Cisco, Apple, Aon, Allianz Partner on Cyber-Risk Management

The partnership allows each company to bring their distinct business focuses and strengths to the security solution; Apple and Cisco provide their respective security software and knowledge, Aon offers cyber resilience evaluation services, and Allianz brings cyber insurance coverage. North America is expected to lead the market during this time, though the European cyber insurance market is expected to grow the most rapidly.

USA 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.

The new security insurance offering is available today for U.S. customers only, although IT Pro has contacted Allianz to see whether it plans to extend this worldwide.

At recent Cisco events in Canada, MacDonald said, sessions that involved Apple drew large audiences because of "the growing security and cybersecurity risks of the explosive penetration of iOS devices in the corporate world". Cisco brings its security technologies to the partnership to help enforce and protect against threats, specifically ransomware attacks. Those customers will be able to set themselves up with Allianz rather than hunting down a policy after making a technology purchase.

"The opportunity here is it really simplifies a framework that says, 'here's the Cisco offering, here's the insurance and the technology companies that have come together to really paint a clear picture for customers about how they can get the right cyber coverage with the right Cisco technology to back it up, ' and then the opportunity for the partner to resell the technology that supports this solution", he said. 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.

Cisco's Ransomware Defense platform plays a pivotal role in the new program, providing email and endpoint security as well as the Cisco Umbrella platform.

Cisco Ransomware Defense is part of Cisco's integrated security portfolio that uses threat intelligence from Cisco Talos to see threats once, and block them everywhere. The arrangement uses Aon's resilience evaluation to formulate cybersecurity insurance potentially "enhanced" by low deductibles, or no deductibles in some instances.

  • Latoya Cobb