Thursday, April 26, 2018

Allianz links up with Apple, Cisco on cyber coverage

Allianz has forged partnerships with Apple and Cisco Systems to give businesses that use equipment from the two tech firms discounts on their cyber insurance policies.

Broker Aon also entered into a similar agreement with Apple and Cisco.

With the deals, businesses are expected to improve their cybersecurity defences and make them eligible to score more favourable terms for cyber coverage.

The benefits will include lower or no deductibles, along with support services in the event of an attack, the companies said.

According to Jason Hogg, chief executive officer of Aon Cyber Solutions, there is a need to use a holistic approach to package cyber insurance.

Hogg said that with the arrangements, cybersecurity strategies for businesses are expected to become more streamlined.

This is very different from the way companies presently address their cybersecurity needs, wherein everyone from tech staff to legal departments are involved in isolated roles.

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