Apple Partners Allianz to Offer CyberCrime Insurance Perks

Cold Boot Attack to steal encryption keys.

A new partnership between Apple, Cisco and insurance firm Allianz SE will see businesses using hardware, software and services from the two former companies qualify for ‘enhanced’ cyber crime insurance.

The new solution, offered as ‘enhanced’ cyber insurance coverage from Allianz, is designed to better shield companies from commonly found cyber risks including ransomware and other malware-related threats, Apple has revealed. Further, the feature will see cyber resilience evaluation services from Aon, an insurance broker.

In order to apply for the special insurance policy, businesses must use malware-blocking software from Cisco alongside certain Apple hardware. Further, eligible users could potentially see lower deductibles on cyber insurance coverage alongside market-leading policy terms.

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

More specifically, Cisco and Aon will provide incident response services to businesses using Apple products to help them recover quickly from a malware attack.

Underlining the need to protect companies before or after ransomware attacks, Aon’s chief executive at the firm’s cyber solutions department added:

“Ransomware is an evolving risk that impacts every level of an enterprise… 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.”