Programme provides up to US$5 million in indemnification benefits to participants
In an industry first, data security technology firm Secured2 has released a cyber warranty programme that combines security with data-breach indemnification.
The programme provides up to US$5 million in indemnification benefits and is offered by a partnership that includes Secured2; Risk Cooperative – a specialised risk advisory firm; Lloyds of London – the cover holder for cyber insurance; and Ridge Global – a specialised risk-advisory firm.
“To solve the ‘risk’ problem associated with today’s cloud solutions the innovative approach we are taking takes risk off the table by providing a warranty against a data breach and providing reassurance by providing a level of security that can be indemnified,” said Daren Klum, CEO of Secured2. “Being the first solution in the world that can both secure and indemnify users against a data breach changes the game entirely.”
The key elements of the warranty programme include the Secured2 product built into Microsoft Office 365 and Microsoft Azure which provides the critical components necessary to secure data in today’s high-risk environment. The current platform consists of secure email, secure data delivery, secure cloud storage and document collaboration across the business continuum.
The programme also consists of the ‘cyber warranty’ which allows every customer who takes advantage of Secured2’s innovate technology to be covered.
Secured2’s partnership with Risk Cooperative and Ridge Global provides customers with access to cybersecurity technologies. As a Lloyd’s of London cover holder, Risk Cooperative has access to proprietary risk transfer solutions helping organisations mitigate potential cyber threats.
“Cyber risk is increasingly defining the 21st century, with virtually every facet of the global economy exposed to this insidious threat,” said Andres Franzetti, chief strategy officer and founding member of Risk Cooperative. “Working with Secured2, and its leading-edge technology, we strive to help make organisations more resilient and improve its risk profiles.”