In June we posted a report titled "The Cisco-Apple Partnership to introduce the most Advanced Privacy Controls for iOS Enterprise Devices this Fall." It was during that CiscoLive event that we first learned about the Apple-Cisco cyber-security insurance premiums program that was to begin in the fall of 2017.
We're learning today that Apple Inc and Cisco Systems Inc have teamed up with insurers Aon and Allianz SE to offer discounts on cyber insurance to businesses that primarily use equipment from both technology companies.
The new solution is designed to help a wider range of organizations better manage and protect themselves from cyber risk associated with ransomware and other malware-related threats, which are the most common threats faced by organizations today.
Apple's CEO Tim Cook stated that "The choice of technology providers plays a critical role in any company's defense against cyber attacks. 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. iPhone, iPad and Mac are the best tools for work, offering the world's best user experience and the strongest security. 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."
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 organizations to understand and manage this risk effectively. The new solution covers the primary dimensions of cyber protection for businesses. The key elements of the offering include:
Cyber Resilience Evaluation: Aon cyber security professionals will assess interested customers' cyber security posture and recommend ways to help improve their cyber security defenses.
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, acknowledging the superior level of security afforded to businesses by Cisco and Apple technology. This, in combination with individual risk insights gained through the Cyber Resilience Evaluation, makes possible the enhanced cyber insurance coverage to Cisco and Apple business customers. Enhancements include market-leading policy coverage terms and conditions, including potentially qualifying for lower, or even no, deductibles in certain cases. The cyber insurance coverage is underwritten by Allianz Global Corporate & Specialty (AGCS).
Cisco Ransomware Defense is part of Cisco's integrated security portfolio that leverages industry leading threat intelligence from Cisco Talos to see threats once, and block them everywhere. The solution includes advanced email security, next-generation endpoint protection and cloud-delivered malicious internet site blocking, to strengthen an organization's defenses against malware, ransomware and other cyber threats.
Apple products: iPhone, iPad and Mac give employees the best experiences at work with the strong security that businesses need. The tight integration of hardware, software and services on iOS devices ensures that each component of the system is trusted, from initial boot-up to installing third-party apps. Users benefit from always-on hardware encryption, as well as support for secure networking protocols like Transport Layer Security (TLS) and VPN out of the box.
Incident Response Services: Organizations will have access to Cisco and Aon's Incident Response teams in the event of a malware attack. The new solution is available today. For further information visit https://cisco.com/go/cyberinsurance
Chuck Robbins, Chairman and CEO, Cisco: "At Cisco, security is foundational to everything we do. As the leading enterprise security company, we know that in a digital world security must come first, and our integrated security architecture reduces customers' overall risk of exposure to ransomware and malware attacks. 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."
Jason Hogg, CEO, Aon Cyber Solutions: "Ransomware is an evolving risk that impacts every level of an enterprise. Organizations urgently need to be managing these risks from both the technical and the financial perspective. This holistic solution provides our clients with an integrated approach to addressing ransomware risk. We can provide customers with guidance on what cyber defenses, resources and processes to deploy to improve their cyber posture. It's the improved cyber posture that makes them eligible for enhanced/broader cyber insurance protection."
Bill Scaldaferri, President and CEO, AGCS North America: "Proactive analysis coupled with the latest technology creates an ideal defense against today's ever-changing ransomware and malware attacks. 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."
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