High Wire Networks has launched the Overwatch Cyber Warranty Program to "provide a financial safety net for (MSPs) and their business clients in the event of a cybersecurity breach," the company announced this week.
High Wire Chier Operating Officer Stephen LaMarche commented on the Cyber Warranty Program and its benefits for MSPs and their customers:
"Combining our Overwatch Managed Cybersecurity monitoring, detection and response with our cyber warranty protection plan can provide peace of mind for MSPs and their business customers, plus a meaningful competitive edge all around."
How High Wire Networks' Overwatch Cyber Warranty Program Works
The Cyber Warranty Program helps reimburse the costs associated with remediating cyberattacks, High Wire said. It is not considered cyber insurance but can be paired with cyber insurance policies for additional protection against cyberattacks.
An organization can buy a $500,000 Cyber Warranty plan and receive the following coverages:
- $100,000 for ransomware and business email compromise protection
- $100,000 for compliance and regulatory failure protection
- $50,000 for business income loss protection
- $250,000 for cyber legal liability protection (after other guarantees are exhausted)
If a data breach occurs, an organization can complete the following steps to submit a claim in accordance with the Cyber Warranty Program:
- Notify High Wire within 48 hours about the incident.
- Register a claim upon discovery for prior approval
- Provide evidence of a system vulnerability or failed audit component discovered during remediation or proof that an affected endpoint was protected
- Receive a check within 15 days
How MSPs Can Sign Up Their Customers for the Overwatch Cyber Warranty Program
MSPs can enroll their customers in the Cyber Warranty Program by confirming they are in good standing and subscribing to a prerequisite Overwatch cybersecurity services stack that includes:
- Multi-factor authentication
- Maintenance (patches and updates)
- Security awareness training
- Bank routing change verification
- Regulatory compliance
In addition, Cyber Warranty customers may qualify for discounted or below-market cyber insurance policies of $1 million or more based on their use of Overwatch cybersecurity services, High Wire stated.
High Wire Offers Cybersecurity Job Training
The Overwatch Cyber Warranty Program launch comes after High Wire in May 2023 announced a cybersecurity job training program for retiring military service members and veterans in partnership with the U.S. Department of Defense.
With High Wire's cybersecurity job training program, current and former service members can access classroom education and on-the-job training, the company said. The program also allows participants to learn about the application of IT for small and medium-sized businesses (SMBs) and enterprises. It also promotes innovations in computer and networking hardware, software, managed services and project management.
High Wire offers cybersecurity and IT enablement services through more than 625 channel partners. The company supports thousands of managed security and technology customers globally.