Security company offers software insurance policy

Security company offers software insurance policy

Security vendor Citadel Software is now offering customers a software performance warranty.

Citadel Security Software has developed a novel way to assure customers that their products will perform as advertised. Backed by insurance giant, American International Group, it is now offering customers a software performance warranty that will cover costs related to security breaches.

Under the warranty, Citadel will keep its Hercules vulnerability management software up-to-date, updating critical security vulnerabilities within 24 hours and moderate risks within three days.

If the company fails to do this and a customer experiences system outages as a result, Citadel will cover these costs, up to a point, according to Citadel CEO, Steve Solomon. "If you get attacked based on our software, you have a warranty... up to the aggregate amount of your purchase," he said.

Costs in excess of the customer's Citadel licensing fees, or that relate to other expenses like liability lawsuits would not be covered, Solomon said.

"They've basically promised a money back guarantee," a senior analyst with Boston's Yankee Group Research, Phebe Waterfield, said.

She was unaware of any other security software vendors offering this kind of warranty, but predicted it would be a hit with customers, who are looking for more accountability from software companies. "I would like to see Symantec and Microsoft adopt something like this," she said.

The Citadel software performance warranty is available to new Hercules licensees and will cost nothing extra, Solomon said.

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