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.
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.
Axonius | January 20, 2022
Axonius, the leader in cybersecurity asset management, today unveiled Axonius SaaS Management, a new comprehensive solution that helps security, IT, finance, and risk teams control the complexity, cost, and risk of software as a service (SaaS) with a single source of truth into their SaaS application landscape.
As businesses rapidly increase consumption of SaaS applications, they face acute IT, security, and business challenges. The rate of SaaS adoption makes manual approaches to gaining a credible SaaS asset inventory woefully inadequate and exposes extremely difficult visibility challenges into both known and unknown SaaS applications. Compounding these visibility challenges, companies struggle to identify how data flows between apps, manage a myriad of configurations, and close security gaps, as well as track licensing and spend, across hundreds sometimes thousands of SaaS applications.
Axonius SaaS Management lets customers address the operational and financial challenges of SaaS asset management, as well as the security and risk gaps, all via a seamless, nonintrusive deployment that delivers actionable insights from day one. This is the first product delivered by AxoniusX, the company’s innovation-focused business unit that launched in June 2021.
“Over the past few years, we’ve seen tools emerge that address some aspects of SaaS management from either the business side or SaaS security posture management, but these approaches still leave companies with gaps in visibility and siloed information,We’ve built on our unique approach to cybersecurity asset management to deliver the same results for SaaS applications. With our rich history in building and maintaining API integrations with SaaS solutions, Axonius has the expertise and market traction to bring massive value to organizations struggling with the complexity of modern apps and infrastructure.”
Amir Ofek, CEO and co-founder of AxoniusX
Axonius SaaS Management uses adapters (API connections to data sources) and proprietary SaaS discovery tools to create a detailed inventory of all SaaS applications, permissions, and data flows. By connecting to all layers of the SaaS application stack, the solution discovers both the SaaS applications known to and sanctioned by organizations as well as shadow and unmanaged apps. This approach provides comprehensive visibility into all data types and interconnectivity flows, identifies misconfigurations and data security risks, and delivers actionable insights for better IT management and cost optimization.
Axonius SaaS Management integrates with Axonius Cybersecurity Asset Management to provide a comprehensive platform that unifies all digital assets from SaaS apps to devices, user accounts, cloud assets, and more so customers can easily and effectively control complexity across the entire IT environment.
Axonius gives customers the confidence to control complexity by mitigating threats, navigating risk, automating response actions, and informing business-level strategy. With solutions for both cyber asset attack surface management (CAASM) and SaaS management, Axonius is deployed in minutes and integrates with hundreds of data sources to provide a comprehensive asset inventory, uncover gaps, and automatically validate and enforce policies. Cited as one of the fastest-growing cybersecurity startups, with accolades from CNBC, Forbes, and Fortune, Axonius covers millions of assets, including devices and cloud assets, user accounts, and SaaS applications, for customers around the world.
CyCognito | December 29, 2021
CyCognito, the leader in external attack surface management and protection, today announced a strategic go-to-market alliance with Carahsoft Technology Corp., the Trusted Government IT Solutions Provider. Under the agreement, Carahsoft will serve as CyCognito’s first Public Sector Distributor. The new relationship expands and deepens CyCognito’s reach across and within the Public Sector through Carahsoft’s NASA Solutions for Enterprise-Wide Procurement (SEWP) V, Information Technology Enterprise Solutions – Software 2 (ITES-SW2), OMNIA Partners, National Association of State Procurement Officials (NASPO) ValuePoint, and National Cooperative Purchasing Alliance (NCPA), as well as through Carahsoft’s reseller partners.
“Together with our channel partners, CyCognito is using its platform, program and best practices to help the Public Sector establish a stronger security posture and proactively identify, protect and prevent cyberattacks from happening,” says Channel Chief and CyCognito’s Worldwide Sales Leader Lori Cornmesser.
Most of today’s cyberattacks continue to intrude through external attack vectors. CyCognito’s innovative platform automates the discovery, multi-factor security testing and risk prioritization of all externally-exposed assets in an organization’s extended IT ecosystem. Once cyber threats are identified, CyCognito orchestrates data sharing to automatically start the remediation process by creating an incident response ticket. The platform integrates its findings and intelligence into existing vulnerability lifecycle management processes through channels such as Slack, PagerDuty, ServiceNow, and several additional platforms. This proven and proactive layer of automated security ensures an organization’s entire attack surface is protected quickly and efficiently when risks are detected.
“Empowering organizations to find and eliminate the paths attackers easily exploit is a vital tactic within any surface management and protection strategy,Prevention and remediation must remain top of mind for channel partners and IT decision makers, especially those working within the Public Sector where the stakes are high and the impact of a single breach has the potential to span states, the nation and even the globe.”
Rob Gurzeev, Founder and CEO, CyCognito
CyCognito and Carahsoft are enabling forward-thinking security value-added resellers (VARs), managed service providers (MSPs), global systems integrators (GSIs) and managed security services providers (MSSPs) with a new and enhanced lineup of SLED and Federal-focused sales and marketing assets. Offered at no charge, these business-building assets are readily available within CyCognito’s partner portal and include how to market, how to pitch and position, and how to demo the technology.
“Agencies today are under tremendous pressure to protect their customers from cybercrime,” said Michael Shrader, Vice President of Intelligence and Innovative Solutions at Carahsoft. “CyCognito’s leading platform preempts attacks and helps businesses satisfy key elements of most common security frameworks and regulatory compliance standards. We look forward to working with CyCognito and our reseller partners to help educate and better enable the Public Sector with the knowledge, specialization and technology needed to properly assess their cyber risk and eliminate exposure.”
CyCognito solves one of the most fundamental business problems in cybersecurity: seeing how attackers view your organization, where they are most likely to break in, what systems and assets are at risk and how you can eliminate the exposure. Founded by national intelligence agency veterans, CyCognito has a deep understanding of how attackers exploit blind spots and a path of least resistance. The Palo Alto-based company is funded by leading Silicon Valley venture capitalists, and its mission is to help organizations protect themselves from even the most sophisticated attackers. It does this with a category-defining, transformative platform that automates offensive cybersecurity operations to provide reconnaissance capabilities superior to those of attackers.
Carahsoft Technology Corp. is The Trusted Government IT Solutions Provider, supporting Public Sector organizations across Federal, State and Local Government agencies and Education and Healthcare markets. As the Master Government Aggregator for our vendor partners, we deliver solutions for Cybersecurity, MultiCloud, DevSecOps, Big Data, Artificial Intelligence, Open Source, Customer Experience and Engagement, and more. Working with resellers, systems integrators and consultants, our sales and marketing teams provide industry leading IT products, services and training through hundreds of contract vehicles.
Veracode | March 30, 2022
Veracode, a leading global provider of application security testing solutions, has released new findings that show the public sector has the highest proportion of security flaws in its applications and maintains some of the lowest and slowest fix rates compared to other industry sectors. Analysis of data collected from 20 million scans across half a million applications revealed these sector-specific findings as part of Veracode’s annual report on the State of Software Security (SOSS).
"Public sector policy makers and leaders recognize that dated technology and vast troves of sensitive data make government applications a prime target for malicious actors. That’s why the White House and Congress are working together to update regulations governing cybersecurity compliance. In the wake of May 2021's Executive Order to improve the nation's cybersecurity and protect federal government networks, the U.S. Office of Management and Budget, Department of Defense and the White House have issued four memos addressing the need to adopt zero trust cybersecurity principles and strengthen the security of the software supply chain. Our research confirms this need.”
Chris Eng, Chief Research Officer at Veracode
No Time to Waste: Fix More Flaws Faster
Veracode’s research found that compared to other industries, the public sector has the highest proportion of applications with security flaws, at 82 percent. When it comes to how quickly organizations fix flaws once detected, the public sector posts the slowest times on average—roughly two times slower than other sectors. The research also revealed that 60 percent of flaws in third-party libraries in the public sector remain unfixed after two years, which is double that of other sectors and lags the cross-industry average by more than 15 months. Finally, with only a 22 percent fix rate overall, the public sector is challenged to keep software supply chain attacks from impacting critical state, local, and educational applications.
Eng continued, “Organizations in this sector must act with urgency. They can improve their secure DevOps practices significantly by using multiple types of scanning—static, dynamic, and software composition analysis—to get a more complete picture of an application’s security, which in turn will help them to improve remediation times, comply with industry regulations, and make the case for increasing application security budgets.”
High Severity Flaws Are Priority One
Demonstrating a positive trend, the public sector ranks highly when it comes to addressing high severity flaws. The research reveals that government entities have made great strides to address high severity flaws, which appear in only 16 percent of applications. In fact, the number of high severity flaws has decreased by 30 percent in the last year alone, suggesting that developers in the sector increasingly recognize the importance of prioritizing flaws that present the greatest risks. This is encouraging and may reflect growing understanding of new software security guidelines, such as those outlined in the U.S. Executive Order on Cybersecurity and the U.K. Government Cyber Security Strategy 2022 – 2030.
Eng closed, "Recognizing that time is of the essence, public sector leaders are beginning to set timelines. For example, in “Moving the US Government Toward Zero Trust Cybersecurity Principles”, Shalanda Young has set a deadline of September 30, 2024 for all US federal agencies to meet specific cybersecurity standards. We think that the progress made against high security flaws is a great starting point and support all public sector agencies who seek to gain better control over their software supply chains."
About the State of Software Security Report
The twelfth volume of Veracode’s annual report on the State of Software Security (SOSS) examines historical trends shaping the software landscape and how security practices are evolving along with those trends. This year’s findings are based on the full historical data available from Veracode services and customers and represent a cross-section of large and mid-sized companies, commercial software suppliers, and open-source projects. The report contains findings about applications that were subjected to static analysis, dynamic analysis, software composition analysis, and/or manual penetration testing through Veracode’s cloud-based platform.
Veracode is a leading AppSec partner for creating secure software, reducing the risk of security breach, and increasing security and development teams’ productivity. As a result, companies using Veracode can move their business, and the world, forward. With its combination of process automation, integrations, speed, and responsiveness, Veracode helps companies get accurate and reliable results to focus their efforts on fixing, not just finding, potential vulnerabilities.