In a significant development for South African businesses, global technology consultancy BUI has introduced the BUI Cyber Security Warranty, the nation's first cyber security warranty designed to offer financial protection and response assurance against severe cyber threats. This initiative, developed in collaboration with iTOO Special Risks and Affinitoo, marks a proactive shift in the cyber risk landscape, moving from reactive insurance to proactive resilience.
Understanding the BUI Cyber Security Warranty
The BUI Cyber Security Warranty is integrated into BUI's flagship Cyber Managed Extended Detection and Response (MXDR) service. This service provides continuous threat monitoring, rapid incident response, and proactive cyber defense, leveraging advanced technologies like Microsoft Sentinel and the Microsoft Defender portfolio. The warranty offers twelve-month coverage for qualifying Cyber MXDR customers in South Africa, covering verified incidents such as network security breaches and cyber extortion threats. It assists with recovery costs, including forensic investigations, data recovery, legal compliance, customer notifications, and public relations efforts. The policy is underwritten by iTOO Special Risks, with claim assessments managed by Affinitoo.
Eligibility and Requirements
To qualify for the warranty, customers must be in good standing with BUI and adhere to core security hygiene requirements. These include critical patching and alerting, robust password policies, secure backups, and monitored firewall access. This ensures that businesses maintain a proactive security posture, aligning with best practices to mitigate potential cyber threats.
Industry Implications and Expert Insights
The introduction of the BUI Cyber Security Warranty signifies a pivotal shift in how businesses approach cyber risk management. Ryan van de Coolwijk, iTOO Cyber Product Head, emphasized the transition from reactive insurance to proactive resilience, highlighting the importance of integrating coverage into security operations to facilitate faster and stronger recovery. BUI Global CEO Ryan Roseveare underscored that security concerns now encompass financial and reputational aspects, with the warranty providing customers added peace of mind by linking proactive defense with tangible protection.
BUI's Commitment to Cyber Security Excellence
BUI's launch of this warranty is a testament to its dedication to enhancing cyber security measures for businesses. The company has a history of accolades, including being named the 2024 Microsoft South Africa Partner of the Year and earning the Microsoft Solutions Partner for Private Cloud designation. These recognitions reflect BUI's expertise in delivering secure, compliant, and high-performance cloud solutions tailored for modern workplaces.
Conclusion
The BUI Cyber Security Warranty represents a groundbreaking approach to cyber risk management in South Africa. By combining proactive defense strategies with financial protection, BUI is setting a new standard for how businesses can safeguard themselves against the evolving landscape of cyber threats. This initiative not only provides immediate benefits to customers but also contributes to the broader goal of building a more resilient and secure business environment in the digital age.
Source: ITWeb BUI launches Cyber Security Warranty – a first in SA
