Apple, Cisco, Allianz, Aon now offering cybersecurity insurance

Apple, Cisco Team Up With Insurance Companies to Offer Cybersecurity Discounts for Businesses

Companies worldwide have grown increasingly concerned with their cyber coverage following a number of large scale hacks such as the Equifax breach and the recent attack on retailer Target. Businesses using Cisco Ransomware Defense malware-blocking software and certain Apple devices can then apply for special cyber insurance through the specialty lines unit of Allianz SE, the companies said.

Apple Inc and Cisco Systems Inc have teamed up with insurer Allianz SE to offer discounts on cyber insurance to businesses that primarily use equipment from both technology companies, they said on Monday. Businesses that now use Cisco's Ransomware Defense and certain Apple devices will then be able to apply for special cyber insurance through Allianz SE. At the Cisco Live event last June, Apple CEO Tim Cook and Cisco CEO Chuck Robbins publicly spoke about an effort to work together to help enable cyber-security insurance.

"Ransomware is an evolving risk that impacts every level of an enterprise". "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".

"This holistic solution provides our clients with an integrated approach to addressing ransomware risk". These companies will provide guidance and support on improving digital security for their companies, and allow them to claim the enhanced cyber insurance if certified Apple and Cisco products are used.

"Proactive analysis coupled with the latest technology creates an ideal defense against today's ever-changing ransomware and malware attacks", said Bill Scaldaferri, President and CEO, AGCS North America.

Cyber Insurance: Allianz evaluated the Cisco and Apple technical foundation of the solution and determined that customers using Cisco Ransomware Defense, and/or qualified Apple products can be eligible for the Allianz-developed enhanced cyber insurance offering.

If a business is attacked, Cisco and Aon will provide access to their Incident Response Teams to offer assistance in the immediate aftermath.

McDonald agreed that partners stand to make gains with customers as a result of the integration of Cisco and Apple products with enhanced insurance products even though partners aren't selling the insurance themselves.

Cyber Resilience Evaluation: Aon cyber security professionals will assess interested customers' cyber security posture and recommend ways to help improve their cyber security defenses.

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