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

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

Announced by the companies today, the initiative is intended to help businesses strengthen their cyber security defenses. It also incentivizes the use of approved “secure” products from Apple and Cisco. Firms which combine strong cybersecurity defenses with hardware from the vendors will be able to purchase insurance with a lower premium and extended support services.

“The key here is a holistic approach to cyber,” Jason Hogg, chief executive officer of Aon Cyber Solutions, which helped develop the product, said in an interview. The offering helps to streamline cybersecurity for businesses, which Hogg said are often addressed in a “siloed manner,” with everyone from technology staff to legal departments playing separate roles.

To protect the business in the event of an attack, Allianz will provide an “enhanced” cyber insurance offer. This will incorporate “market-leading” terms and conditions and the potential to qualify for lower or no deductibles. To be able to access the product, businesses must be actively using Apple hardware products or Cisco’s Ransomware Defense solution.

If a business is attacked, Cisco and Aon will provide access to their Incident Response Teams to offer assistance in the immediate aftermath. This will help firms to establish the scope of the incident and develop a strategy to secure their remaining services.

Security is a growing concern for businesses globally as more digital services are brought into the workplace, and many companies are finding it difficult to secure their devices and networks as they struggle to hire the necessary expertise.

“iPhone, iPad and Mac are the best tools for work, offering the world’s best user experience and the strongest security,” said Apple. “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.”