Running your business is all about timing- getting what you promised made and delivered on time. Over the years, the integration of technology has helped immensely in you getting the contract or running your business more efficiently. Unfortunately, the increase of cyber threats has made it harder to keep your margins where they should be.
1In 2021, there were 3x the number of compromises compared to 2020 and double the attacks in 2019 in manufacturing & utilities industry.
Ways a Cyber Attack could Impact Your Business
1In 2021, there were 3x the number of compromises compared to 2020 and double the attacks in 2019 in manufacturing & utilities industry.
Impact your balance sheet
Impact to Supply Chain
Breach of Contracts (SLA charges)
Impact Your Reputation
There are things you can do to help mitigate costs and exposures. By adding cyber insurance you not only help protect your balance sheet, but it could help you get the next contract. When your partners know you have cyber insurance, they know you take the threat seriously and that you are less likely to have a breach of contract because of it, that you’re putting the steps in place to help prevent an attack.
2In 2021, there were 93 third-party supply chain attacks impacting 559 entities.
Improve your cyber strategy and insurability with Graham Cyber Blueprint® – a quick questionnaire that will help you see areas for improvement and general recommendations for next steps to improve your company’s cyber liability posture. These recommendations come from subject matter experts in risk management, insurance, and technology. With the cost of cyber insurance going up and coverage options becoming more limited, it’s important to have a strategy that helps protect your company and reduce premium costs. The results of the 5-10-minute questionnaire will help you see where you could use some guidance in:
- Identity and Permissions
- Tech Asset Integrity and Protection
- Logging & Management
- Process