As an incident response provider, CrowdStrike deals with active under attack situations day in, day out — helping customers mitigate the attack, and getting their web property and network back online. Many times, precious time is wasted in trying to figure out which security vendor to reach out to and how to get hold of the right team. Cloudflare’s partnership with CrowdStrike not only enables rapid referral of organizations under attack, but helps customers mitigate the risk to their business operations.
As cyberattacks increase in volume and severity, the number of businesses selecting cyber insurance has surged from 26% in 2016 to 47% in 2020. As a result, some insurance companies have had to raise premiums to cover their costs. In the second quarter of 2021 alone, cyber insurance premiums rose by more than 25%. Now rising costs and more stringent requirements from insurers have left some businesses without options, unable to access or afford policies. As a result, a new generation of insurance startups has arisen over the past five years to rethink how cyber risk is underwritten, infusing security expertise into the insurance product.
When a business is under attack every minute is important. Incident response companies work hard to get a network back online or restore traffic to a website after an attack. Cloudflare and CrowdStrike's partnership helps enable rapid referral of organizations under attack.
In light of the rising frequency and severity of attacks (ransomware, DDoS), cyber risk partnerships are a vital tool to mitigate common threat vectors.
Organizations under attack obtain rapid referral to incident response providers, who help actively investigate and mitigate attacks.
Encourage the most vulnerable businesses to adopt proper security standards to proactively address potential vulnerabilities.
“The speed in which a company is able to identify, investigate, and remediate a threat heavily determines how it will fare in the end. Our partnership with Cloudflare provides companies the ability to take action rapidly and contain exposure at the time of an attack, enabling them to get back on their feet and return to business as usual as quickly as possible.”
Senior Vice President, CrowdStrike Services