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MANUFACTURING

Manufacturing is the #4 industry for cyber insurance claims.

In the past 5 years, manufacturing accounted for 8% of cyber insurance claims. To date, the maximum cost of a manufacturing cyber incident has reached $20 million.

3 Types of Cyber Incidents Affecting Manufacturers

Ransomware

Malicious software used to threaten to publish or block access to sensitive data. A cybercriminal uses ransomware to encrypt files on a manufacturer's network and make them unusable. The criminal then demands a ransom in exchange for a decryption key that a manufacturer can use to access its files once again.

Intellectual Property (IP) Theft

A cyber attack used to access a manufacturer's trade secrets and other sensitive data. Cybercriminals launch IP theft attacks to steal a manufacturer's trade secrets and sell them for profit.

Phishing

When a cybercriminal sends an email or text impersonating a legitimate sender in the hopes of getting a recipient to download a malicious file or share sensitive information. Manufacturers are prone to phishing, since their supply chains provide hackers with many entry points.

What Cyber Attack's Look Like for Manufacturers

Industrial Espionage

A luxury boat manufacturer worker copied their employer's trade secrets onto a USB flash drive. The business discovered the data theft, and the now-former employee responsible for the cyber incident was charged with industrial espionage.

W-2 Phishing

A storage device manufacturer employee received an email from a sender who claimed to be the business' CEO. The sender asked the employee to share the W-2 forms of current and past workers. This employee shared the tax data with an unknown third party — and put the company's current and past workers at risk of identity theft and tax fraud.

Strategically Timed Attacks

Hackers used ransomware to encrypt the systems of a U.S. candy manufacturer only a few weeks before Halloween. The cybercriminals behind the ransomware attack demanded a ransom to restore access to the manufacturer's affected systems. They also forced the candy maker to temporarily shut down production at some of its manufacturing facilities.

When the worst happens, you'll have the best legal, technical and financial support

Backed by a multi-billion dollar insurance partner, DataStream provides broad coverage for your first-party and third-party losses, including breach, ransomware, cybercrime, cyber terrorism, and risk analysis tools.

SMBs

Small-to-medium businesses that do not offer IT consulting services to assist in managing the technology and security of other businesses.

MSPs

IT Consultant businesses (MSP, MSSP, etc.) that manage the technology and security of other businesses.