Cyber Risk in the Construction Trade
So if you are in the building and construction trade you might not think that cyber risk or cyber attacks is a big uh possibility for your company you may think that you’re not a computer company you’re not a tech company what do you care about cyber well as a licensed general contractor but also we are a licensed commercial insurance broker we understand that cyber actually can affect anybody.

Recent Cyber Attack Impact
Just this week there was a very large Cyber attack against a company called cdk and cdk provided software for car dealerships because of that 10 to 15,000 car dealerships have been shut down for a week can’t sell cars because of this attack so even if you’re a construction company there might be a very high risk of a Cyber attack that could affect you it may not attack you directly but it may affect attack one of your vendors one of your suppliers uh maybe even software used for design or layout or other type of processes.

Indirect Cyber Attack Consequences
Even if you don’t consider yourself a tech company things like your payroll your accounts receivable U Contracting surety bonds all those may go through some platform and if you’re unable to uh access those for some period of time it may delay a construction project to put you past a deadline maybe it doesn’t allow you to get a draw for a uh a benchmark on a uh process of construction uh maybe the delay uh messes up your payroll where you can’t keep your help there are dozens of scenarios.

Hidden Cyber Connections in Construction
Scenarios where a Cyber attack can affect your construction business that you may not be aware of it’s not that you you know you’re stupid or you don’t know things but there’s a lot of hidden electronic and cyber connections your company has you want to get good advice from a u cyber defense person company or from a cyber Insurance expert you can see our website below actual human.com will have access to experts in all those fields and you can do a consultation and talk to them about the risk might be and talk to your insurance broker about cyber policies.

Standalone Cyber Insurance Policies
Now make sure when you talk to them you’re talking about a standalone separate cyber policy not just a rider or an endorsement on your existing policy most of the add-ons to an existing policy are very low limits $15,000 of cover and they have a lot of exclusions they really don’t cover a lot of things you want to look at a separate Standalone cyber liability insurance policy they’re not that expensive and nowadays the risk that you have as a business is much higher probability that the loss is going to come from a Cyber attack not something like fire burns down your Warehouse or um you know some other type of damage the higher probability of risk comes from cyber attacks and again even though you’re not tech company you’re a builder there’s risks and liabilities and perils you have that could really knock you out of business if you’re not careful.