Ransomware is a billion-dollar industry in the cybercriminal underworld. From sophisticated supply chains to double extortion tactics, ransomware attacks are getting increasingly targeted, especially with MSPs. Why? Because threat actors know that if they compromise an MSP network, they can spread to all their clients. 

To understand the landscape at a high level, here are some ransomware FAQs: 

Does insurance cover ransomware? 

• Sometimes, but don’t bet on it. Many insurers will only cover ransomware attacks if there are no lapses in security hygiene. 

Is it possible to recover files from ransomware? 

• Again, sometimes, but also, don’t count on it. Decryptors can work, but are also hit or miss. Even if they do “work,” recovery is a slow and painful process. 

Should you pay the ransomware to recover your data?  

• Never. Not only does paying the ransom grow cyber criminal enterprises, but it also doesn’t guarantee the return of your data or that it won’t be publicly leaked. After all, we’re dealing with untrustworthy criminals. 

What company has been most affected by ransomware? 

• In 2021, REvil exploited Kaseya via its remote monitoring tool. The ransomware attack affected 1,500 other businesses, which is why MSPs should pay attention.

Ransomware is a rapidly evolving and highly lucrative threat, especially for MSPs who hold the keys to their clients’ networks. With attackers increasingly targeting MSPs for their broader reach, it’s crucial to have a robust security posture in place. Prevention, preparation, and rapid response are the best defenses against becoming the next victim of this growing threat.

The good news is this: ransomware attacks are preventable. But MSPs must get serious about cybersecurity. Here’s how the most resilient MSPs lock it down with these basic but robust security measures: 

Network segmentation and access controls

When you have multiple client networks, partition them. Segmenting networks prevents ransomware from moving laterally and spreading. Client network access should also be heavily controlled—apply least-privilege access like your business depends on it (it does). 

Endpoint protection and monitoring 

Endpoints are prime targets for threat attackers because of the sheer volume of devices in an organization, paired with varying degrees of security. Using a layered endpoint defense with 24/7 monitoring allows MSPs to detect potential threats before they snowball into a full-blown crisis. 

Regular software updates and patch management

Not patching systems and updating software is like leaving your doors unlocked and windows open. Automate your updates, stay ahead of zero days, and stop giving attackers easy wins.

Other MSP best practices

On top of the basics, there are other MSP best practices when it comes to reducing ransomware risk: 

• Strong backup and recovery strategies: Backups are your safety nets. That said, they’re only effective if they’re tested, airtight, and restorable. Make sure data backups and recovery strategies are all in place. 

• Cyber-literate employees and clients: Depending on how they’re trained on cybersecurity best practices, people can either be the weakest link or your first line of defense. Cybersecurity awareness needs to become a fundamental part of your company culture. 

Comprehensive incident response planning: You can’t depend on hope—you need a step-by-step plan if things hit the fan. A well-rehearsed and documented incident response plan is how an MSP prevents ransomware from spreading.

We get it—MSPs are juggling a thousand things and constantly under pressure to deliver more security with fewer resources. That’s why Huntress was purpose-built to give MSPs the upper hand in the fight against ransomware.

Our platform offers always-on, human-powered threat detection and response, endpoint protection that sees what others miss, and a Security Operations Center that never sleeps. With Huntress, ransomware protection for MSPs isn’t just a box you check—it’s a battle you win.

Don’t leave your clients vulnerable and your business exposed. Let’s talk about how we can keep cybercriminals in the dark and at bay.