The Dangers of End-of-Life Software | Property & Casualty

The Dangers of End-of-Life Software | Property & Casualty

Home /  Insights / Articles / Article Details

All software eventually faces an end of life. When this occurs, the manufacturer no longer develops or services the product and terminates all technical support, upgrades, bug repairs and security fixes. Cybercriminals use this vulnerability to exploit end-of-life (EOL) software.

Common End-of-Life Software Exposures

While most business leaders are aware of cybersecurity risks, many continue to ignore the warnings. Reports have found that 60% of data breaches occur from unpatched, known vulnerabilities. Reasons organizations hesitate to transition from EOL software include:

  • Software upgrades lack essential features
  • Inadequate resources
  • Migration challenges
  • Unaccountability to maintain software updates
  • Profitability
  • Sustainability
  • Technical consequences
  • Legal repercussions
  • Government regulations
  • Company goals
  • Exposures
  • Policies surrounding changing default passwords
  • Password strength
  • Compliance with regulations (e.g., Health Insurance Portability and Accountability Act, Payment Card Industry Data Security Standard, National Defense Authorization Act)

Higher Cybersecurity Threats

A developer’s security fixes protect against security hazards. Without these solutions, the software can easily be exploited. Risks are not just isolated to computers using end-of-life software; it also makes your network susceptible to cybercriminals. While some companies believe firewalls can protect against known vulnerabilities, they’re insufficient without a patch. The best protection against current attacks is a strong and up-to-date operating system.

Software Conflicts

Applications are created to work together with the newest software versions and are incompatible with end-of-life software. Companies that embrace EOL software will be forced to maintain legacy systems and applications regardless of if improved versions are available. This means that not only does end-of-life software pose risks but also any associated out-of-date applications.

Regulation Compliance Concerns 

The government continues to enforce rules and regulations that require companies to meet minimum data security standards. Any organization that employs EOL software and exposes sensitive customer data may suffer consequences such as fines or company shutdowns.

Greater Operational Costs

Regardless of if your organization has in-house IT professionals, you should not attempt to maintain, patch and bug-fix end-of-life software without developer assistance. Often, the expense of patching EOL software may cost more than simply replacing the outdated software. Additionally, end-of-life software can result in lost revenue from downtime to repair or replacement.

Poor Performance & Reliability Issues

Out-of-date software elevates the opportunity for software or systems to break down. This failure will cause costly downtimes and additional operational costs. Evaluate whether downtime would be more costly than upgrading an overdue system.

How to Manage End-of-Life Software

Most organizations appreciate the innovations from software’s initial lifecycle stages, but few prepare for when these software components must phase out. Consider the following EOL management tips:

Establish a Lifecycle Management Strategy

Effective preparation for end-of-life software can lower cybersecurity vulnerabilities, reduce potential downtime and keep companies compliant with regulations. Lifecycle management strategies should involve all product lifecycle aspects (e.g., software introduction, EOL, phase-out). Include these considerations in the strategy:

Appreciate Device History

Apply device management software that automatically captures network-connected device information (e.g., model number, IP address, certificate status). This software provides a highly comprehensive network overview and will enable software and firmware updates, certifications and other essential upgrades to network computers simultaneously.

Continuously Audit EOL Software Status

Monitor end-of-life notifications of all critical components of your organization. Suppliers have lifecycles for products and components. Organizations should verify the EOL dates of software before implementing. This will help your business to avoid any surprises about device or software support and allow you to plan and budget for the replacements.

Support Consistent Cybersecurity Practices

Stay compliant and frequently assess cybersecurity best practices, including:

  • Policies surrounding changing default passwords
  • Password strength
  • Compliance with regulations (e.g., Health Insurance Portability and Accountability Act, Payment Card Industry Data Security Standard, National Defense Authorization Act)

Communicate Early & Clearly

Inform customers of any end-of-life software issues and plans to address them. Honest communication and transparency can foster improved customer loyalty and trust during EOL software transitions.

Support Consistent Cybersecurity Practices

End-of-life software exposes organizations to heightened levels of risk. Additionally, many insurers will ask for information on EOL management as a prerequisite to obtaining cyber insurance. Through proper planning and device management, businesses can stay sufficiently protected against these known cyber vulnerabilities. For additional risk management guidance or information on cyber liability insurance coverage, connect with a member of our team

The Dangers of End-of-Life Software | Property & Casualty https://www.cbiz.com/Portals/0/Images/End of Life Software.jpg?ver=hkMafqItKuAvjj4mOAp3AA%3d%3dContinuing to use end-of-life software can open your business up to cyber risks. See what common exposures look like and how to manage end-of-life software. 2022-11-28T18:00:00-05:00

Continuing to use end-of-life software can open your business up to cyber risks. See what common exposures look like and how to manage end-of-life software. 

Risk MitigationProperty & Casualty InsuranceYes