MSP and ransomeware

cscott3 · 2019-10-29T15:18:29.000Z

Currently looking into MSP space and concerned about all the Crypto|Ransomware threats happening on a regular basis.

What happens if you as an MSP is hacked or your access to the cloud is hacked? All the connectivity to your clients suddenly at their hands. What is there contractually to stop this? Insurance?

shaunmitchell2 · 2019-10-29T15:40:28.000Z

You might be able to buy insurance to compensate your customers against loss. However you won’t have a business once it’s known that you were the cause of your customers being attacked.

gerardbeekmans · 2019-10-29T15:48:25.000Z

As Shaun alluded to, Cyber Insurance probably is what you are looking for. This has been discussed a few times here on SW. Some recent discussions are:

Cyber Insurance and Cyber Security Partnership Security

Hi! Are there any MSPs out there who have partnered with Insurance firms who offer cyber insurance? I am keen to understand examples of where this has worked. For example, the insurer would recommend your IT services to ensure the client is proactively putting measures in place to prevent cyber crime, and the insurer is the back up should there be a breach. I am thinking about this from a business development standpoint to grow the business. Keen to get peoples thoughts and input! Chee…

Cyber Insurance - Hands on experience? Security

I am generally tasked with review on this topic once a year. As more organizations “close to home” have been hit with ransomware, I am once again asked to review and recommend. The last time I reviewed, I found the questionnaire very over the top for an average SMB from a policy and implementation standpoint. It really seems like they are just laying the ground work right up front to deny claims. Additionally, I found the fine print of what the do not cover worded as such that in my mind the in…

Do Vendors have insurance? Best Practices & General IT

I was told by a gentleman in another industry that vendors that work for townships and such carry insurance in case they royally screw up something up. It got me thinking about the nature of my job, do IT Vendors also carry said "Vendor Insurance"?

melissa-knowbe4 · 2019-10-29T15:48:40.000Z

Hey OP, if you’re looking for something to test your network you can try the free Ransomware Simulator that tests over 16 infection scenarios to ensure your network is safe.

Hope this helps!

bagaudin-acronis · 2019-10-29T15:57:19.000Z

These Reddit threads will also provide some insights:

https://www.reddit.com/r/msp/comments/c2w7ui/ransomware_prevention/

https://www.reddit.com/r/msp/comments/az5sti/cybersecurity_insurance/

zoidbergg · 2019-10-29T16:27:57.000Z

You should be using recommended best practices for security and use remote connectivity apps that support 2FA. I work for a MSP and we 2FA everything now. Good back-ups are the best protection for ransomware, for you and your clients.

zoidbergg · 2019-10-29T16:30:40.000Z

Melissa (KnowBe4):

Hey OP, if you’re looking for something to test your network you can try the free Ransomware Simulator that tests over 16 infection scenarios to ensure your network is safe.

Hope this helps!

Have used your phishing tests in the past, great products.

eugenebrowne3970 · 2019-10-29T16:41:29.000Z

You should store your customer password details in an encrypted form such as Keepass. You can keep the password locked away physically

anton-msp360 · 2019-11-02T17:51:06.000Z

2FA or master password for accessing management interfaces.
Storing backups off-site in addition to local ones (ideally 3-2-1 backup rule). Why off-site? Usually it requires using a protocol that’s not accessible without backup software (like AWS S3, Wasabi or B2).
Sufficient backup depth to have enough time to roll back systems before ransomware infection happened.

Thanks

rupesh-lepide · 2019-11-06T04:27:42.000Z

There’s already been several good suggestions here.

A good disaster recovery plan, responsible employees, and robust backups will get you through relatively unscathed every time.

User awareness is the first step to identifying and dealing with attacks - Employee Training Techniques That Stick

Use multi-factor authentication - why you should use it

Regularly back up - Backing up data is one of the information security best practices that has gained increased relevance in recent years. With the advent of ransomware, having a full and current backup of all your data can be a lifesaver.

It might be good to have a read up about how to detect and prevent the spread of ransomware .

williamprice3 · 2019-11-27T15:27:45.000Z

One approach to this is to separate managed IT and security services between an MSP (IT) and a MSSP (Security). With a setup like that, the separation of duties can provide a “buffer”

Also, you need to be sure that you understand the solutions the MSP is putting in place. You should look to know that they are following a recognized security framework like NIST or CIS. Then, be sure that they are using a layered approach. Two Factor Authentication is also another important control.