Apple CEO Tim Cook reveals discounted Cyber Risk insurance plan


Speaking at the Cisco Live event in Las Vegas on the 26th June 2017, Apple CEO Tim Cook spoke about the plans Apple is developing aimed at helping customers that use the Apple platform to improve cyber security and achieve discounts on their cyber insurance.

Here is a transcript of what he said:

“Cyber risk threats are growing exponentiall, it is not just a guy in his basement. There are sophisticated enterprises and every day you read news about a cyber-attack.  It's massive, it’s commercial theft, its fraud and things affecting public safety.

We know that there are a lot of people buying Cyber Security insurance and this market itself is getting heated up and as you can guess, it’s difficult to conclude how to price this [the insurance protection] because firms have to assess the vulnerabilities and risks.

The thing we share here [with CISCO] is that if your enterprise or company is using CISCO or Apple, the combination of these should make the insurance cost significantly less for you.

[Cyber Security protection] is something that we are going to spend some energy on because you [companies and individuals] should reap the benefit because you are safer.  There will be more on this coming out.”