Expanding Valuable Cyber Insurance Partnerships with Cysurance and Sophos to Australia
Recently, there has been a noteworthy development in the field of cybersecurity and cyber insurance. Sophos, a renowned Managed Detection and Response (MDR) provider, previously announced a special arrangement with Cysurance, a leader in cyber insurance, making top-notch, fixed-price cyber insurance plans available to Sophos MDR users in the United States. We are excited to reveal that this beneficial partnership is now being extended to Australia, allowing an even wider audience of Sophos clients to benefit from comprehensive coverage at reduced premiums.
Accessible Cyber Insurance: Balancing Coverage and Cost
Cysurance acknowledges the effectiveness of Sophos’s solutions in minimizing cyber risk, which has led them to offer significant exclusive discounts to Australian organizations utilizing Sophos solutions. These discounts include:
A significant 33% savings on standard pricing for organizations utilizing Sophos MDR
A generous 18-21% discount on standard pricing for organizations using Sophos Endpoint
One of the key advantages is that these discounts are straightforwardly accessible to Sophos MDR clients. Traditional underwriting and application procedures are not required to qualify for the Cysurance program. Here’s what Kirsten Bay, CEO of Cysurance, had to ascertain:
Cysurance has curated the most thorough and cost-friendly warranty and cyber insurance policies for Australian customers utilizing Sophos MDR and Sophos Endpoint Solutions. These policies enable companies to conduct their business confidently, thanks to a robust defense against potential financial losses resulting from different types of cyber threats. The policies cover various costs such as incident response, business interruption, cyber blackmail, digital data restoration, and third-party liability charges stemming from threats like malware and social engineering. Insurers in the ‘Lloyds Syndicate’ back these policies, ensuring reliable coverage for ransom attacks and incident response costs up to the policy’s total limit.
In addition, we also furnish local brokerage support in Australia through the Howden Broking Group, LTD Insurance Brokers, thereby ensuring that our clients have a dependable source of help and guidance throughout the process.
Blossoming Success
In the United States, this unique partnership between Sophos and Cysurance has already yielded remarkable benefits for many Sophos MDR customers. The savings realized from cyber insurance premiums have allowed many organizations to allocate additional funds to further strengthen their cybersecurity measures. As an illustration, a Sophos MDR user saved $8,000 on their insurance premium through Cysurance. Given that the annual subscription cost for Sophos MDR was $8,467, such savings effectively reduced the cost for them to only $467 – a token cost for an excellent 24/7 MDR service.
This is a prime exemplification of the significant returns that can be achieved by investing in cyber defense measures. Not only can organizations secure significant insurance savings, but they can also reduce the overall total cost of ownership for cyber risk management. In fact, according to a recent study, around 67% of organizations improved their cyber defenses and were thus able to secure better-priced coverage, with about 30% managing to negotiate better terms, like higher coverage limits.
Kick-starting Your Cyber Protection Journey
If you’re intrigued by the special plans and programs offered by Cysurance for Sophos users in Australia, exploring the Cysurance brochure is recommended. To further understand your insurance requirements and get a personalized quotation, you are encouraged to visit Cysurance’s website. However, please be aware that the Sophos team is not in a position to sell or advise on insurance products.
If your focus is on minimizing your cyber threat exposure using Sophos MDR and Sophos Endpoint Solutions, reach out to your Sophos adviser or contact our team, who will be delighted to assist.
Looking Deep into Cysurance and Its Vision:
Cysurance is an inventive risk management company endorsing and underwriting security solutions implemented by enterprise end-users. The company ensures that certified solutions providers meet the stringent standards set by risk underwriters in terms of hardware, software, infrastructure, and security services deployments across various sectors and regions. Such certified solutions can significantly minimize exposure to public, private, and non-profit leaders’ vulnerabilities.
In the unfortunate event of a breach or incident, the warranties linked to Cysurance-certified solutions can be claimed against cyber-insurance deductibles and other direct expenses. The company envisions collaborating with leading entities in IT, cyber risk management, and the insurance community to enhance business resilience by shielding revenue and facilitating swift recovery post the incident.