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Apple, Cisco team up with insurance companies to offer cyber policy discounts

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Apple Inc and Cisco Systems Inc have teamed up with insurer Allianz SE to offer discounts on cyber insurance to businesses that primarily use equipment from both technology companies, they said on Monday.

The arrangement, which also includes insurance broker Aon Plc, will help businesses fortify their cyber security defenses and make them eligible to score more favorable terms for cyber coverage, such as lower or no deductibles, along with support services in the event of attack, the companies said.

“The key here is a holistic approach to cyber,” Jason Hogg, chief executive officer of Aon Cyber Solutions, which helped develop the product, said in an interview.

The offering helps to streamline cyber security for businesses, which Hogg said are often addressed in a “siloed manner,” with everyone from technology staff to legal departments playing separate roles.

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