Cybersecurity Terms
Navigating cybersecurity can be complicated — but it doesn’t have to be. Here is a handy list of common cybersecurity terms to help you better understand this complex landscape.
Key Cybersecurity Concepts and Definitions
RaaS (Ransomware-as-a-Service)
A business model where ransomware developers create and lease out ransomware variants to affiliates or subscribers.
DDoS (Distributed Denial of Service)
Floods target systems with traffic, causing disruption.
DMARC (Domain-based Message Authentication, Reporting, and Conformance)
Verifies email authenticity to prevent spoofing.
Zero Trust
Mandates strict identity verification and access controls.
Common Cyber Threats and Attacks
Double Extortion
A malicious tactic that combines data exfiltration and data encryption to maximize the leverage and financial gains from ransomware attacks.
Spoofing
Falsifies information to impersonate legitimate entities.
Phishing
Deceptive tactics used to trick individuals into divulging sensitive information.
Cybersecurity Measures and Technologies
EDR (Endpoint Detection and Response)
A cybersecurity solution that provides continuous monitoring and collection of endpoint data to detect and respond to cyber threats in real-time.
Firewall
A network security system that monitors and controls incoming and outgoing traffic based on predetermined security rules.
Encryption
The process of converting data into a secure format to prevent unauthorized access.
VPN (Virtual Private Network)
A tool that secures internet connections and protects online identity by encrypting data and masking IP addresses.
Two-Factor Authentication
A security process that requires two methods of verification to gain access to an account, adding a second layer of protection.
Cyber Insurance Terminology Explained
Cyber Liability
Coverage that helps businesses mitigate risk exposure by offsetting costs involved with recovery after a cyber-related security breach or similar event.
Data Breach Coverage
Insurance that covers expenses related to data breaches, such as legal fees, notification costs, and credit monitoring services.
Incident Response
A structured approach to addressing and managing the aftermath of a cybersecurity breach or attack.
Advanced Cybersecurity Concepts for Professionals
IoT (Internet of Things)
A network of interconnected devices that communicate and exchange data over the internet.
Data Exfiltration
The unauthorized transfer of data from a computer or network.
Staying Up-to-Date with Cybersecurity Terminology
Cybersecurity is a rapidly evolving field. Insurance professionals must stay informed about emerging threats, technologies, and terminology to better assess and manage cyber risk.
Resources for Further Learning
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