Sophos, a leader in cybersecurity solutions, has expanded its partnership with Cysurance to provide inclusive and affordable cyber insurance policies to organizations in Australia. This collaboration aims to reward organizations for reducing their cyber risk exposure by offering significant discounts on insurance premiums for users of Sophos MDR and Sophos Endpoint solutions.
In Australia, organizations using Sophos MDR can enjoy a 33% discount on standard pricing, while those using Sophos Endpoint solutions can benefit from an 18-21% discount. The streamlined process allows Sophos MDR customers to automatically qualify for the Cysurance program without the need for traditional application and underwriting procedures.
Kirsten Bay, CEO of Cysurance, emphasized the comprehensive coverage provided by the insurance policies, including protection against financial losses from various cyber incidents such as first-party incident response, business interruption, digital data recovery, cyber extortion, and third-party liability costs. The policies 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 available through the Howden Broking Group, LTD Insurance Brokers, to assist customers throughout the insurance process.
This extension of the partnership follows a successful year in the United States, where many Sophos MDR users have benefited from reduced insurance premiums through the Cysurance program. One customer achieved significant savings of $8,000 on their insurance premium by utilizing Sophos MDR, allowing them to redirect funds towards strengthening their cybersecurity defenses. This case study highlights the potential for organizations to optimize their cybersecurity investments and lower their total cost of ownership in risk reduction by leveraging insurance savings.
Global trends in the cyber insurance market are also reflected in the partnership, as organizations that invest in enhancing their cyber defenses often receive better-priced coverage and improved terms. Sophos’ vendor-agnostic research study revealed that two-thirds of organizations that enhanced their cybersecurity defenses saw improved insurance terms and coverage limits.
For more information on Cysurance’s policies and programs for Sophos users in Australia, interested parties can refer to the Cysurance brochure and visit the official website for personalized quotations. It is important to note that Sophos does not act as a licensed insurance producer and cannot provide advice or sell insurance products directly. Organizations looking to reduce their cyber risk with Sophos MDR and Sophos Endpoint solutions are encouraged to contact a Sophos adviser or reach out to the team for assistance.
In conclusion, the extended partnership between Sophos and Cysurance presents a valuable opportunity for organizations in Australia to enhance their cyber defenses, reduce their risk exposure, and benefit from cost-effective insurance solutions. By aligning cybersecurity investments with insurance savings, businesses can fortify their resilience against cyber threats and safeguard their operations in an increasingly digital landscape.