Running a business means accepting all of its fluctuating risks and uncertainties. For business leaders, one of the major challenges is managing their cybersecurity posture in an ever-changing threat landscape. With rapid digitalization and increasingly opportunistic attackers to consider, small to medium-sized businesses (SMBs) can be especially vulnerable.
Based on recent reports, over 40% of cyberattacks target today’s SMBs and only 14% of these organizations have the right response plans and policies to properly face the threat. While many business owners invest in cyber insurance, traditional insurance policies are no longer enough to provide the coverage needed in the current climate.
This blog post dives into why modern business leaders are investing in cyber warranties to round out their cyber defense strategies and fill in the gaps for cyber financial protections needed in a worst-case-scenario. Also, learn more about SentinelOne’s newly launched Breach Response Warranty available for businesses of all levels of endpoint counts.
Taking the Proactive Approach with Cyber Warranties | Why Cyber Insurance Alone Isn’t Enough
Although both cyber insurance and cyber warranties offer financial compensation in the case of a breach, they aim to serve different purposes. Where cyber insurance covers financial losses resulting in data breaches or attacks that have already occurred, cyber warranties are a pledge from security vendors.
Cyber insurance can also sometimes require lengthy paperwork and approval cycles with timelines for compensation being drawn out. Warranties can plug this time gap and provide immediate relief and event payout to help cover the deductible for cyber insurance coverage.
Vendors can offer different kinds of cyber warranties such as:
- Service-Based Warranties – These are associated with specific products and services. For example, warrantied products and services are guaranteed to be free from known vulnerabilities.
- Scope-Based Warranties – These outline specific conditions or sets of controls that the buyer must adhere to in order for the warranty to be considered valid.
- Limited Liability Warranties – These hold the provider responsible for damages or losses that result from a cyberattack or breach if the attack was related to a covered product or service.
In terms of risk management, SMBs cannot rely on the reactive nature of cyber insurance policies, which only provide relief after a cyber incident has already happened. On average, an incident can cost SMBs up to $653,000 – a considerable amount of capital that many businesses cannot afford to pay to keep afloat post-attack.
To build up effective and scalable cyber resilience, businesses need to take a proactive approach that helps to prevent cyberattacks from occurring. Many leaders are bolstering their strategy by investing in cyber warranties, which act like guarantees from vendors that their solutions will keep them secure and round out their risk profile.
SentinelOne’s Breach Response Warranty Is Now Available
At SentinelOne, we understand that securing peace of mind requires more than delivering the best technology and cybersecurity expertise. We’re proud to introduce our Breach Response Warranty, the latest service enhancement we offer providing additional coverage and assurance of financial relief should a worst-case scenario occur. This is just one more way we are confidently partnering with you.
Coverage and Eligibility
Our Breach Response warranty is offered to both our direct customers and Managed Security Service Providers (MSSPs). Coverage amounts are tiered by endpoint counts to cover all of our Complete, Vigilance, and WatchTower customers at no additional cost to the customer.
Comprehensive Recovery Expense
Our third-party insurance partner underwrites our warranty and provides up to $1 million of financial relief to ensure business continuity. That means if a breach occurs due to a lapse in our service, our warranty will be triggered to cover operational and legal expenses incurred to restore data and systems and gain compliance with data privacy for a quick recovery.
Comprehensive Endpoint Detection
Unlike many solution providers, our warranty covers physical and virtual devices across multiple operating systems, including Windows, Linux, Mac, and cloud workloads (containers). Our comprehensive protection ensures that all endpoints are covered regardless of the platform.
Conclusion | How to Invest In SentinelOne’s Warranty Program
As threat actors become more sophisticated and well-funded, businesses can bolster their cyber resilience and overall posture by partnering with security vendors that offer integrated warranties for their solutions and services. In assuming a more proactive approach to building their tech stacks, business leaders take on a competitive advantage over those with gaps in their risk profiles.
A combination of a cyber warranty-backed tech stack and cyber insurance coverage gives business leaders the assurance needed to operate confidently in today’s digital environment.
The SentinelOne Breach Response Warranty reflects our commitment to partnering closely with businesses of all sizes to secure their digital assets. Experience true peace of mind with our industry-leading security solutions, now covered by a comprehensive warranty. Please refer to the Breach Response Warranty Agreement for detailed information and specific inquiries. Stay protected and stay secure with SentinelOne.
