Apple and Cisco team with insurers to offer discounted cybersecurity insurance

The goal of the partnership, which also includes Aon and Allianz, is to streamline security and eliminate silos.

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Building a slide deck, pitch, or presentation? Here are the big takeaways:
  • Apple, Cisco, Allianz, and Aon are partnering to offer a new cyber risk management solution for business customers.
  • The new cybersecurity risk management product from Apple, Cisco, Allianz, and Aon will provide lower deductibles to customers that qualify.

A new cybersecurity risk management solution is in the works from Apple and Cisco, in partnership with insurance provider Allianz and professional services firm Aon, the companies announced in a Monday press release.

Each party will offer a different piece of the solution, ranging from risk assessment to follow-up services. The service is aimed at providing threat management to a broad range of companies, the release said, and could help organizations more easily cover their bases when it comes to cybersecurity.

The new solution handles the "primary dimensions" of cyber defense, the release said. If successful, it could provide an easy way for enterprises and SMBs alike to build a general foundation of cybersecurity in their organization.

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The new solution is geared primarily toward ransomware and malware-related threats, the release said. The first step in the solution is a Cyber Resilience Evaluation provided by Aon. Security experts from Aon take a look at a potential customer's cyber posture, and provide actionable steps for improving their security defense, the release said.

Another major aspect of the solution is cyber insurance. Customers that use Cisco Ransomware Defense and/or qualified Apple products can be eligible for a new enhanced cyber insurance provision from Allianz, which also offers opportunities for reduced rates.

"Enhancements include market-leading policy coverage terms and conditions, including potentially qualifying for lower, or even no, deductibles in certain cases," the release said.

Cisco Ransomware Defense and system-level security from Apple (Transport Layer Security (TLS), VPN, etc.) are also considered part of the solution.

"Proactive analysis coupled with the latest technology creates an ideal defense against today's ever-changing ransomware and malware attacks," Allianz Global Corporate and Specialty North America CEO Bill Scaldaferri said in the release.

If an attack does happen, Incident Response Services will be provided by Cisco and Aon to help mitigate the damage done by such incidents.

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