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Research & Briefings

Building Blocks to Managing Cyber Risk in the Construction Sector

 


In an increasingly digitalised economy, the construction industry is relying more heavily on technology to achieve operational efficiencies, resulting in a heightened exposure to cyber risk.

While technological advancements continue to assist the industry to become increasingly efficient, it can also make construction companies more attractive targets for cyber criminals and nation-state actors looking to steal data, ransom systems or otherwise disrupt companies’ operations. 

In fact, in our recent cyber webinar specifically for the construction industry titled ‘Cybersecurity and Construction: Building Blocks to Managing Cyber Risk’ which was hosted in conjunction with Clyde and Co, our presenters revealed that in August 2020, the construction sector was among the top three industries for the most targeted incidents based on Clyde and Co client data. Ransomware was also the most common type of cyber-attack, becoming even more increasingly complicated and sophisticated and targeting organisations where there is potential to cause a substantial operational impact.

The webinar also goes in detail to discuss:

  • The current cyber risk landscape, including key trends and developments,
  • Specific risks and exposures for the construction industry,
    The anatomy of a breach – the incident response process in practice; and
  • How to mitigate the risk to your construction business 

Take a look at our highly insightful and industry specific webinar now to unpack these insights and more. 

For further information about ‘How Technology is Reshaping the Construction Sector’ and how Marsh can help manage the risks, check out this additional resource or contact us.


Please note: The contents of this webpage and the webinar are general in nature, are not intended to be taken as advice regarding any individual situation and should not be relied upon as such. For details of the terms, conditions and limitations of any Cyber insurance cover and before making any decision about whether to acquire a Cyber insurance product, refer to the specific policy wordings. Any statements by Marsh touching on legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as legal advice for which you should consult your own professional advisor. The information is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh makes no assurances regarding the availability, cost, or terms of insurance coverage. LCPA No. 20/287
 

Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.