A year ago I announced our partnership with Cysurance which provided Sophos MDR users in the United States access to Cysurance’s unique fixed-price cyber insurance plans. Today, I am delighted to share that we have extended our partnership to Australia, further facilitating access to coverage and discounted premiums for Sophos customers.
Inclusive and affordable cyber insurance policies that reward cyber risk reduction
In recognition of Sophos solutions’ proven record of reducing risk exposure, Cysurance offers considerable discounts for organizations in Australia using Sophos solutions:
- 33% off standard pricing for organizations using Sophos MDR
- 18-21% off standard pricing for organizations using Sophos Endpoint
Additionally, traditional application and underwriting processes are not required for Sophos MDR customers who automatically qualify for the Cysurance program. As Kirsten Bay, CEO of Cysurance, explains,
Cysurance has developed the most inclusive and affordable warranty and cyber insurance policies for Australian clients using Sophos MDR and Sophos Endpoint solutions. These policies offer strong protection against financial losses from various cyber incidents, helping businesses operate confidently.
The insurance covers first-party incident response, business interruption, digital data recovery, cyber extortion, and third-party liability costs due to threats like ransomware and social engineering. These programs are backed by carriers in the ‘Lloyds Syndicate,’ ensuring reliable coverage for ransom attacks and incident response costs up to the policy’s total limit.
Local brokerage support in Australia is provided through the Howden Broking Group, LTD Insurance Brokers, ensuring customers can access assistance and guidance throughout the process.
Building on success
Over the last year, a wide range of Sophos MDR users in the U.S. have benefitted from our partnership with Cysurance. Many customers have unlocked material savings on their cyber insurance premiums, enabling them to re-direct insurance budget to fund their cybersecurity investments.
In one recent example, a customer using Sophos MDR reduced their insurance premium by $8,000 with Cysurance. With their annual Sophos MDR subscription coming in at $8,467, the insurance saving meant they could benefit from the world’s most trusted 24/7 MDR service for an incremental spend of just $467.
While this is just one case study and every organization will have different insurance and security needs, it illustrates the considerable potential for investment in cyber defenses to unlock insurance savings and reduce the overall total cost of ownership (TCO) of cyber risk reduction.
It also reflects broader trends in the global cyber insurance market: our recent, vendor-agnostic research study reveals that two-thirds (67%) of organizations that invested in elevating their cyber defenses were able to get better-priced coverage as a result, and 30% received improved terms thanks to their improved protection (e.g., higher coverage limits).
Learn more
For more information on Cysurance’s policies and programs for Sophos users in Australia, see the Cysurance brochure. To discuss your insurance requirements with Cysurance representatives and arrange a personalized quotation, visit https://www.cysurance.com/sophos-au Please note that Sophos is not a licensed insurance producer and our team is not able to advise on or sell insurance products.
To explore reducing your cyber risk with Sophos MDR and Sophos Endpoint solutions, speak to your Sophos adviser or get in touch with our team who would be delighted to help.
Disclaimer
Please note that Sophos is not a licensed insurance producer and does not sell, solicit or negotiate insurance products. By providing access to any third-party websites, (a) Sophos is not recommending or endorsing any such third parties, including any insurance producers and carriers, or any products or services offered by such third parties, and (b) any materials or links contained on its website are intended merely to provide information. To the extent you access a third-party website from a Sophos website, please be advised that Sophos does not investigate, monitor, or check any third-party websites, or the content of such websites, for accuracy, appropriateness, or completeness, and you are solely responsible for your interactions with such third parties.
About Cysurance
Cysurance is a next-generation risk mitigation company that certifies, warrants and insures security solutions deployed by enterprise end-users. Certified solutions providers meet the most stringent requirements demanded by underwriters of risks associated with hardware, software, infrastructure and security services deployed by enterprises across all industries and geographies. Certified offerings minimize vulnerabilities faced by public, private and non-profit leaders.
As a program underwriter, the warranties attached to Cysurance-certified solutions can be applied to cyber-insurance deductibles and other out-of-pocket expenses in the wake of an incident or breach. Our mission is to work with market-leading players in IT, cyber risk management and the insurance community to enhance business resilience by protecting revenue and supporting rapid recovery in the event of an incident. For more information visit: www.cysurance.com