Apple and Cisco Have Partnered Up For This Reason

In an effort to help companies stop losing money from cyber attacks, Apple and Cisco have teamed up together and with two insurance companies to offer discounted insurance for businesses.

The cybersecurity package includes discounted premiums for companies who use Cisco or Apple products.

Cisco made the announcement on Monday and said it had teamed up with Apple, as well as U.K. based Aon, a company that offers risk insurance, and Allianz Global Corporate and Speciality (AGCS), which will offer less expensive insurance to companies who use anti-ransomware security products from Cisco or Apple devices.

Apple CEO Tim Cook stated, “The choice of technology providers plays a critical role in any company’s defense 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.”

It was last week that Cisco revealed in a study that businesses that have advanced security setups are still vulnerable as they are experiencing several weeks of sales delay and are losing hundreds of millions of dollars in revenue over security concerns.

Disclaimer: We have no position in Apple Inc. (NASDAQ: AAPL) nor Cisco Systems, Inc. (NASDAQ: CSCO) and have not been compensated for this article.