A year back, I made public our collaboration with Cysurance, which granted Sophos MDR customers in the United States access to Cysurance’s exclusive fixed-rate cyber insurance packages. Now, I’m thrilled to announce the expansion of our partnership to Australia, enhancing the accessibility to coverage and discounted premiums for Sophos clients.
Comprehensive and cost-effective cyber insurance plans that incentivize cyber risk minimization
Cognizant of the efficacy of Sophos solutions in risk mitigation, Cysurance provides substantial discounts for Australian organizations utilizing Sophos solutions:
- 33% discount off standard rates for organizations leveraging Sophos MDR
- 18-21% discount off standard rates for organizations utilizing Sophos Endpoint
In addition, conventional application and underwriting procedures are waived for Sophos MDR users who automatically qualify for the Cysurance initiative. Clarified by Kirsten Bay, CEO of Cysurance,
Cysurance has formulated the most comprehensive and economical assurance and cyber insurance plans for Australian clients leveraging Sophos MDR and Sophos Endpoint solutions. These plans furnish robust coverage against financial losses stemming from various cyber occurrences, enabling businesses to operate with confidence.
The policy includes first-party incident response, business disruption, data recovery, cyber blackmail, and third-party liability expenses due to threats such as ransomware and social engineering. These programs are supported by carriers in the ‘Lloyds Syndicate,’ guaranteeing dependable coverage for ransom attacks and incident response expenses up to the policy’s total threshold.
Localized brokerage assistance in Australia is arranged through the Howden Broking Group, LTD Insurance Brokers, ensuring customers can receive support and guidance throughout the process.
Building on achievements
Throughout the past year, numerous users of Sophos MDR in the U.S. have reaped the benefits of our partnership with Cysurance. Numerous customers have realized significant savings on their cyber insurance premiums, permitting them to redirect insurance funds to bolster their cybersecurity investments.
For instance, a recent scenario involved a Sophos MDR user reducing their insurance premium by $8,000 with Cysurance. With their yearly Sophos MDR subscription priced at $8,467, the saved amount on insurance enabled them to avail the world’s most trusted 24/7 MDR service at an additional expense of merely $467.
While this represents just one instance and each organization will have varied insurance and security requisites, it emphasizes the substantial potential for cybersecurity investment to unlock insurance savings and reduce the overall cyber risk reduction total cost of ownership (TCO).
Furthermore, this mirrors broader tendencies in the global cyber insurance sector: our recent, vendor-neutral analysis discloses that two-thirds (67%) of entities that invested in bolstering their cyber defenses managed to secure more competitively priced coverage as a result, with 30% receiving improved conditions owing to enhanced protection (e.g., heightened coverage limits).
Gain further insights
For in-depth details regarding Cysurance’s policies and offerings for Sophos patrons in Australia, refer to the Cysurance brochure. To discuss your insurance requisites with Cysurance representatives and organize a personalized proposal, browse https://www.cysurance.com/sophos-au. Please bear in mind that Sophos is not an accredited insurance provider and our team is unable to provide counsel on or vend insurance products.
To explore the mitigation of your cyber risks with Sophos MDR and Sophos Endpoint solutions, engage with your Sophos advisor or reach out to our team who are ready to assist.
Disclaimer
Please be aware that Sophos is not an authorized insurance producer and does not vend, solicit, or negotiate insurance products. By granting access to any external websites, (a) Sophos is not endorsing or advocating for any such external entities, including any insurance producers and carriers, or any products or services proffered by such external entities, and (b) any content or links on its website are intended solely to provide information. In the event you access an external website from a Sophos portal, be informed that Sophos does not inspect, monitor, or evaluate any external websites, or the content on such websites, for precision, suitability, or comprehensiveness, and you are exclusively liable for your interactions with such external entities.
About Cysurance
Cysurance represents a contemporary risk alleviation enterprise that authenticates, warrants, and insures security solutions implemented by corporate end-users. Certified solution providers fulfill the most stringent prerequisites set by underwriters of risks linked with hardware, software, infrastructure, and security services utilized by enterprises across all sectors and territories. Certified offerings minimize vulnerabilities encountered by governmental, private, and non-profit leaders.
Functioning as a program underwriter, the assurances connected to Cysurance-certified solutions can be applied to cyber-insurance deductibles and other out-of-pocket expenditures in the aftermath of an incident or breach. Our mandate is to cooperate with top-tier stakeholders in IT, cyber risk management, and the insurance domain to enhance business resilience by safeguarding revenue and facilitating swift recovery post any incident. For additional information visit: www.cysurance.com
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