So you’ve installed antivirus protection on your work computers. That means you’re safe and secure from all cyber threats, right?
Not exactly…
Here’s why: Antivirus protection is built to address viruses that it already knows. It can’t learn or adapt to the constantly evolving threats. If a virus isn’t already “known,” there’s a good chance that your antivirus protection won’t pick it up.
And that’s if we assume that the only threat comes in the form of a virus. What about a phishing scam that tricks one of your employees into entering their credentials on a fake site? A hacker could then use the login info to access your systems. Your antivirus protection wouldn’t even notice, much less respond to the threat.
This is concerning, considering that the average reported cyberattack cost is about $25,600 for small businesses of 250 employees or less.
Can you cover the gaps with insurance?
Many businesses are turning to cyber liability insurance to cover the financial fallout of a cyber attack, but we caution you against this for several reasons. Not the least of which, is that no amount of insurance coverage can repair the damage a breach would have on your brand and the trust of your customers.
Cybersecurity insurance is a relatively new product, having only come on the market within the last few years. Combine that with rapidly evolving threats and the increasing frequency of data breaches, and insurance companies have realized that this is a risky product for them to offer. This has caused coverage to become significantly more expensive. Providers are also requiring clients to implement more stringent cybersecurity measures to even qualify for coverage.
Enter Managed Detection and Response
Managed Detection and Response or MDR is like antivirus protection but on steroids. Usually a combination of managed services and technology, it functions as an additional layer of protection against threats trying to sneak past your internal controls. Cybersecurity specialists audit your systems for weaknesses, implement safety measures to mitigate them and provide 24/7 monitoring.
MDR often includes:
- Dedicated security analysts
- Immediate response to an attempted attack
- Investigations should an event be detected
- Detailed analytics and tracking
- Reporting for proof of regulatory compliance
- Advanced security measures and artificial intelligence to identify new threats
In addition to being a much stronger level of protection, Managed Detection and Response can be more cost-effective than having one or more cybersecurity specialists on your payroll. It also frees up your internal staff to focus on day-to-day operations.
Need help?
If you’re looking to offload your cybersecurity concerns or simply to augment your internal staff, consider partnering with some of ForceNow’s analysts. We monitor, detect, and investigate security threats, reducing their duration from months to minutes. Our cybersecurity services also allow you to qualify for comprehensive, affordable cyber risk insurance plans through our partners.
