Risk mitigation company Cysurance is teaming up with Sophos to offer its financial cyber protection program in Australia. Cysurance certifies, warranties, and insures cybersecurity solutions for enterprise end-users. The company wants to reduce the frequency, severity, and business impact of cyber incidents through insurance policies.
Cysurance says extending its offering already available to customers in the United States to Sophos’ Australian customers marks a milestone in its mission to offer comprehensive and affordable enhanced ransomware protection and cyber-insurance policies to businesses globally.
Cysurance says that it has developed the most inclusive and affordable warranty and cyber insurance policies for Australian clients using Sophos managed detection and response (MDR) and Sophos Endpoint solutions. The company says the 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,” said Cysurance CEO Kirsten Bay. “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.”
Sophos MDR customers can bypass traditional application and underwriting processes as most will instantly qualify for discounted, high-quality cyber insurance policies. Should an incident occur, 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.
This program’s benefits for Sophos customers in Australia include a streamlined application process, automatic qualification for those using Sophos MDR, and reduced insurance costs, allowing businesses to allocate more resources to improving their security. The program also offers extended protection for ransomware incidents and provides immediate financial resources to address the situation.
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.
“As the threat landscape continues to increase in complexity, most organisations can’t manage cybersecurity on their own, and neither should they have to,” said Sophos Australia Managing Director John Donovan. “This is why MDR has become an essential requirement for organisations to ensure they have the best defences to protect themselves.”
