MANUFACTURERS

 

cyber insurance for manufacturers

Manufacturers require cyber insurance to protect both their physical inventory and their intellectual property. Hackers target American manufacturers in hopes of stealing trade secrets, ripping off technology and parent information, and wreaking havoc on information databases and networks to thwart business. Chances are your business would be paralyzed if it was shut down due to a denial of service (DOS) attack- this is one example of the various ways foreign hackers target manufacturers.  The Chinese seek any and all information that could give them an economic advantage over US companies. The theft of trade secrets gives them an insider’s view of pricing and trade terms in order to undercut competition. Theft of intellectual property and technology allows them to bypass the research and development process completely. State-sponsored corporate espionage on behalf of the Chinese government should make every manufacturer worried: chances are they’ve already been targeted. A 2013 Verizon report revealed that 95% of state sponsored attacks were aimed that stealing trade secrets, and the majority of these targeted companies were considered small (10 employees or less) to midsize manufacturers.

COVERAGE INCLUDES

SYSTEM DAMAGE + BUSINESS INTERRUPTION

THEFT OF TRADE SECRETS

 

BREACH NOTIFICATION  

 

 CYBER + PRIVACY LIABILITY

 

MEDIA LIABILITY

 

 REGULATORY PRIVACY ACTIONS

 

 CYBER EXTORTION

 

 COURT ATTENDANCE COSTS

 

 CRISIS COMMUNICATION COSTS 

VERIZON’S 2014 DATA BREACH REPORT

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