Computer hackers are targeting private and public companies, both large and small, at staggering rates. Construction companies are not exempt from these types of cyberattacks and must look at their cybersecurity in the same way they do any other type of risk.
Construction firms can start with identification and prevention by assessing their cyber security profile, identifying gaps in security and then deploying solutions that address cybersecurity gaps.
Unfortunately, no security system is foolproof. Hackers are successful in breaching the best-protected systems, so companies must also be prepared for when an attack is successful and for how they will respond. A tested incident response plan is key to a construction company’s ability to quickly respond to a cyberattack to minimize losses and downtime.
Construction companies should assess the cost of a cyberattack on the organization and how it will be managed. Purchasing cyber insurance is the best way to transfer the cost of an attack to an insurance company. Six reasons construction companies should consider mitigating the cost of a cyberattack by purchasing cyber insurance are:
October is National Cyber Month, a great time to evaluate incident response plans and cyber insurance coverage to help ensure construction firms are properly protected.
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