Windows Eventing Collector supports the following cipher suites:

• TLS_RSA_WITH_RC4_128_MD5
• TLS_RSA_WITH_RC4_128_SHA
• TLS_RSA_WITH_3DES_EDE_CBC_SHA
• TLS_RSA_WITH_DES_CBC_SHA
• TLS_NTRU_NSS_WITH_AES_256_CBC_SHA
• TLS_NTRU_NSS_WITH_3DES_EDE_CBC_SHA
• TLS_RSA_EXPORT_WITH_RC4_40_MD5
• TLS_RSA_EXPORT_WITH_RC2_CBC_40_MD5
• TLS_DHE_DSS_WITH_3DES_EDE_CBC_SHA
• TLS_DHE_DSS_WITH_DES_CBC_SHA
• TLS_NTRU_NSS_WITH_AES_128_CBC_SHA

The error can occur if the following are disabled;  RC4 128/128 and Triple DES 168 cipher,  on a Windows 2008 event source.

For more information, please refer to http://support.microsoft.com/kb/245030 (the registry keys can apply to Windows 2008)

Users have encountered this same error if using a certificate with Microsoft Strong Cryptographic Provider.

In this case, the issue was resolved after changing the CSP to Microsoft RSA Schannel Cryptographic Provider.