Stellar Cyber has launched its RiskShield Cyber Insurance Program, tailored for Managed Security Service Providers (MSSPs) and their clients. The program, created in partnership with Converge Insurance, integrates cyber insurance with Stellar Cyber’s Open XDR platform to help streamline risk assessments and enable MSSPs to offer customized insurance coverage.
The program’s key feature, the Stellar Cyber Coverage Analyzer, collects data from security tools such as Endpoint Detection and Response (EDR) and Multi-Factor Authentication (MFA). It evaluates security coverage using the MITRE ATT&CK framework, providing MSSPs with detailed reports they can share with clients and insurers. This process allows insurers to assess risk more effectively, potentially lowering customer premiums based on their security posture.
“Cyber Insurance Protection”
RiskShield offers several benefits to MSSPs, including exclusive cyber insurance rates and the ability to differentiate their services in the cybersecurity market. Additionally, MSSPs can simplify the insurance process for their clients by working with Converge Insurance to ensure appropriate coverage and regulatory compliance.
Dr. Mike Saylor, CEO and Founder of Blackswan Cybersecurity, commented on the program’s impact: “The RiskShield program will help small and medium-sized businesses better understand and obtain the cyber insurance protection they need. This combination of risk management and cybersecurity is essential for today’s evolving threat landscape.”
Jim O’Hara, Chief Revenue Officer at Stellar Cyber, highlighted the program’s strategic advantage for MSSPs, stating, “Our partnership with Converge Insurance allows MSSPs to offer clients cyber insurance with transparent risk assessments and competitive rates.”
The RiskShield program aims to enhance MSSPs’ ability to provide comprehensive cyber insurance solutions while improving security practices for their clients.
Other News: BOXX Insurance Expands Cyber Insurance Protection(Opens in a new browser tab).
Other News: Casio confirms customer data compromised in ransomware attack.