Cisco, Apple, Aon, Allianz introduce a first in cyber risk management

Cisco, Apple, Aon and Allianz announced a new cyber risk management solution for businesses, comprised of cyber resilience evaluation services from Aon, the most secure technology from Cisco and Apple, and options for cyber insurance coverage from Allianz.

The new solution is designed to help a wider range of organisations better manage and protect themselves from the cyber risk associated with ransomware and other malware-related threats, which are the most common threats faced by organisations today.

The cyber security risk is growing. Losses from cyber threats are outpacing investment in IT security. This fact, combined with the 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. 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 defences.

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 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 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 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 organisation’s defences against malware, ransomware and other cyber threats.

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.

Oragnaisations will have access to Cisco and Aon’s Incident Response teams in the event of a malware attack. The new solution is available today.

“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,” said Chuck Robbins, Chairman and CEO, Cisco.

“The choice of technology providers plays a critical role in any company’s defence 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," said Tim Cook, Apple’s CEO.

“Ransomware is an evolving risk that impacts every level of an enterprise. Oragnaisations urgently need to be managing these risks from both the technical and the financial perspective,” said Jason Hogg, CEO, Aon Cyber Solutions. “This holistic solution provides our clients with an integrated approach to addressing ransomware risk. We can provide customers with guidance on what cyber defences, 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.”

“Proactive analysis coupled with the latest technology creates an ideal defence against today’s ever-changing ransomware and malware attacks,” said Bill Scaldaferri, President and CEO, AGCS North America. “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.”