First of its Kind Program Introduces Policies Structured to Benefit Organizations Mitigating Cyber Risk with Sophos MDR
Sophos, a global leader in innovating and delivering cybersecurity as a service, today announced a new partnership with Cysurance, a next-generation risk mitigation company that insures, warranties and certifies security solutions. The partnership provides unique, fixed-price cyber insurance to U.S.-based organizations using Sophos Managed Detection and Response (MDR). The policies are the first of their kind to recognize organizations for having a layer of threat detection and response services.
“As cyberthreats increase in complexity and velocity, MDR is quickly becoming an essential requirement for organizations to manage their cybersecurity posture. Most organizations simply can’t keep up with the evolving threat landscape, as evidenced by the 59% of U.S. security defenders who say today’s threats are too advanced for their organizations to deal with on their own,” said Raja Patel, senior vice president of products and managed services at Sophos. “Cysurance recognizes this and the value that Sophos’ 24/7 threat detection and response experts provide to mitigate cyber risk. Cysurance’s fixed-price coverage is a testament to Sophos’ MDR capabilities and the effective security services we provide to organizations.”
"The lack of comprehensive and integrated security strategies largely explains why cyber insurance policy fees are rising while coverage limits are declining,” said Kirsten Bay, co-founder and CEO at Cysurance. “Those without defense-in-depth strategies are in great trouble. However, cybersecurity is a manageable challenge, and Sophos can help. Together, we’re focused on helping organizations take responsible steps to implement proper cybersecurity to protect their business and digital assets. Sophos’ proven MDR solution allows Cysurance to offer a range of best-in-class coverage plans that reward customers for their smart cybersecurity investments.”
The Cysurance policies for Sophos MDR users support all industry sectors in the U.S., regardless of number of employees or endpoints. Four plans, ranging from $275,000 to $3.2 million in total coverage – including ransomware coverage – are available.
This is the latest in a series of cyber insurance partnerships for Sophos, which already this year announced deals with Cowbell and Measured Analytics and Insurance. Its partnership with Cysurance uniquely benefits organizations using Sophos MDR, one of the industry’s most widely used services with more than 17,000 customers.
To learn more about the Sophos and Cysurance partnership, visit the Sophos blog post, “Sophos Announces Partnership with Cysurance.”