Calculating risk in cybersecurity involves assessing the likelihood and potential impact of a security incident. Take the following steps to calculate cyber risk.

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Attack surface management refers to the process of identifying, analyzing, and reducing the potential vulnerabilities or entry points that attackers could exploit to gain unauthorized access to an organization's systems, applications, or data. It involves taking a comprehensive inventory of all assets, both internal and external, that could be targeted by an attacker and then systematically evaluating and mitigating any security risks associated with them.

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Attack surface monitoring is the process of continuously monitoring an organization's digital assets and identifying potential vulnerabilities that could be exploited by attackers. The attack surface refers to all the entry points that an attacker could use to gain unauthorized access to a system, such as open ports, outdated software, misconfigured settings, or insecure web applications. By monitoring the attack surface, security teams can detect and assess security risks, prioritize security tasks, and take proactive measures to reduce the likelihood of successful attacks. This includes conducting regular vulnerability assessments, penetration testing, and analyzing network traffic to identify potential threats and attacks.

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Exposure management is a risk management technique used by businesses and individuals to identify, measure, and control their exposure to various risks. This can include financial risks such as currency fluctuations, interest rate changes, and market volatility, as well as non-financial risks like legal and regulatory compliance, operational risks, and reputational risks. Exposure management involves identifying potential risks and evaluating their potential impact on the organization or individual. This can involve analyzing historical data, market trends, and other factors to predict the likelihood of a particular risk occurring. Once risks are identified, exposure management strategies are developed to minimize or mitigate the impact of those risks.

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Managed Detection and Response (MDR) is a proactive cybersecurity service that helps organizations protect their digital assets from cyber risk. With the rising sophistication of cyber threats, MDR is a critical defense mechanism to safeguard organizations’ digital infrastructure and sensitive data. An MDR solution provides a dedicated team of experts who continuously monitor an organization’s network for potential threats. These experts use cutting-edge technology and tools to identify and respond to any suspicious activity that might indicate a cyber attack. 

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Managed Detection and Response (MDR) is a cornerstone of modern cybersecurity and insurance, helping organizations stay one step ahead of cyber threats and improving the resilience of their digital operations. It’s a vital InsurSec solution that provides protection amid the ever-increasing sophistication of cyber threats. Because MDR enhances an organization's security posture and helps reduce the risk of cyber attacks, it’s an essential component of comprehensive risk management. 

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Vendor risk refers to the potential risks that an organization faces when working with third-party vendors, suppliers, or service providers. These risks can arise due to a variety of factors, including inadequate security measures, operational disruptions, compliance failures, data breaches, financial instability, and reputational damage.

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Vulnerability management is the process of identifying, evaluating, prioritizing, and mitigating security vulnerabilities or weaknesses in computer systems, networks, applications, and other IT assets. The goal of vulnerability management is to reduce the risk of security breaches by proactively identifying and addressing potential vulnerabilities before they can be exploited by attackers.

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Operational technology (OT) refers to the hardware and software systems used to control and monitor industrial processes, such as manufacturing, energy production, transportation, and building automation. Unlike traditional IT systems that are primarily designed for data processing and communication, OT systems are designed to control physical processes and devices.

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Port security is a network security feature that allows you to control access to your network by limiting the number of devices that can connect to a specific physical port on a network switch. With port security, you can specify which devices are allowed to connect to a particular port based on their Media Access Control (MAC) addresses. Once you set up port security, the switch will only allow devices with authorized MAC addresses to connect to that port.

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The answer to this question depends on your specific security requirements and network configuration. In general, you should close ports that are not necessary for the normal operation of your system or network. Keep reading to discover ports that are commonly recommended to be closed or filtered.

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RDP stands for Remote Desktop Protocol, which is a proprietary protocol developed by Microsoft that allows users to remotely connect to a computer running Windows operating system from another computer over a network. Using RDP, a user can access all the applications, data, and resources of the remote computer as if they were sitting in front of it. This can be useful for remote administration, remote support, and remote working scenarios.

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A secure email gateway (SEG) is a type of software or service that is used to secure and manage email communications for an organization. It is designed to protect against threats such as phishing attacks, malware, spam, and other types of email-borne threats that can compromise the security of an organization's email systems.

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The cost of a data breach can vary widely depending on the size of the organization, the type of data that was breached, and the extent of the damage caused. However, IBM’s 2022 Cost of a Data Breach Report reports the average cost of a data breach as $4.35 million. Try At-Bay's Data Breach Calculator to estimate what the financial impact of a data breach could be for your organization.

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In cyber insurance, "bricking" refers to a scenario where a cyber attack or other incident causes damage to a computer system or device to such an extent that it becomes completely unusable, essentially turning it into a "brick." This can be a serious problem for businesses and individuals who rely on their computer systems to perform critical functions, such as processing transactions, storing data, or providing services to customers.

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