CYBER NEWS

Ransomware Cyber Guarantee Offers to Pay Up to $1 Million

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In late 2015, security firm SentinelOne added a brand new feature to their endpoint detection products designed specifically to restore files encrypted by ransomware. When we wrote about the company’s plans to release this solution, the component was supposed to be made available in the 1.6 versions of the Endpoint Protection Platform (EPP) and the Endpoint Detection and Response (EDR) products.

According to Dal Gemmell, the director of product management, the feature is designed to be free of charge.

Read More about Anti-Ransomware Tools

Even more interestingly, SentinelOne has decided to pay their customers $1,000 per endpoint for systems that end up being infected by ransomware. In other words, they are offering to pay their customers in case their products fail to block or remediate the infection.

SentinelOne has called this offer Ransomware Cyber Guarantee

It’s time for security companies to back their technology and provide users with the financial assurance they deserve against ransomware attacks. SentinelOne users now have that assurance. If we’re unable to block or remediate the effects of a ransomware attack that’s on us! And we’ll reimburse your company or organization up to $1000 per endpoint, or $1,000,000 in protection overall for the company. Guaranteed.

Ransomware Cyber Guarantee comes with a few “ifs”

Indeed, it’s refreshing to see a company that takes their customer service policy to a higher level. However, SentinelOne will pay only when their Endpoint Protection Platform has failed on computers with fully patched operating systems and enabled shadow volume copies, the Microsoft service that backs up files in use. In addition, affected customers should also respond immediately by adding the threats to a blacklist to remediate and rollback within an hour.

Read More about Cyber Insurance

Also, the $1,000 payment only applies to cases when ransom has been paid, not for other costs brought by ransomware. The company won’t be handing out payments in cases when the decryption key provided by the particular crypto virus’s operators has successfully decrypted the encrypted data. Finally, the maximum payment SentinelOne promises to pay to an individual client is $1 million.

Does the approach adopted by SentinelOne make you feel safer? Would you like to see other security vendors follow in these footsteps? Tell us in the comments below!

Milena Dimitrova

Milena Dimitrova

An inspired writer and content manager who has been with SensorsTechForum since the beginning. Focused on user privacy and malware development, she strongly believes in a world where cybersecurity plays a central role. If common sense makes no sense, she will be there to take notes. Those notes may later turn into articles! Follow Milena @Milenyim

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