Apple and Cisco team up with Allianz and Aon to offer cyber risk management solution

On Monday, Apple, Cisco, Allianz, and Aon announced a new cybersecurity insurance solution for all businesses, consisting of options for improved cyber insurance coverage from Allianz, the secure technology from Apple and Cisco, and cyber strength evaluation services from Aon. The new solution is developed to help a wide variety of businesses better protect and manage themselves from the most commonly faced cyber threats like ransomware and other malware-related risks.

“The choice of technology providers plays a critical role in any company’s defense against cyber attacks. That’s why, from the beginning, Apple has built products from the ground up with security in mind, and one of the many reasons why businesses around the world are choosing our products to power their enterprise,” said Apple CEO Tim Cook, in a statement.

Cybersecurity is not a small problem for today’s businesses. Some of the companies like Target and Equifax have faced large-scale hacks and addressing those hacks also costs high. Reuters reported that according to National Association of Insurance Commissioners, U.S cybersecurity premiums were approximately 1.35 billion dollars in the year 2016.

For Cisco and Apple, the new solution could help them engage more business clients to their products, possibly helping them to beat contenders to win these large customers.

The new cyber risk management solution will include Aon’s cybersecurity experts analyzing potential clients' current cybersecurity circumstance and give suggestions on the best way to enhance their security. And participating businesses will have access to Aon and Cisco Incident Response groups in the malware attack event.

“At Cisco, security is foundational to everything we do.  As the leading enterprise security company, we know that in a digital world security must come first, and our integrated security architecture reduces customers’ overall risk of exposure to ransomware and malware attacks,” said Chuck Robbins, Chairman and CEO, Cisco. “Cisco Security technology is central to the new holistic risk management solution and we are excited to bring another important benefit to our customers with greater options for cyber insurance.”

Source: Apple official newsroom