Reinsurance News

Canopius partners with Cyber Reliant on data protection warranty

11th June 2021 - Author: Matt Sheehan

Specialty re/insurer Canopius Group has partnered with data privacy firm Cyber Reliant to offer data protection with coverage of up to $5 million.

canopius-logoThe warranty is designed to protect commercial and institutional purchasers of Cyber Reliant’s data protection products.

The Cyber Reliant platform is certified by US Federal Testing Labratories and promises to keep data secure and available to authorised users, even if a network is breached, surveilled, or data is exfiltrated by malware or ransomware.

“We’re always looking to support product innovation in the cyber market, and this warranty is a standout example of a smart solution to an ongoing problem for businesses,” said Matt Northedge, Global Head of Cyber & Technology at Canopius.

“Bringing together Cyber Reliant’s quantum-resistant cybersecurity platform with our warranty protection blends our specialist skillsets and effectively offers businesses a ‘double lock’ of protection against data loss.”

Ricardo Bueno, CEO of Cyber Reliant, also commented: “Our platform provides methods for clients to implement enterprise-wide data protection on any data type, to include network protocol/packet data and IoT.”

“Together, this warranty and the Cyber Reliant platform will enable customers to significantly reduce risk from both a governance and regulatory compliance perspective. This market-making solution finally makes it possible for the C-suite to connect policy and financial risk. Our methods include a zero-trust data protection architecture for privacy management that gives control back to the customer by eliminating the need for other privacy solutions.”

The warranty service contracts are insured through a contractual liability insurance policy negotiated by William R. Carey & Co., Inc, and Mike Richardson of Tysers Insurance Brokers issued by Canopius, Lloyd’s Syndicate 4444.

“Cyber Reliant’s innovative data protection platform represents a game-changing capability for securing sensitive data,” said Michael Carey of William R. Carey & Co. “Their approach and history of securing data for defense and intelligence customers is so compelling that we were able to secure a first-ever warranty through underwriters at Lloyd’s, London.”

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