More and more manufacturers are moving their processes online as technology evolves to suit their unique needs. But as manufacturers move online, so do their risks. Manufacturers are deemed high-value targets for cyber criminals who could target them with financially motivated cyber attacks like extortion or simply to disrupt operations.
Make sure your manufacturing clients aren’t exposed to cyber attack with these top three discussion points:
Protecting operating systems
If a manufacturer’s operating systems are down, whether due to a cyber attack or a system outage, every minute offline will impact the bottom line. Struggles with important files, production processes and unreachable systems are very real risks that can escalate quickly causing business interruption.
CFC’s award-winning cyber policy provides instant access to a team of dedicated experts alongside an incident response team who will resolve the issue and get business moving again.
Safeguarding supply chain
The supply chain is an integral part of any manufacturer’s operation, but it can quickly cause knock on effects if someone else in the chain experiences system shortages.
Cyber insurance can offer business interruption cover in the event of a cyber attack or system downtime. Policies can also offer cover if one of the supply chain partners suffers an attack or experiences a system failure that causes a financial loss for the manufacturer.
CFC’s comprehensive cyber insurance policy offers market-leading business interruption cover for the manufacturer and their full supply chain.
Recovering lost funds
Most manufacturers think they’re safe from cyber attacks because they don’t hold large volumes of sensitive or personal data. But social engineering is one of the most common ways cyber criminals will trick manufacturers into handing over large amounts of money.
Cyber insurance is designed to help manufacturers recover from financially motivated cyber attacks like ransomware or funds transfer fraud, not just data breaches.
Cyber insurance or E&O insurance should not be overlooked by the manufacturing industry. A comprehensive policy helps protect manufacturers against the financial loss resulting from cyber attacks, data breach, system failures and much more.
Learn more about CFC’s cyber policy or CFC's manufacturer's professional policy.
