Parametrix Launches Embedded Insurance Program to Protect Against Systems Outages
Parametrix, a leading provider of digital business interruption risk solutions, has introduced a new embedded insurance program designed to protect businesses against sustained systems outages triggered by security-service malfunctions. The insurance program will back a warranty offered by Endpoint Detection and Response (EDR) security providers to their premium customers.
EDR systems continuously monitor networked devices that people use to interface with technology, searching for cyber threats and mitigating them when found. However, because they are deeply embedded in mission-critical systems, a single malfunction can instantly disable endpoints across an entire organization, bringing operations to a halt. The failure of these essential cyber defense tools poses a systemic risk that can cascade through the entire business.
The insurance coverage is available only through select security vendors and offers coverage of up to $2 million per client. Each client must have a minimum of 100 protected endpoints. “Our mission is to build trust in technology through insurance – and that’s exactly why our partners have joined us: to help reinforce that trust with their customers,” said Jonathan Hatzor, CEO of Parametrix.
With this launch, Parametrix continues to lead the way in parametric insurance solutions that evolve with the digital risk landscape, offering fast, transparent, and relevant coverage for today’s most pressing operational risks. The new program helps restore confidence in EDR services, reduces friction in SLA and contract negotiations, and ultimately supports clients’ commercial goals.
