Apple, Cisco want cyber security insurance discount for joint customers

Reuters News
Posted: Jun 26, 2017 2:47 PM

(Reuters) - Apple Inc <AAPL.O> is working with Cisco Systems <CSCO.O> to help businesses that primarily use gear from both companies to obtain a discount on cyber-security insurance premiums, Apple Chief Executive Tim Cook told Cisco CEO Chuck Robbins onstage at a Cisco event in Las Vegas.

Cook argued that the combination of gear from the two companies was more secure than the use of competing technology, such as the Android mobile operating system made by Alphabet Inc's <GOOGL.O> Google.

"The thinking we share here is that if your enterprise or company is using Cisco and Apple, that the combination of these should make that (cyber-security) insurance cost significantly less," Cook said. "This is something we're going to spend some energy on. You should reap that benefit."

(Reporting by Stephen Nellis; editing by Jonathan Oatis)