Skip to content
  • Home
  • About
  • Testimonials
  • Blog
  • Contact
  • Internet Terms and Conditions
  • COVID-19: Financial Difficulties
  • Product Guide
    • Cyber
    • Directors & Officers
    • High Risk Liability
    • Ice Cream & Catering
    • Licensed Trade
    • Medical Malpractice
    • Professional Indemnity
    • Property Owners
    • Terrorism
Address

1 Oak House, Woodlands Court,
Albert Drive, Burgess Hill,
West Sussex, RH15 9TN

info@bc-uw.com

01444 810 444

  • Home
  • About
  • Product Guide
  • Blog
  • Contact
  • Privacy Policy
  • Cookie Policy
Bennett Christmas Underwriters logo
Bennett Christmas Underwriters logo
  • Home
  • About
  • Products
  • Testimonials
  • Blog
  • Contact
MANUFACTURERS NEED TO PRIORITISE CYBER SECURITY, WARN EXPERTS

MANUFACTURERS NEED TO PRIORITISE CYBER SECURITY, WARN EXPERTS

Categories

  • Business
  • Personal
  • BC Underwriting News
  • Insurance Industry News
  • Cyber
  • Property
  • Uncategorised

Archives

  • October 2020
  • June 2017
  • May 2017
  • January 2017
  • November 2016
  • 2020
  • 2017
  • 2016
12th June 2017

Are manufacturers putting off their cyber defences because they don’t believe themselves to be at risk, or because they simply don’t know where to start?

In 2011, the government and IT specialists Detica undertook a study which suggested that hi-tech manufacturers, including those working in aerospace, electronics and pharmaceuticals, were high-risk targets for cyber crime.

Yet despite this caution, less than a third (31%) of manufacturers see cyber security as a high priority. This is in contrast to the financial services, 60% of whom rated cyber security as a very high priority, and is even less than retailers at 39%.

This lax attitude is disproportionate to the threat for manufacturers, as Robert Holmes, vice-president of products at IT security provider, Proofpoint, explains,

“The irony is that manufacturers are in reality a prime target, not just in terms of the value of the assets that they have exposed to cyber security risk, but also the velocity of their transactions – a velocity that means that there’s a higher chance that a cyber attack might be successful,” he says.

“So when looking at manufacturing businesses, attackers see opportunities to help themselves to both cash and data, which when coupled with an apparent lack of cyber security awareness among manufacturers tends to make such thefts easier to carry out.”

With automated equipment, intellectual property, data, and payment systems all to protect for a start, the challenge of any manufacturer is questioning which area of their business is a priority.

Stuart Reed, senior director for market strategy at NTT Security urges business not to get overwhelmed by the task at hand.

“Get the basics right: without the right practical fundamentals in place, attacks do not need to be advanced to succeed,” he said.

“People are a manufacturer’s greatest threat – so invest in staff awareness and training, and highlight the importance of collective responsibility.”

If you’re a manufacturing business and are concerned about your cyber security, talk to our experts at BC Underwriting. We can offer advice on how to protect against risks, as well as look into a cyber insurance policy that’s going to stand up to them in the future.

Newsletter Signup

    PostEmailTelephoneTexting

    Related articles

    ARCHITECTS AND ENGINEERS: THE NEED FOR PROFESSIONAL INDEMNITY

    As an engineer or architect, you work in a highly skilled, detail-oriented industry and are expected to provide quality design services that are free of errors or omissions.

    Read More
    Read More

    HOTELS: HANDLING THE WINTER WEATHER

    Winter weather can bring about a host of unique challenges for you and your employees

    Read More
    Read More

    SPRING INTO ACTION

    As the clocks go forward this weekend, there are a few things you should be aware of.

    Read More
    Read More

    WAKE-UP CALL FOR BUSINESSES AFTER NHS HIT WITH RANSOMWARE ATTACK

    Over the last 48 hours, news headlines have been dominated by the ransomware attack which has affected some NHS services and numerous other organisations around the world.

    Read More
    Read More

    MANUFACTURERS NEED TO PRIORITISE CYBER SECURITY, WARN EXPERTS

    Are manufacturers putting off their cyber defences because they don’t believe themselves to be at risk, or because they simply don’t know where to start?

    Read More
    Read More

    HOW MUCH PI DO YOU REALLY NEED?

    Here are the three key aspects a business should consider.

    Read More
    Read More

    SOCIAL MEDIA: AN INTRODUCTION FOR BROKERS

    With social media’s exploding popularity, it is increasingly risky for businesses to ignore this medium.

    Read More
    Read More

    DIRECTORS AND OFFICERS

    Directors and Officers Liability (D&O) insurance is a fundamental component of any company’s risk management programme.

    Read More
    Read More

    THE RISKS FOR LICENSED PREMISES

    As the owner of a pub, bar or nightclub, the risks you face can sometimes seem endless. Here's how insurance can help reduce problems.

    Read More
    Read More

    TOP 10 WAYS TO CONTROL YOUR EMPLOYERS' LIABILITY COSTS

    Insurers will likely analyse at your claims history when underwriting your employers’ liability premium.

    Read More
    Read More

    UNDERSTANDING TENANTS INSURANCE

    Just because your landlord has cover does not mean that you do too.

    Read More
    Read More

    DIRECTORS & OFFICERS INSURANCE: A BUSINESS ESSENTIAL

    D&O insurance gives directors and officers the confidence to know there is support to pay compensation or defend claims or prosecutions when things go wrong.

    Read More
    Read More

    LIABILITIES OF LETTING YOUR HOME

    If you are considering letting your home, consider the following.

    Read More
    Read More

    HOW DOES PROFESSIONAL INDEMNITY RUN-OFF COVER WORK?

    To understand how run-off cover functions, you first must understand how claims-made insurance policies operate.

    Read More
    Read More

    THE NEED FOR PROFESSIONAL INDEMNITY

    The need for professional indemnity (PI) cover has grown over the past several decades as more people enter professional service-based professions.

    Read More
    Read More

    UTILISE SOCIAL MEDIA

    Businesses, especially brokers, cannot afford to forgo participating in social media

    Read More
    Read More

    TERRORISM INSURANCE - DO YOU NEED IT?

    Terrorism is not new, but the frequency, audacity and geographical reach of terrorist attacks have noticeably increased in recent years. Does your business need cover?

    Read More
    Read More

    GET TO GRIPS WITH LINKEDIN

    Our guide to creating and maintaining a presence on LinkedIn

    Read More
    Read More

    DO I NEED PROFESSIONAL INDEMNITY INSURANCE IF I’M SELF EMPLOYED?

    With so many self-employed individuals getting to grips with their own tax, laws and insurance covers, we ask if professional indemnity insurance should be on your shortlist…

    Read More
    Read More
    Company logo
    • Home
    • About
    • Testimonials
    • Blog
      • Internet Terms and Conditions
      • Privacy Policy
      • Modern Slavery Act Statement
      • Cookie Policy
      • COVID-19: Financial Difficulties
      • Terms of Business
    • Products
      • Cyber
      • Directors & Officers
      • High Risk Liability
      • Ice Cream & Catering
      • Licensed Trade
      • Medical Malpractice
      • Professional Indemnity
      • Property Owners
      • Terrorism
    Contact

    1 Oak House,
    Woodlands Court,
    Albert Drive,
    Burgess Hill,
    West Sussex,
    RH15 9TN
    info@bc-uw.com
    01444 810 444

    Ethos Broking Logo

    BC Underwriting is a trading style of BC UW Ltd. BC UW Ltd is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 573625), and is an appointed representative of Bennett Christmas Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA) (Firm Reference Number 435237). BC UW Ltd is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 573625). Registered office: Hexagon House, Grimbald Crag Close, St James Business Park, Knaresborough HG5 8PJ.

    Website designed and developed by Bravo Networks © Copyright 2023.