Cybercriminals Want More Than Data; They Want to Wreak Havoc

Cyber

Cyber

More than your data is at risk. In today’s digital world, you must also consider the very real physical risks that can result from unauthorized access to all our “smart” equipment. Are you prepared to protect against or deal with a cyberattack that leads to physical damage?

Physical Vulnerabilities

Criminals intent on sabotaging a corporation, creating public panic or initiating political unrest have a multitude of potential inroads. Nearly anything controlled by a computer can be at risk — power grids, water facilities, manufacturing equipment, transportation systems, HVAC units, electronic key fobs, entry key pads, thermostats, even elevators. According to Symantec, it only takes two minutes to attack an “internet of things” or IoT device.

Clearing Insurance Confusion

Once you recognize that physical threats from cyberattacks are our new reality, you may find a great deal of ambiguity within the insurance market overall. It’s not uncommon for a heated debate to begin only after a claim surfaces, with alternate carriers disagreeing about when the actual point-of-transfer between nonphysical and physical damages occurs. Because of this, it’s particularly important to work with your insurance agent to identify and clarify specific coverage points and exclusions, paying particular attention to physical damages that might occur.

Click here to read the full article on physical risks resulting from cyberattacks, including recommended best practices.

Reach out to Shiraz Saeed, National Practice Leader, Cyber Risk for more information on how a Starr solution can work for you, or visit www.starrcompanies.com/insurance/cyberoverview

Published Date December 19, 2017 File Adobe Acrobat PDF, 230.5 KB Download