Cisco, Apple, Aon and Allianz have announced a new cyber risk management solution for U.S. businesses, comprised of cyber resilience evaluation services from Aon, the most secure technology from Cisco and Apple, and options for enhanced cyber insurance coverage from Allianz.
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.
Cyber security risk is growing. Losses from cyber threats are outpacing investment in IT securityi. This fact, combined with low adoption of cyber insuranceii, 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
i Source: Lloyd’s CEO: Cyber attacks cost companies $400 billion every year, Fortune, Jan 2015
Source: Cybercrime will Cost Businesses Over $2 Trillion by 2019, Juniper Research, May 2015
Source: Hackerpocalypse: A Cybercrime Revelation, 2016 Cybercrime Report, Cybersecurity Ventures, August 2016
Source: Forecast: Information Security, Worldwide, 2015-2021, 3Q17 Update, Gartner, Nov 2017
ii Source: Cyber Market Survey Spring 2017. https://www.ciab.com/resources/cyber-market-survey-spring-2017/
“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. “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.”
“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," said Tim Cook, Apple’s CEO. “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.”
“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,” 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 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.”
”Proactive analysis coupled with the latest technology creates an ideal defense 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.”
Allianz Global Corporate & Specialty (AGCS), part of the Allianz Group, is dedicated to global corporate and specialty insurance business. AGCS underwrites insurance and provides risk consultancy across the whole spectrum of specialty, alternative risk transfer and corporate business: Marine, Aviation (incl. Space), Energy, Engineering, Entertainment, Financial Lines (incl. D&O), Liability, Mid-Corporate and Property insurance (incl. International Insurance Programs).
Worldwide, AGCS operates in 32 countries with own units and in over 210 countries and territories through the Allianz Group network and partners. In 2016, it employed around 5,000 people and provided insurance solutions to more than three quarters of the 'Fortune Global 500' companies, writing a total of 7.6 billion euros gross premium worldwide.
AGCS SE is rated AA by Standard & Poor’s and A+ by A.M. Best.
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Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.
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