Technology giants Apple and Cisco systems have partnered with insurers Aon and Allianz to launch a new cybersecurity risk solution for US firms.
Allianz will offer reduced insurance premiums to those companies that use Cisco’s ransomware defence or Apple’s iPhones, iPads and Macs.
The agreement combines secure technology solutions from Apple and Cisco with cyber insurance coverage from Allianz and cyber resilience evaluation services from Aon.
“Cyber security risk is growing. Losses from cyber threats are outpacing investment in IT security. This fact, combined with low adoption of cyber insurance, an active adversary, a fragmented security technology market and a security skills shortage, means it is difficult for many organisations to understand and manage this risk effectively. The new solution covers the primary dimensions of cyber protection for businesses,” said Alliianz.
For its part, Apple emphasised the benefits for companies using Apple products that take out Allianz insurance, claiming enhancements would include “market-leading policy coverage terms and conditions, including potentially qualifying for lower, or even no, deductibles in certain cases.”
“The choice of technology providers plays a critical role in any company’s defense against cyberattacks. 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," added Tim Cook, chief executive of Apple.
“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,” said Cisco chief executive Chuck Robbins.