Apple, Cisco, Aon, Allianz introduce cyber risk management solution

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

Cisco, Apple, Others Team on Cyber Risk Management, Insurance

The new solution, which is now available, is created to help organisations better manage and protect themselves from cyber risk associated with ransomware and other malware-related threats.

Security as a Service hasn't quite hit its stride in the enterprise - that is, if it ever will - but the complexities and threats out there are simply too much for many organizations too handle.

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

The new product covers the primary dimensions of cyber protection for businesses.

Apple and Cisco have teamed up with insurance companies to offer a new cyber risk management solution for businesses.

What's still uncertain is the exact terms of the contracts, and although Allianz has said deductibles will be non-existent in some cases, it isn't clear to which cases that would apply. Cyber crime insurance, once a little-known product, has gained traction as hacks involving large companies such as Equifax Inc and Target Corp have become more costly and commonplace.

According to Cisco CEO Chuck Robbins, digital security must come first - it's a matter of reducing customers' overall risk to things such as ransomware and malware.

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Apple products: iPhone, iPad and Mac give employees the best experiences at work with the strong security that businesses need. Users benefit from always-on hardware encryption, as well as support for secure networking protocols.

Organisations will also have access to Cisco and Aon's incident response teams in the event of a malware attack.

The new product is available now.

We know cyber risk is a concern, with malware top of mind. Combined with individual risk insights with the Cyber Resilience Evaluation, cyber security insurance coverage is enhanced for business customers. This holistic solution provides our clients with an integrated approach to addressing ransomware risk. 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.

U.S. cyber security premiums amounted to $1.35 billion in 2016, according to data gathered by Reuters from the National Association of Insurance Commissioners, and Monday's deal may go some way to entice businesses looking to protect their systems.

"This strategic alliance with Aon, Apple and Cisco allows us to provide a unique solution to companies using this integrated platform to manage risk and ultimately strengthen their battle against high-profile threats", added Bill Scaldaferri, President and CEO, Allianz Global Corporate and Specialty (AGCS) North America.

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