Cyber insurance plus SASE is a powerful combination for thwarting cyberattacks.
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By definition, SASE is a type of network architecture that combines WAN (Wide Area Network) capabilities with advanced security features.
In order to securely and effectively route Internet and cloud computing traffic, the solution integrates a number of security services, such as Zero Trust Network Access, Cloud Access Security Brokers, Secure Web Gateways, and Firewall-as-a-Service, directly into the WAN.
A SASE approach enhances an organization’s security regardless of the user’s location because the traffic is secured at the source.
The SASE framework consolidates various security productions into a single cloud platform, which further reduces complexity.
This improves network performance and lowers operating costs, particularly for multi-site businesses that are starting to depend more and more on cloud computing services.
Phishing is still a problem even with strong defenses.
Even with this level of security, the network is vulnerable to successful cyberattacks that can cause havoc at any time.
This frequently happens as a result of phishing attacks, in which a perpetrator deceives internal users into granting them access to the network. According to Check Point’s 2023 cybersecurity report, 83% of cyberattacks originate via email.
Here, too, a SASE approach can offer some protection, but hackers can also target users directly in order to obtain their login credentials.
Should they succeed, the company is probably going to fall prey to ransomware or cyberespionage.
A 2022 study by the Cyber Rescue Alliance claims that almost every business worldwide has experienced a attack using phishing at least once.
In 12 percent of cases where the attack was successful, the attacker was able to access every bit of the company’s data for over a year prior to the ransomware encrypting it.
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Cyber insurance steps in after a cyberattack against a business. It assists in repairing the damage and pays for all costs associated with thwarting the cyberattack.
A report published by the insurance provider Hiscox claims that a number of businesses worldwide have also experienced bankruptcy as a result of a cyberattack.
However, before they will pay the expenses, cyber insurers demand a specific degree of network security. This is the exact scenario where the benefits of the SASE approach—which also extend to the NIS2 directive—show themselves.
SASE implementation is, for the most part, a long-term solution for satisfying insurer requirements. In the event of an attack, it guarantees that the insurer will take control and pay for the damages while drastically lowering the possibility of a cyberattack succeeding.
In this case, the company’s finances are safeguarded by cyber insurance, and SASE monitors technical protection.
Even with the best security architecture in place, employees are still a vulnerable point that hackers can exploit to obtain credentials like usernames and passwords. Hackers typically don’t need to break into anything.
They just use the credentials they stole to log in, do their damage, encrypt, and steal data. Although it is helpless in this situation, cyber insurance will shield the company from the effects of such an attack.
What expenses is cyber insurance going to cover?
Up to a coverage cap specified in the contract, cyber insurance pays for the direct harm brought on by the cyberattack. This usually covers the price of recovering the lost data and the IT infrastructure.
It also pays for the expenses of expert evaluation and evidence preservation. Expert appraisal frequently necessitates at least a brief outage of the IT infrastructure. Cyber insurance also covers the costs in this case.
In addition, it will pay for all costs associated with containing the damage as well as indemnifying third parties for the attack’s financial effects. Expenses for a call center to notify suppliers and customers of the situation may also qualify.
Legal counsel costs will be reimbursed by cyber insurance to evaluate the attack’s legal ramifications for data protection, third party compensation, and the company’s legal duty to disclose information. The expenses are high and challenging to project in advance.
Before signing any cyber insurance policy, the business must implement a certain level of IT protection. SASE infrastructure more than satisfies this requirement.
In what ways can a SASE approach defend against online attacks?
Modern technology is typically used in the provider’s SASE model to optimize protection against cybercrime and make the most of the
IT security infrastructure. Complete cloud service credential protection and defense against phishing attacks are crucial elements.
It also includes efficient firewalls, patch management, and a zero-trust method for identifying users who are working remotely or utilizing portable electronics.
The NAC (Network Access Control) in the SASE model controls who can access company data and under what circumstances.
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