security Operation Center (SOC) by integrating a Security Orchestration, Automation, and Response (SOAR) engine. The SOAR capabilities will enable the Thrive global security team to better navigate today's complex, risk-laden environment for clients via tool aggregation and coordinated response, unified operations, reduced alert fatigue, and Artificial Intelligence (AI). This will result in a significant reduction of incident response times for client threats and provide higher quality information for the Thrive SOC to combat intricate cyber risks in real time.
By 2025, the amount lost to cyber theft is expected to reach $10.5 trillion annually, which is the single greatest transfer of wealth in history, according to a report from AT&T. These glaring statistics indicate why cybersecurity has become imperative in the world of commerce.
"Cybersecurity threats and vulnerabilities are constantly multiplying, due to not only more sophisticated social engineering but also a rise in micro-ransomware incidents, That means vigilance against attacks of all kinds must also evolve. Incorporating a SOAR into our robust global security operations unit will allow Thrive clients to have a stronger defense system in place against cybersecurity attacks and enable our team to respond more expeditiously to any issues should they arise."
Mike Gray, CTO of Thrive
Thrive's integrated managed cybersecurity solutions provide a proactive and expert approach to security management for identifying and remediating security issues. Powered by next-gen technology, proven frameworks and service-driven experts, Thrive's unified cybersecurity platform enables Thrive's 24x7x365 SOC to automatically address critical security issues without client intervention. By creating a stress-free experience that solves for the technical complexity and talent shortage mid-market enterprises face, Thrive's cybersecurity solutions fortify the digital transformation initiatives that propel business growth.
About Thrive
Thrive is a leading provider of NextGen managed services designed to drive business outcomes through application enablement and optimization. The company's Thrive5 Methodology utilizes a unique combination of its Application Performance Platform and strategic services to ensure each business application achieves peak performance, scale, uptime, and the highest level of security.
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DATA SECURITY
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.
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DATA SECURITY
HUB Security | December 17, 2021
HUB Security, a secure computing solutions provider, announced today its Docker Digital Twin product to better protect, authenticate, and verify traffic created by Docker, a highly used platform for package containment.
The HUB Security Docker Digital Twin enforces access control and provides governance processes, such as approvals for sensitive actions, on incoming Docker traffic. It blocks attack vectors involving the loss or theft of credentials, vulnerabilities, and unauthorized access.
Docker creates virtual containers (called packages) that allow applications and their dependencies to run seamlessly on any operating system. It is used by some 55% of professional developers daily and is the leading solution for cloud-based SaaS platforms. It is also ubiquitous in large enterprises, financial institutions, and public clouds, as well as defense equipment, servers, and data centers. Docker packages, because of their extensive use, are often the target of cyber security threats from hackers.
"We want to create a seamless experience for our customers when it comes to security,Our new system enables multi-layered security processes for the entire compute stack with Docker being part of it. The solution is also future proof, meaning clients can rest assured for years that their systems are safe and secured."
Andrey Iaremenko, HUB Security's CTO
The Docker Digital Twin solution will be incorporated into existing HUB Security technology without changing existing operational controls and services. The product's complete remote update capabilities will provide full support for any and all Docker versions and security capabilities.
About HUB Security
HUB Security was established in 2017 by veterans of the 8200 and 81 elite intelligence units of the Israeli Defense Forces. The company specializes in unique Cyber Security solutions protecting sensitive commercial and government information. The company debuted an advanced encrypted computing solution aimed at preventing hostile intrusions at the hardware level while introducing a novel set of data theft prevention solutions. HUB operates in over 30 countries and provides innovative cybersecurity computing appliances as well as a wide range of cybersecurity professional services worldwide.
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DATA SECURITY
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.
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