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article imageApple and Cisco partner to make cyber insurance less costly

By James Walker     Feb 5, 2018 in Technology
Apple and Cisco have partnered with insurance companies to offer a discounted cyber insurance service. Businesses that source their hardware from Apple and Cisco will be able to claim a reduction on insurance policies sold by Allianz SE.
Cyber risk management
Announced by the companies today, the initiative is intended to help businesses strengthen their cyber security defences. It also incentivises the use of approved "secure" products from Apple and Cisco. Firms which combine strong cybersecurity defences with hardware from the vendors will be able to purchase insurance with a lower premium and extended support services.
The package is described as a "cyber risk management solution" to help enterprises gain control of cybersecurity within their business. Security is a growing concern for businesses globally as more digital services are brought into the workplace. Many companies find it difficult to secure their devices and networks as they struggle to hire the necessary expertise.
The solution advocates a proactive security model to withstand emerging threats and attacks. Businesses which qualify will receive a cyber security posture analysis from Aon. This will include recommendations on how to address potential weaknesses and improve cyber security defences.
Enhanced insurance
To protect the business in the event of an attack, Allianz will provide an "enhanced" cyber insurance offer. This will incorporate "market-leading" terms and conditions and the potential to qualify for lower or no deductibles. To be able to access the product, businesses must be actively using Apple hardware products or Cisco's Ransomware Defense solution.
If a business is attacked, Cisco and Aon will provide access to their Incident Response Teams to offer assistance in the immediate aftermath. This will help firms to establish the scope of the incident and develop a strategy to secure their remaining services.
Apple and Cisco have partnered with Allianz to offer discounted cyber insurance
Apple and Cisco have partnered with Allianz to offer discounted cyber insurance
Apple
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According to the partners, the solution will help make cyber insurance more accessible to a larger array of firms. They said many digital companies are under-insured for the current threat ecosystem.
The partnership is also a significant initiative for Apple, which has recently suffered from a string of embarrassing security incidents. The company's now been recognised by insurers as a reliable hardware vendor for enterprise use.
"iPhone, iPad and Mac are the best tools for work, offering the world's best user experience and the strongest security," said Apple. "We're thrilled that insurance industry leaders recognize that Apple products provide superior cyber protection, and that we have the opportunity to help make enhanced cyber insurance more accessible to our customers."
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