Deep Instinct to offer Munich Re-backed ransomware warranty

Cybersecurity company Deep Instinct said Wednesday it will offer a Munich Re Group-backed ransomware warranty program of up to $3 million per company for a single breach, beginning March 31.

The New York-based company said in a statement the Munich Re-backed product, aiSure, allows Deep Instinct to guarantee the performance of its artificial intelligence software and add an additional financial component to its operational cyber risk protection products.

A spokeswoman said in a separate statement that those eligible for the warranty will be current paying customers that have experienced a ransomware event while using the most up-to-date product on an eligible device, with default settings set at moderate or higher.

To be eligible for the reimbursement, they must follow the reimbursement request process and Deep Instinct’s instructions to mitigate the ransomware’s impact. This includes blacklisting eligible devices affected by the ransomware event within a certain agreed period, the statement said.