The past few years have seen a dramatic increase in the number of cyberattacks in the manufacturing sector. As the number and sophistication of these attacks grow, many manufacturers are seeing the need for protection on multiple fronts. Aside from taking precautions with your network and data, peace of mind can also come in the form of insurance for manufacturers.
Increasing your company’s cybersecurity should focus on several levels, most notably, network segmentation, data encryption, and data backup. As automation in manufacturing continues to increase, so do the opportunities for hackers to access communications, intellectual property, data, and operational systems. While each part of your business should be evaluated for vulnerabilities and integrated into your cybersecurity plan, it is nearly impossible to defend against every new type of attack, making insurance an integral part of your plan to defend your business.
As a business owner, you may also need to keep an eye on the legal changes that come with technological advances. Due to new legislation, general insurance policies may no longer be enough to cover losses due to a cyber incident, so working with an insurance company that specializes in custom insurance for manufacturers is another way to protect your business. An insurance specialist that focuses on manufacturers should keep abreast of all these changes, helping save you from unnecessary loss.