Security Market Segment LS
Tuesday, 06 February 2018 03:44

A 'first' in cyber risk management claimed by Cisco, Apple, Aon and Allianz Featured

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Aeon Flux was a movie about a devastating virus that nearly destroyed all human life, but with Cisco, Apple, Aon and Allianz, you can manage cyber risks and malware-related threats and avoid any flux ups.

Promising a first in "cyber risk management" with a "combined approach integrating technology, services and enhanced cyber insurance to make businesses more resilient", the awesome tech titan foursome have a fearsome new solution.

We're told this new cyber risk management solution for businesses comprises of "cyber resilience evaluation services from Aon, the most secure technology from Cisco and Apple, and options for enhanced cyber insurance coverage from Allianz".

The solution is fearsome to the bad guys, of course, with the solution said to be "designed to help a wider range of organisations better manage and protect themselves from cyber risk associated with ransomware and other malware-related threats, which are the most common threats faced by organisations today".

As Apple's media release warns, the "cyber security risk is growing", and "losses from cyber threats are outpacing investment in IT security".

This stat has multiple sources, form an article from Fortune, Jan 2015, entitled "Lloyd’s CEO: Cyber attacks cost companies US$400 billion every year," to Juniper Research from May 2015 entitled: "Cyber crime will cost businesses over US$2 trillion by 2019."

Two more sources for good measure see one from Cybersecurity Ventures in August 2016, in an article entitled: "Hackerpocalypse: A Cybercrime Revelation, 2016 Cybercrime Report," with the final source being Gartner's November 2017 "Forecast: Information Security, Worldwide, 2015-2021, 3Q17 Update."

With that fact well established, Apple and its partners then warn of the "low adoption of cyber insurance", from Ciab's Cyber Market Survey Sprint 2017, combined with "an active adversary, a fragmented security technology market and a security skills shortage, means it is difficult for many organisations to understand and manage this risk effectively".

We are thus told that this new solution "covers the primary dimensions of cyber protection for businesses", and that "the key elements of the offering include:"

  • Cyber resilience evaluation: Aon cyber security professionals will assess interested customers’ cyber security posture and recommend ways to help improve their cyber security defences.

  • Cyber insurance: Allianz evaluated the Cisco and Apple technical foundation of the solution and determined that customers using Cisco Ransomware Defence, and/or qualified Apple products can be eligible for the Allianz-developed enhanced cyber insurance offering, acknowledging the superior level of security afforded to businesses by Cisco and Apple technology. This, in combination with individual risk insights gained through the Cyber Resilience Evaluation, makes possible the enhanced cyber insurance coverage to Cisco and Apple business customers. Enhancements include market-leading policy coverage terms and conditions, including potentially qualifying for lower, or even no, deductibles in certain cases. The cyber insurance coverage is underwritten by Allianz Global Corporate & Specialty (AGCS).
    • Cisco Ransomware Defence is part of Cisco’s integrated security portfolio that leverages industry leading threat intelligence from Cisco Talos to see threats once, and block them everywhere. The solution includes advanced email security, next-generation endpoint protection and cloud-delivered malicious internet site blocking, to strengthen an organisation’s defences against malware, ransomware and other cyber threats.
    • Apple products: iPhone, iPad and Mac give employees the best experiences at work with the strong security that businesses need. The tight integration of hardware, software and services on iOS devices ensures that each component of the system is trusted, from initial boot-up to installing third-party apps. Users benefit from always-on hardware encryption, as well as support for secure networking protocols like Transport Layer Security (TLS) and VPN out of the box.

  • Incident Response Services: Organisations will have access to Cisco and Aon’s Incident Response teams in the event of a malware attack.

The companies say the new solution is available "today", with further information here

Chuck Robbins, chairman and chief executive, Cisco said: “At Cisco, security is foundational to everything we do. 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.

“Cisco Security technology is central to the new holistic risk management solution and we are excited to bring another important benefit to our customers with greater options for cyber insurance.”

Tim Cook, Apple’s chief executive, said: “The choice of technology providers plays a critical role in any company’s defence against cyber attacks. That’s why, from the beginning, Apple has built products from the ground up with security in mind, and one of the many reasons why businesses around the world are choosing our products to power their enterprise.

“iPhone, iPad and Mac are the best tools for work, offering the world’s best user experience and the strongest security. We’re thrilled that insurance industry leaders recognise that Apple products provide superior cyber protection, and that we have the opportunity to help make enhanced cyber insurance more accessible to our customers.”

Jason Hogg, chief executive, Aon Cyber Solutions, said: “Ransomware is an evolving risk that impacts every level of an enterprise. Organisations urgently need to be managing these risks from both the technical and the financial perspective.

“This holistic solution provides our clients with an integrated approach to addressing ransomware risk. We can provide customers with guidance on what cyber defences, resources and processes to deploy to improve their cyber posture. It’s the improved cyber posture that makes them eligible for enhanced/broader cyber insurance protection.”

Bill Scaldaferri, president and chief executive, AGCS North America, said: “Proactive analysis coupled with the latest technology creates an ideal defence against today’s ever-changing ransomware and malware attacks.

“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.”

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Alex Zaharov-Reutt

One of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.

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