Coalition Video Library
The Coalition Advantage:
A Look Inside the Breakthrough Data & Technology
Coalition is a pioneering cybersecurity and insurance company that offers Active Insurance, an integrated approach to digital risk management. The company provides comprehensive cyber insurance coverage tailored for businesses, combining broad insurance protection with AI-powered security tools and expert support. Coalition’s innovative approach aims to help organizations spot, prevent, and mitigate cyber threats through risk assessment, active protection, and rapid response capabilities.
The Coalition Advantage lies in its unique blend of technology and insurance expertise. The company utilizes Active Data Graph, which leverages artificial intelligence to analyze public and dark web data, providing a comprehensive picture of an organization’s cyber risk. This allows Coalition to offer more accurate coverage and provide targeted suggestions for addressing vulnerabilities. Additionally, Coalition’s industry-leading risk management platform, Coalition Control, integrates proprietary technology and AI to help detect, assess, and mitigate cyber threats throughout the life of a policy. In the event of an incident, Coalition offers quick access to expert incident response and claims support, helping businesses stabilize and restore their operations rapidly.
Improve Cyber Risk Management
Coalition Control is an AI-powered risk management platform that helps businesses proactively detect, assess, and mitigate cyber threats. It offers a comprehensive view of an organization’s digital footprint and personalized risk scores and prioritizes threats based on their potential impact. The platform includes an AI security co-pilot for understanding security findings and a checklist for enhancing cybersecurity posture. By leveraging advanced scanning technology, Coalition Control equips businesses with the tools to manage cyber risks effectively and prevent attacks.
Cyber Scenario: Law Firm
A lawyer fell victim to a cybersecurity scam while setting up a new security system. After unknowingly allowing malicious actors access to their computers, they noticed suspicious activity and contacted their insurance provider, Coalition. The company responded swiftly, shutting down the system and sending an analyst to investigate and secure the computer. The lawyer praised Coalition’s rapid and hands-on approach, expressing relief and confidence in their cybersecurity protection for the future.
Cyber Scenario: Small Biz CEO
The CEO of a small bicycle registration tech company recounts a cybersecurity incident where alleged white hat hackers made escalating demands and threats. Upon contacting their cyber insurance provider, Coalition, the threats were identified as fake, and a full IT audit was conducted. The CEO expressed relief and appreciation for the support, highlighting the value of such services for smaller businesses lacking extensive cybersecurity resources.
Small IT Teams
This video highlights the intense pressure on cybersecurity professionals, especially in organizations with limited budgets and small teams. It emphasizes the heavy responsibility on individual security experts, affecting their work-life balance. The speaker concludes by acknowledging the difficulty of security work and suggests that partnering with a reliable ally can significantly ease these challenges.
MDR: The Secret Sauce?
Coalition emphasizes the rapid pace of business initiatives and technology, urging strategic leaders to prioritize strategic thinking despite time constraints. Neglecting strategic planning will eventually have consequences. Coalition recommends MDR (Managed Detection and Response) as an important step for businesses, particularly stressing its significance for small businesses. The message underscores the importance of staying proactive and adopting essential security measures in a fast-paced business environment.
Business Continuity
Coalition emphasizes the critical role of IT leadership in business continuity planning. It asserts that excluding IT leaders from this process is a significant mistake, as they and their teams are central to recovery efforts in the event of a disaster. IT leaders should be “100%” involved in planning. Coalition also mentions an in-house incident response service, which conducts forensic investigations to ensure clients can safely resume operations after an incident. This highlights the importance of thorough incident response and forensic analysis in maintaining business continuity and security.
Proactive Cybersecurity
Coalition discusses the challenges that small to medium-sized organizations face in cybersecurity. Many such entities are overly focused on day-to-day reactive measures, such as responding to alerts, at the expense of proactive strategies. They argue that these organizations often neglect crucial aspects like threat intelligence and fail to fully utilize their existing resources to improve their security posture before incidents occur. Implementing Managed Detection and Response (MDR) would free up capacity within the organization to concentrate on other important business aspects beyond immediate security concerns.
Rising Alerts & Limited Resources
Coalition discusses the challenges small to medium-sized businesses face in managing cybersecurity alerts and notifications. Even with as few as 25 users, a company can experience a massive influx of daily alerts, particularly after implementing Endpoint Detection and Response (EDR) systems. Coalition highlights the issue of alert fatigue and the difficulty in processing and prioritizing these alerts, especially for small businesses. The problem is exacerbated when alerts occur outside of working hours, raising concerns about response times and overall security effectiveness businesses with constrained resources.
Exposed Admin Panels
Coalition highlights the security risks of exposed web-accessible admin panels, comparing them to unlocked doors advertised to potential intruders. It emphasizes the need for organizations to secure these panels through methods like network restrictions and zero-trust solutions. The transcript also introduces Coalition’s Active Insurance approach, which includes scanning for vulnerabilities and providing tools to help organizations manage cyber risks effectively.
Exposed Risky Panels MFA
Coalition explains the security risks of exposed login panels, emphasizing their vulnerability to cyberattacks. It highlights Coalition’s approach to addressing these risks through active insurance and its cyber risk management platform, Coalition Control. Coalition recommends two key security practices: keeping services updated and implementing multi-factor authentication. Coalition helps organizations assess, protect, and respond to cyber risks by providing technical details, support, and access to security vendors.
Risks, Dangers & Perils of RDP
Coalition warns about the security risks of using Remote Desktop Protocol (RDP) for remote access, especially when exposed to the public internet. It identifies RDP as a prime target for cybercriminals and recommends removing it from public access. Coalition suggests safer alternatives like VPNs with multi-factor authentication or zero trust network access and mentions Coalition’s services for helping businesses implement more secure remote access solutions.
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Coverage Summary
What is Cyber Insurance
Cyber insurance is a specialized insurance product designed to protect businesses against the financial losses and disruptions that can arise from cyber-related incidents, such as data breaches, ransomware attacks, and other cyber threats. This type of insurance typically covers costs related to data recovery, legal fees, notification of affected parties, regulatory fines, and business interruption losses. Businesses need cyber insurance to mitigate the financial impact of cyber-attacks, ensuring they can quickly recover and continue operations while minimizing the potential damage to their reputation and customer trust.
What does cyber insurance cover?
Cyber insurance typically covers costs related to data breaches, including data recovery, legal fees, notification of affected parties, and regulatory fines. It may also cover business interruption losses and expenses related to restoring business operations.
Why is cyber insurance important for SMBs?
Small businesses, often with potentially weaker security measures, are prime targets for cyber attacks. Cyber insurance is a crucial tool in managing the financial burden of such attacks, ensuring they can recover quickly and sustain minimal operational disruption.
How is the cost of cyber insurance determined?
Factors such as the size of the business, the industry, the amount and type of data handled, and the company’s existing cybersecurity measures influence the cost of cyber insurance. Higher-risk businesses or those with poor security practices may face higher premiums.
What are the exclusions in a cyber insurance policy?
Standard exclusions in cyber insurance policies include claims related to pre-existing breaches, acts of war or terrorism, and the failure to maintain minimum security standards. It’s essential for businesses to review policy details to understand specific exclusions and limitations.