Cysurance launches cyber insurance program for Australian Sophos customers

US cyber insurance provider Cysurance has announced the availability of its financial cyber protection program for Sophos customers in Australia.

The program offers warranty and cyber insurance policies for Australian clients using Sophos managed detection and response (MDR) and Sophos endpoint solutions.

Cysurance said Sophos customers can bypass traditional application and underwriting processes as "most customers will instantly qualify for discounted, high-quality cyber insurance policies."

In the event of an incident, Cysurance’s extended ransomware protection will respond first. If this protection is exhausted, the cyber insurance will cover additional remediation expenses and other security or business continuity events up to the policy limits.

“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 ransomware attacks and incident response costs up to the policy's total limit,” said Kirsten Bay, CEO of Cysurance.

Cysurance said the program offers a streamlined application process, automatic qualification for those using Sophos MDR, reduced insurance costs and extended protection for ransomware incidents.

Local brokerage support in Australia is provided through Howden Broking Group and LTD Insurance Brokers.

“As the threat landscape continues to increase in complexity most organisations can’t manage cybersecurity on their own and neither should they have to. This is why MDR has become an essential requirement for organisations to ensure they have the best defences to protect themselves,” said John Donovan, managing director, Sophos Australia.

“Cysurance recognises this and the value that Sophos’ 24/7 threat detection and response experts provide to mitigate cyber risk. Cysurance’s discounted insurance offering for Sophos customers is a testament to Sophos’ MDR capabilities and the effective security services we provide.”