Corax partners with PSA to help deliver their Cyber Risk Management Solution for SMBs, “CyberOn”.
Corax is delighted to be partnering with PSA Insurance and Financial Services to help deliver their new cyber security product for small to medium sized businesses, CyberOn.
CyberOn is a flexible and affordable product that helps SMB’s navigate the notoriously complex and costly world of cyber security.
Corax will be delivering custom cyber risk reports as part of the package, providing data and insight to enable board-level discussions about cyber risk. The CyberOn programme also includes cyber insurance coverage and access to incident response providers through other partners.
PSA Insurance & Financial Services Launches Turnkey Cyber Risk Management Solution for SMBs
CyberON unites Maryland partners providing cyber risk detection, protection, and incident management
HUNT VALLEY, Md. (June 11, 2019)—PSA Insurance & Financial Services (PSA) announced the launch of a new cybersecurity solution, CyberON, specifically designed for Small and Medium-Sized Businesses (SMBs). CyberON brings enterprise grade cyber risk management capabilities to SMBs in flexible and affordable plans as a result of the collaboration of local companies in Baltimore and throughout the DMV.
According to a recent report published by the Better Business Bureau, SMBs in particular struggle to keep up in areas that are critical to managing cyber risk. The report reveals only 20% conduct internal threat assessments, about 20% have threat monitoring and analysis capabilities, 15% have an Incident Response Plan and 15% purchase cyber insurance. It is often assumed that SMBs are ignoring cyber threats leading to inaction. However, the BBB survey suggests that low adoption in these areas is not due to a lack of awareness; rather, it appears to be the result of a lack of resources, expertise, and information.
After working with SMBs in a variety of industries, PSA recognized that while leaders know cybersecurity should be an organizational priority, they are often overwhelmed by the complexity of where to spend limited dollars and how to implement and execute a comprehensive cybersecurity plan with limited staff. The firm is partnering with local and international cybersecurity service and solutions providers to offer an innovative solution: CyberON.
CyberON is a turnkey, affordable solution designed specifically to help SMBs immediately achieve a baseline level of cybersecurity maturity. The program offers three tiers starting as low as $66 a month – each package includes a custom cyber risk report, cyber insurance coverage and access to incident response providers to help you prepare a sound response strategy.
Mike Volk, PSA’s VP, Cyber Risk Solutions explains,
“We didn’t simplify cybersecurity, and we can’t eliminate cyber risk. No one can really do that. What we did is make it a whole lot easier to do something about it.”
CyberON is possible thanks to the cutting-edge cyber ecosystem in Maryland. A known state leader in cybersecurity nationwide, CyberON primarily capitalizes on the expertise of Maryland companies collaborating to provide innovative cyber solutions at an affordable cost. CyberON partners include:
Fallston Group, Corax, Whiteford, Taylor & Preston LLP, Atlantic Data Forensics, OPAQ, CyberPoint, and Wingman Insurance.
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