Technology > Security

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Besides being the world leader in wearable technology and smartphones, Apple has staked its claim in the insurance industry by forming a joint venture with Cisco, Aon, and Allianz that will offer cybersecurity insurance to businesses, writes Johnny Evans of Computerworld.

The new insurance product will help businesses manage and protect themselves from cybersecurity threats rising from ransomware and other malware, which are the most common digital perils faced by organizations today.

For his part, Tim Cook said they are delighted that the insurance industry acknowledges the superior cyber protection afforded by Apple products.

The salient features of the new insurance call for Aon to partner with a company that wants to buy cyber insurance to assess how secure their cyber assets are, and to make recommendations if necessary.

The company, after consulting with Aon, will implement Cisco’s Ransomware Defense on its Apple devices. It can then buy a lower-cost cyber insurance from Allianz.

The Cisco Ransomware is part of Cisco’s integrated security portfolio and relies on intelligence from Cisco Talos to immediately block a cyber threat to an enterprise once it is identified. It includes advanced e-mail security, next-generation endpoint protection, and cloud-delivered malicious internet site blocking.

Insurers reportedly earned US$1.35 from cyber insurance in 2016, which is 35-percent higher than 2015 earnings.

A lot of businesses are buying cyber insurance because cyber threats are increasingly becoming bigger. The damage done by cyber breaches are also increasing because in a connected world, when one thing goes wrong in one node, it will have an impact elsewhere.

In conclusion, Evans believes that a better world is made possible by the partnership between the four companies.

Apple’s highly secure platforms working together with Cisco’s networking technologies and cutting-edge security checks deliver better cyber protection than other platforms.

It also sends the message that Apple is the most secure technology provider for the enterprise, with Cisco and Allianz bearing witness to such a claim.