Cybersecurity firm Transmosis and insurance agency Cysurance have launched a bundled cybersecurity and insurance product that requires no insurance brokers, research, or yearly contracts and is sold on a monthly subscription basis.
The new cyber liability insurance product works with the CyberOPS A.I. software and 24/7 live virtual Security Operations Center to enhance small businesses’ protection against cyber attacks and reduce their overall cyber liability and financial risk.
CyberOPS acts as an outsourced cyber security team for small businesses. CyberOPS, which debuted earlier this year, allows small businesses with fewer than 100 employees to access what it calls a military-grade, cybersecurity platform with dedicated security analysts.
In the event of a breach, CyberOPS automatically sends forensic data to Cysurance’s claims platform to support reimbursements where a smart contract records it in a blockchain and expedites claim settlements.
CyberOPS said it has negotiated lower insurance coverage amounts and rates in a monthly subscription. The policies are underwritten by Chubb.
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