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Blumira & Beltex: Strengthening MSPs’ Cyber Insurance Offerings & Client Security

Posted on February 28, 2024February 28, 2024 By Martin Hinton

Facing a growing cybercrime threat, many small and medium-sized businesses (SMBs) lack the resources to protect themselves adequately. However, a new partnership between Blumira and Beltex aims to change the game, offering them a lifeline through enhanced cybersecurity and cyber insurance solutions.

This collaboration between Blumira, a frontrunner in security information and event management (SIEM) and extended detection and response (XDR) solutions, and Beltex, a component of the FifthWall Solutions Policy Program, aims to bolster cybersecurity insurance offerings through managed service providers (MSPs).

This partnership seeks to enhance access to superior insurance coverage, offer more competitive rates, and improve incident response capabilities for MSPs and their SMB clientele. Such advancements are critical as the cyber threat landscape evolves, posing increasing organizational risks. Despite the growing cybercrime threat, a mere 55% of businesses currently have cyber insurance. Additionally, only 19% are covered for cyber events exceeding $600,000.

Blumira’s MSP partners now gain exclusive access to Beltex’s offerings. This includes the opportunity to deliver better insurance coverage at potentially lower rates for customers utilizing Blumira’s SIEM solutions. Moreover, MSPs will have the unique chance to apply for the Beltex Certified Incident Response (IR) program. This allows them to play a pivotal role in their clients’ IR processes and even receive reimbursement for their efforts.

“Game Changer”

Jeremy Young, director of partner strategy at Blumira, hailed the partnership as a transformative development for MSPs. He emphasized the value of offering clients higher-quality cyber liability insurance as a direct result of employing Blumira’s solutions. Beltex’s acknowledgment elevates the importance of MSPs in the IR process. This presents an opportunity for these providers to receive compensation for their contributions. “Blumira’s partnership with Beltex is a game changer for MSPs. Creating an insurance product that considers the specific security tools MSPs are using to offer higher limits at lower costs is desperately needed in our space,” said Young.

See also  Howden Partners with Chubb, LSM, Mosaic, and Safe Security to Launch Howden Safe+, Cyber Insurance for Mid-Size Corporations

Beltex policies are now accessible to MSP clients across the U.S. with annual revenues under $100 million. This offering covers 48 states with plans to expand further. Dustin Bolander, founder, CIO, and managing partner at Beltex, underscored the partnership’s aim to expedite the provision of quality policies and competitive rates to SMBs. “Together, we are shaping a landscape where businesses can thrive with the assurance of robust security solutions tailored to their unique needs,” added Bolander.

Source: Blumira and Beltex Announce Strategic Partnership to Enhance Cybersecurity Insurance Offerings Through MSPs.

Other News: MSPs Warned: Be Careful About Giving Clients Cyber Insurance Advice (Opens in a new browser tab)

Cyber Insurance for SMEs/SMBs Tags:Beltex, Blumira, cyber insurance, cyber insurance SMBs, cyber liability insurance, FifthWall Solutions

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In this clip from our latest podcast, Dan Candee, CEO of Cork Protection, discusses a critical component of SMB cyber resilience—the evolving role of cybersecurity insurance. Dan highlights the need for nimbleness in cyber coverage, especially for small businesses that often bear the brunt of devastating attacks.

💬 Quote Highlight:
"At the end of the day, my business is to serve the SMB market... who is providing the most value fastest." – Dan Candee, CEO Cork Protection.

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Cyber Insurance for SMBs – What Needs to Change? | Dan Candee Interview
In this clip from our latest podcast episode, Dan Candee, CEO of Cork Protection, dives into a critical topic that hits close to home: Cybersecurity for Main Street businesses.

🛡️ With a background in enterprise-level cybersecurity on Wall Street and a personal connection to small business through his family, Dan shares why Cork focuses on protecting small and mid-sized businesses from rising cyber threats.

🚨 "The threat actors are getting better, and they're coming after Main Street more and more."

👉 Discover why Main Street is being underserved in today's digital threat landscape and how Cork is filling that gap with a unique value proposition.

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Cybersecurity for Main Street: Dan Candee on Protecting Small Businesses | CEO of Cork Protection
SMB Cyber Threats - In this episode of the Cyber Insurance News Podcast, host Martin Hinton talks with Dan Candee, CEO of Cork Protection, about the rising tide of cyber threats targeting small and mid-sized businesses (SMBs). Dan shares his journey from Main Street entrepreneur to cybersecurity leader, offering real-world insight into the threat landscape, financial vulnerabilities, and how AI and managed service providers (MSPs) can help fortify business resilience.

We explore:
• Why Main Street is more vulnerable than Wall Street
• Common SMB cybersecurity blind spots (like ACH fraud)
• The evolving role of managed service providers
• How Cork Protection blends cybersecurity and cyber insurance
• Real-world attack case studies and practical advice for SMBs

Whether you’re a small business owner, MSP, or cyber pro, this episode unpacks how to prepare, prevent, and protect your organization in today’s digital world.

📌 Topics: cybersecurity, cyber insurance, social engineering, SMB protection, ransomware, AI in security, MSPs

🎙 Guest: Dan Candee, CEO of Cork Protection
📢 Host: Martin Hinton, Executive Editor, Cyber Insurance News

👉 Don’t forget to like, comment, and subscribe for more insights on cyber insurance and digital defense!

#CyberSecurity #CyberInsurance #SMB #AI #CyberPodcast #BusinessResilience #smallbusiness #sme
00:00 Introduction - Dan Candee and Cork Protection
02:27 The Importance of Cybersecurity for Small Businesses
05:29 Understanding Cyber Threats and Their Impact
08:26 The Role of Managed Service Providers in Cybersecurity
11:24 24Financial Protection and Cyber Insurance Solutions
14:01 Leveraging AI in Cybersecurity
16:53 Navigating Cyber Insurance Policies
19:56 Empowering Small Businesses with Knowledge
21:52 The Future of Cybersecurity and Community Resilience
26:05 MSP/ MSSP The Lingo decoded
29:05 Finals Thoughts and a bit of Hope!
SMBs Are Cyber Targets | Dan Candee on Cyber Resilience & AI | Cyber Insurance News Podcast EP#6
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