Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Mobile Security //

iOS

// // //
2/6/2018
09:30 AM
Scott Ferguson
Scott Ferguson
News Analysis-Security Now

Apple & Cisco Look to Ease Burden of Cybersecurity Insurance

Apple and Cisco, along with insurance broker Allianz and risk assessor Aon, are looking to make cybersecurity insurance in the enterprise more affordable in the age of ransomware.

With enterprises increasingly dealing with the fallout caused by ransomware and other malware attacks, a group of companies, including Apple and Cisco, are looking to make cybersecurity insurance more affordable for businesses and their IT departments.

In addition to the two big tech companies, the group also includes insurance broker Allianz and risk evaluator Aon. The new offering, which was made available on Monday, is designed for enterprise customers who use specific combinations of Apple Inc. (Nasdaq: AAPL) and Cisco Systems Inc. (Nasdaq: CSCO) products and services.

While cybersecurity risks are increasing, many businesses do not have insurance to protect against losses. This is where the four companies are looking to offer policies that will allow enterprises to quality for coverage at lower cost. In some, there may be no deductibles at all.

However, as with any insurance policies, there are several important qualifiers.

(Source: Pixabay)\r\n
(Source: Pixabay)\r\n

For instance, enterprises interested in attaining a policy must use Cisco's Ransomware Defense software, which includes email security, endpoint protection and the ability to block certain websites, along with certain Apple products -- the iPhone, iPad and Mac -- to qualify. The Apple products were picked because of hardware encryption, as well as features such as Transport Layer Security (TLS).

In addition to the other qualifications, Aon will evaluate an enterprise's cybersecurity defenses and offer recommendations for improvement.

The policy is then underwritten by Allianz Global Corporate & Specialty (AGCS).

"Proactive analysis coupled with the latest technology creates an ideal defense against today's ever-changing ransomware and malware attacks," Bill Scaldaferri, president and CEO of AGCS North America, wrote in the February 5 announcement. "This strategic alliance with Aon, Apple and Cisco allows us to provide a unique solution to companies using this integrated platform to manage risk and ultimately strengthen their battle against high-profile threats."


The fundamentals of network security are being redefined – don't get left in the dark by a DDoS attack! Join us in Austin from May 14-16 at the fifth annual Big Communications Event. There's still time to register and communications service providers get in free!

While cybersecurity insurance is still a small part of the overall IT security market, it's one with potential to grow. A recent survey from Allied Market Research predicts this type of policy offering will grow to a $14 billion market by 2022, with a compound annual growth rate of 28% between now and then.

The fact that deal includes Apple and Cisco is proof of how close the companies have started working together to reach a larger share of the enterprise market.

At Cisco Live in Las Vegas in 2017, Cisco CEO Chuck Robbins and Apple's Tim Cook shared the stage and talked about working together, including creating a "fast lane" for iOS devices on Cisco's networks. (See Unknown Document 734041.)

"As the leading enterprise security company, we know that in a digital world security must come first, and our integrated security architecture reduces customers' overall risk of exposure to ransomware and malware attacks," Robbins wrote in this week's announcement.

Related posts:

— Scott Ferguson, Editor, Enterprise Cloud News. Follow him on Twitter @sferguson_LR.

Comment  | 
Print  | 
More Insights
Comments
Oldest First  |  Newest First  |  Threaded View
Edge-DRsplash-10-edge-articles
I Smell a RAT! New Cybersecurity Threats for the Crypto Industry
David Trepp, Partner, IT Assurance with accounting and advisory firm BPM LLP,  7/9/2021
News
Attacks on Kaseya Servers Led to Ransomware in Less Than 2 Hours
Robert Lemos, Contributing Writer,  7/7/2021
Commentary
It's in the Game (but It Shouldn't Be)
Tal Memran, Cybersecurity Expert, CYE,  7/9/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Developing and Testing an Effective Breach Response Plan
Whether or not a data breach is a disaster for the organization depends on the security team's response and that is based on how the team developed a breach response plan beforehand and if it was thoroughly tested. Inside this report, experts share how to: -understand the technical environment, -determine what types of incidents would trigger the plan, -know which stakeholders need to be notified and how to do so, -develop steps to contain the breach, collect evidence, and initiate recovery.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2022-39044
PUBLISHED: 2022-12-07
Hidden functionality vulnerability in multiple Buffalo network devices allows a network-adjacent attacker with an administrative privilege to execute an arbitrary OS command. The affected products/versions are as follows: WCR-300 firmware Ver. 1.87 and earlier, WHR-HP-G300N firmware Ver. 2.00 and ea...
CVE-2022-40966
PUBLISHED: 2022-12-07
Authentication bypass vulnerability in multiple Buffalo network devices allows a network-adjacent attacker to bypass authentication and access the device. The affected products/versions are as follows: WCR-300 firmware Ver. 1.87 and earlier, WHR-HP-G300N firmware Ver. 2.00 and earlier, WHR-HP-GN fir...
CVE-2022-42458
PUBLISHED: 2022-12-07
Authentication bypass using an alternate path or channel vulnerability in bingo!CMS version1.7.4.1 and earlier allows a remote unauthenticated attacker to upload an arbitrary file. As a result, an arbitrary script may be executed and/or a file may be altered.
CVE-2022-45910
PUBLISHED: 2022-12-07
Improper neutralization of special elements used in an LDAP query ('LDAP Injection') vulnerability in ActiveDirectory and Sharepoint ActiveDirectory authority connectors of Apache ManifoldCF allows an attacker to manipulate the LDAP search queries (DoS, additional queries, filter manipulation) durin...
CVE-2022-34840
PUBLISHED: 2022-12-07
Use of hard-coded credentials vulnerability in multiple Buffalo network devices allows a network-adjacent attacker to alter?configuration settings of the device. The affected products/versions are as follows: WZR-300HP firmware Ver. 2.00 and earlier, WZR-450HP firmware Ver. 2.00 and earlier, WZR-600...