Cyber insurance services provided by Cysurance now available for Sophos' clients in Australia
In a significant move to bolster cybersecurity for businesses in Australia, risk mitigation company Cysurance has partnered with Sophos to offer its Financial Cyber Protection Program. This program, designed to provide extended ransomware protection and comprehensive insurance policies, is now available to Sophos customers in the region.
According to Kirsten Bay, CEO of Cysurance, the insurance covers various costs due to threats like ransomware and social engineering. The aim is to reduce the frequency, severity, and business impact of cyber incidents.
John Donovan, Managing Director of Sophos Australia, emphasised the importance of Managed Detection and Response (MDR) in today's digital landscape. He stated that MDR has become an essential requirement for organisations to ensure they have the best defences to protect themselves.
Under this partnership, Sophos MDR customers can bypass traditional application and underwriting processes, automatically qualifying for discounted, high-quality cyber insurance policies. The program offers a streamlined application process, making it easier for Sophos customers in Australia to secure the necessary protection.
The insurance policies, backed by carriers in the 'Lloyds Syndicate,' provide reliable coverage for ransomware attacks and incident response costs up to the policy's total limit. They offer strong protection against financial losses from various cyber incidents, including first-party incident response, business interruption, digital data recovery, cyber extortion, and third-party liability costs.
In addition, the program provides immediate financial resources to address ransomware incidents for Sophos customers in Australia. If the extended ransomware protection is exhausted, the cyber insurance will cover additional remediation expenses and other security or business continuity events up to the policy limits.
To further support Sophos customers in Australia, the program provides local brokerage support through the Howden Broking Group, LTD Insurance Brokers. This partnership ensures that businesses have access to expert advice and guidance throughout the process.
By collaborating with Guild Insurance, Cysurance extends its offering to Sophos' Australian customers, marking a milestone in its mission to provide comprehensive and affordable enhanced ransomware protection and cyber-insurance policies globally. The insurance costs for Sophos customers in Australia are reduced, allowing businesses to allocate more resources to improving their security.
With this partnership, businesses operating in Australia can now operate confidently, knowing they have robust financial protection against cyber threats. The Cysurance Financial Cyber Protection Program offers extended protection for ransomware incidents, ensuring a swift and effective response in the event of an attack.
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