Managed Service Providers: Still Not Appreciating the Risk of Ransomware

It seems that IT service providers don’t get it and haven’t put countermeasures in place. I work with a number of Managed Security Service Providers (MSSPs). They definitely appreciate the risk of ransomware.  In stark terms, your customers will walk away if you don’t protect them…:

[…] We asked our prior MSP clients:

Following the incident, what % of your customers churned, or do you expect to churn?

When asked to estimate with percent of their customer base churned following a ransomware event, the majority (57%) of respondents reported a percentage in the 11-20% range. Very few estimated that they avoided attrition altogether, and 13% reported aggressive churning rates of 50% or higher.

Overall, the rates of actual customer loss exceeded the expected rate of loss estimated by most MSPs surveyed by NinjaRMM who had yet to experience an incident. This disconnect suggests MSPs are still experiencing a learning curve when it comes to projecting the fallout of a ransomware attack that extends to their end customers.

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Original article here