CyberCatch Partners with CMR to Offer Cyber Insurance for CMMC Compliance
CyberCatch Holdings, Inc. has introduced a no-application cyber insurance policy for businesses using its cybersecurity solution. The initiative targets small- and medium-sized businesses (SMBs) in the U.S. defense sector that must comply with Cybersecurity Maturity Model Certification (CMMC) Level 1.
CMMC Compliance and Cyber Insurance Gap
The U.S. Department of Defense mandates CMMC compliance for 221,000 businesses in its supply chain. Of these, 140,000 SMBs must meet Level 1 requirements, implementing 15 cybersecurity controls. Many of these businesses lack the resources to secure cyber insurance, leaving them vulnerable.
CyberCatch’s AI-enabled compliance platform assists businesses in meeting CMMC Level 1 requirements. The company has partnered with CMR Risk & Insurance, a U.S.-based brokerage licensed in all 50 states. Businesses using CyberCatch’s solution will qualify for a discounted CyberCatch CMMC insurance policy from an AXV-rated insurer without needing a separate application.
Industry Leaders Support the Initiative
Travis Pearson, CEO of CMR Risk & Insurance, emphasized the partnership’s benefits. “CMR is excited to partner with CyberCatch to provide cyber insurance as part of an innovative and effective cyber risk mitigation solution like no other. Everyone wins. With CyberCatch’s solution, both the business and the insurer are risk-mitigated.”
CyberCatch CEO Sai Huda highlighted the innovation: “CyberCatch is delighted to partner with CMR. Now with CyberCatch, not only businesses in the defense sector, but any business can attain compliance quickly and mitigate cyber risk and also have cyber insurance for added protection and not have a gap that could irreparably harm their existence. Our innovative solution is a first in the marketplace and a game-changer.”
