Blackpoint Cyber launched Blackpoint RISK – a cyber liability insurance solution created specifically for its partners and their customers. Blackpoint RISK is available to existing and new clients and provides an additional layer of protection against cyber incidents, including cyber-crime, ransomware, and malicious attacks.
A common phrase in cyber security is, “It’s not a question of if, but when.” Cyber security programs traditionally focus on awareness, prevention, and response – but many are unprepared for an unexpected cyber incident and the financial implications.
Blackpoint Cyber used its foundation in cyber operations for the US Government to build its true 24/7 Managed Detection and Response (MDR) service for MSPs and their customers.
While Blackpoint prides itself on its quick detection and response times and its ability to streamline the security stack, they wanted to arm MSPs and their customers with the next line of defense.
Cyber liability insurance is becoming a required component of risk management for all business sizes and industries, particularly MSPs and their customers. A cyber incident can include forensic investigations, data recovery, hardware replacement, customer notifications, regulatory filings, and even lawsuits.
Many businesses, especially small- and medium-sized ones, can face financial hardship, including bankruptcy, if not properly insured against such devastating incidents.
MSPs face cyber risk on two fronts: attacks or incidents on their own infrastructure and any resulting liabilities as well as attacks against their managed clients.
Blackpoint’s MSProtect program already provides MSPs with special 24/7 MDR pricing to keep their infrastructure safe, and now they can further reduce their risk by pairing it with Blackpoint RISK for themselves and their MDR customers.
Blackpoint designed RISK’s offerings to match the needs of its partners and their customers. The offerings are affordable, comprehensive, and include first- and third-party coverage, which helps recover internal business operations as well as protect against outside liability claims.
All offerings include access to breach response consultants and a dedicated claims advocacy practice. Depending on the coverage selected, additional benefits may also include dark web/data leakage monitoring and alerting, periodic external threat assessments, access to online risk and cyber training, and even an incident response and claims mobile app.
“We built our MDR technology and service on an assume-a-breach mentality. Our MDR service has successfully detected and stopped numerous breaches, but cyber risk is always present,” said Jon Murchison, CEO and founder of Blackpoint Cyber.
“We spent 3.5 years perfecting the breach detection and response model, but cyber security requires a layered approach. And cyber insurance is a critical layer in the fight against cyber incidents. At Blackpoint, we are continuously working to help our partners, so we spent over a year developing a tailored insurance solution just for them: Blackpoint RISK.”