Apple, Cisco, Aon and Allianz have announced a new cyber risk management solution for businesses, comprised of cyber resilience evaluation services from Aon, 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 security, according to Chuck Robbins, Chairman and CEO, Cisco. This fact, combined with low adoption of cyber insurance, an active adversary, a fragmented security technology market and a security skills shortage, means it’s difficult for many organizations to understand and manage this risk effectively, he adds. 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, says Robbins. 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 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: The iPhone, iPad and Mac give employees the best experiences at work with the strong security that businesses need, according to Apple CEO Tim Cook. 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 .