Every industry is susceptible to cyber security risks, and the construction industry is no exception. The construction industry is largely unregulated when it comes to cybersecurity, so many companies fail to prioritize this issue. Many believe that their company doesn’t have anything a hacker could want, when in fact they hold sensitive information such as proprietary data, employee records, project designs, bid pricing, financial records, contracts, and more.
In order to protect themselves, construction companies need to have safeguards in place to prevent and react to any cyber-attacks as they increasingly rely on technology. So, what steps can you take to protect your company?
Sometimes, despite having internal controls in place, a breach can happen. Many companies mistakenly believe that their existing policies will cover them in the event of a cyber-attack and don’t have cyber liability insurance in place. The expenses resulting from a data breach can be costly and having the right cyber liability insurance in place for your business can potentially help cover resulting expenses including forensic investigations, lawsuits due to privacy breaches, regulatory fines, and more.
Our industry specialists are here to ensure that you have the right coverage in place. Reach out to one of our local AssuredPartners Construction experts today to hear what they recommend for your business.
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