Canopius issues warranty to quantum-secure tech firm Cyber Reliant

Canopius, the Lloyd’s underwriter with operations in Bermuda, has issued a warranty to Cyber Reliant, a provider of quantum-secure data and anti-ransomware data protection technology.

The warranty protects commercial and institutional purchasers of Cyber Reliant data protection products with coverage of up to $5 million.

The warranty service contracts are insured through a contractual liability insurance policy negotiated by William R. Carey & Co and Mike Richardson of Tysers Insurance Brokers. It was issued by Canopius Lloyd’s Syndicate 4444.

The Cyber Reliant platform allows its clients to implement enterprise-wide data protection on any data type, to include network protocol/packet data and internet-of-things, transforming the data’s properties into quantum-secure fragments. It is tested by US Federal Laboratories as quantum resistant for protecting data at rest, in use, or in transit.

Ricardo Bueno, chief executive officer at Cyber Reliant, said the warranty will help its customers reduce risk from both a governance and regulatory compliance perspective.

“This market-making solution finally makes it possible for the C-suite to connect policy and financial risk,” he said. “Our methods include a zero-trust data protection architecture for privacy management that gives control back to the customer by eliminating the need for other privacy solutions.”

Matt Northedge, global head of cyber and technology at Canopius, said: “We’re always looking to support product innovation in the cyber market, and this warranty is a standout example of a smart solution to an ongoing problem for businesses. Bringing together Cyber Reliant’s quantum-resistant cybersecurity platform with our warranty protection blends our specialist skillsets and effectively offers businesses a ‘double lock’ of protection against data loss.”