Data in motion is the most valuable data a company has – and it’s also what carries the most risk. We offer a high-level overview of data in motion, why it’s hard to secure, and how we’re working to protect it with CloudCover’s just-launched Cybersecurity Network Data Insurance.
Cyberattacks can occur whether data is at rest or in motion; however, data in motion is the most vulnerable. In this blog, we break down why data in motion is so risky and how our Cybersecurity Network Data Insurance can protect it.
What is data in motion?
Data in motion – also known as data in flight or “hot data” – refers to data actively moving through and between devices and networks. Any data sent over email, uploaded to cloud storage, or exchanged through collaboration platforms like Microsoft Teams and Slack is data in motion. When the data arrives at its destination, it becomes data at rest.
Why is data in motion hard to secure?
When data is in motion, it is more difficult to manage network security and the individuals who have access to the data. When your data is at rest, you know where it is – at least in theory. You know who has access, and you can expand or limit that access as needed.
The shift to remote work has also increased the amount of data in motion, as well as the number of ways information is being shared and the number of devices employees are using to do their work. This creates additional vulnerability for network security.
And, if protecting data in motion is tough, insuring it has long been impossible – until now.
Is it possible to insure data in motion?
Yes. We just launched cyber insurance coverage for data in motion – a first in the industry. Our Cybersecurity Network Data Insurance (CNDI) is the final offering in our CyberSafety Insurance coverage portfolio – last year, we unveiled a $1 Million Ransomware Warranty in addition to Cyber Liability and Information Systems Business Interruption insurance coverage.
The CNDI coverage is powered by our CyberSafety CC/B1 Platform™. The CC/B1 provides complete risk visibility and risk control of your organization’s network security systems, protecting the entire network. We refer to it as having a Firewall Everywhere™. Using automated intelligent math-based learning (AI/ML), our platform maps your company’s network and data patterns, creating a continuous cycle of risk learning, risk mitigation and scoring.
The risk to a company’s network and data is measured by deep packet inspection. The more you measure the incremental risk to data, the more efficiently you can understand it and insure it.
Wouldn’t it be nice to know the value of your data?
Information in the form of digital data is your organization’s largest asset – but you won’t find it on a company balance sheet. That’s partly because it’s tough to incrementally quantify how much data is worth, unlike fixed assets like equipment, buildings, and property.
The data the CC/B1 incrementally collects from your network is used to set insurance premiums and make it possible for companies to place a tangible property value on that data just as they would other company assets. This is something that’s long been seen as impossible in our industry.
A new era for cybersecurity and CyberSafety Insurance
Our CNDI coverage, along with our other cyber insurance offerings, is over two decades in the making — a product of “daring to think differently” than other cybersecurity solution providers. It’s available to all organizations that use our CC/B1 Platform.
This type of coverage is desperately needed. We expect the cybersecurity insurance industry will continue its transition to increased premiums and lower limits to its policyholders.
Existing cyber insurance offers reactive risk management, not proactive threat stopping. An end-to-end cybersecurity insurance solution like the CyberSafety Insurance Platform makes it possible for companies to practice risk aware, risk control, and risk transfer for all of their network data – whether in motion or at rest.
Companies not currently using the CC/B1 are encouraged to fill out CloudCover’s CyberSafety Registry, an assessment of an organization’s cyber risk. The registry is the first step of the insurance application process and will help to assess an organization’s current cyber risk. To learn more or get started, visit cloudcover.cc/cybersafety-registry.
