Today’s small-and-medium-sized businesses (SMBs) are faced with an increasingly challenging cyberthreat landscape. The combination of hybrid work, evolving IT environments led by cloud migration, and generative AI-powered cyberthreats, require SMBs to harden their cybersecurity posture and prepare for the worst by subscribing to cyber insurance.
While cyber insurance is a must-have for any business, it is especially important for those who need to protect sensitive customer data. It can help with covering costs associated with legal fees, data recovery, business interruption, and much more. However, cyber insurance rates continue to rise, and the approval process can be very manual. At times, it can be difficult to gain approval. More importantly, when a claim is filed, the claim process can take months. For an SMB, this can have a significant impact as they may not have the finances to cover the cost of breach recovery.
A new financial peace of mind created for MSPs and SMBs
In a world where quick reaction can make all the difference, it is crucial for MSPs and their SMB customers to gain access to fast and easy coverage for when an event takes place. This is why Barracuda and Cork, a purpose-built warranty company for MSPs serving SMBs, joined forces to deliver Barracuda Cyber Warranty, a program that’s designed to give MSPs and their SMB clients financial protection they require in the event of an incident.
The primary focus of this program is to provide SMBs financial protection in the event of spear phishing, ransomware, and business email compromise (BEC) attacks. Through the Barracuda XDR solution suite, an SMB’s security posture and qualification can be determined in a timely manner… Gone is the paper-intensive application process.
In the event of an incident, MSPs and SMBs can submit a claim directly to Cork, which is receiving information from Barracuda XDR, shortening the claim period from months to days. This ensures that SMBs will have access to funds during ongoing response activities, and business continuity.
An MSP opportunity – Barracuda Cyber Warranty
MSPs continue to strive to become a trusted provider for SMB customers. With Barracuda Cyber Warranty and the Barracuda XDR solution suite, MSPs are now in the position to provide complete cybersecurity-as-a-service, with defense-in-depth protection that covers not only major attack surfaces such as endpoints, email, cloud, network, and servers, but provides financial protection against threats that most commonly target SMBs.
Visit our website at www.barracudamsp.com to learn more about Barracuda Cyber Warranty. We also invite you to join us for an upcoming webinar, Revolutionize your security service offering with Cyber Warranty, to hear how you can leverage this new program to differentiate your MSP business and generate growth.
Photo: Follow Focus / Shutterstock
This post originally appeared on Smarter MSP.