Sophos, a UK-based cybersecurity company, has announced a new partnership with Cysurance that insures, warranties, and certifies security solutions. The partnership provides fixed-price cyber insurance to U.S.-based organizations using Sophos Managed Detection and Response (MDR).
“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.”
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.
“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.”
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 is specifically designed for organizations using Sophos MDR.
Cyber insurance is emerging as a very important component for the protection of corporate resources. Alliances such as this one are becoming increasingly common.