Cybersecurity firm Sophos Group plc today announced a new partnership with risk mitigation company Cysurance LLC to provide fixed-price cyber insurance to Sophos’ managed detection and response customers in the U.S.

Cyber insurance isn’t new. Sophos, for example, already has a relationship with Cowbell Cyber Inc. to provide its customers with cyber insurance. However, the policies offered under the new partnership with Cysurance are claimed to be unique because they recognize organizations that have a layer of threat detection and response services in place to prevent cyberattacks.

The offering comes in an era where cybersecurity threats are rapidly growing and becoming increasingly complex. Sophos argues that the landscape is evolving so rapidly that many organizations struggle to keep up. A recent Sophos report found that about 59% of U.S. security defenders admit that the sophistication of current threats challenges them.

The partnership addresses the risks associated with cyberthreats by offering financial protection along with a technical response. The policies provided under the partnership are not cookie-cutter insurance policies but are specifically tailored for organizations using Sophos’ MDR service. The policies recognize the security layer organizations have implemented to manage potential attacks and reduce the financial impact if a breach occurs.

Cysurance is offering Sophos MDR customers a range of insurance coverage plans, each available at a fixed price. Coverage amounts, including ransomware provisions, range from $275,000 to $3.2 million.

“The lack of comprehensive and integrated security strategies largely explains why cyber insurance policy fees are rising while coverage limits are declining,” said Kirsten Bay, co-founder and chief executive officer of Cysurance. “Those without defense-in-depth strategies are in great trouble.” Bay added that with the partnership, “we’re focused on helping organizations take responsible steps to implement proper cybersecurity to protect their business and digital assets.”

Cysurance was founded in 2018 and pitches itself as a next-generation risk mitigation company that insures, warranties and certifies security solutions. Cysurance-certified offerings minimize vulnerabilities faced by public, private and nonprofit leaders.

Image: Sophos