White Paper

4 Questions Agents Should Be Asking Manufacturers About Cyber Risk

It’s not just about personally identifiable information (PII). Assessing cyber risk in manufacturing means digging deeper into operational technology and the people who protect it.

White Paper Summary

Thanks to continual advancements in technology, the line between the physical and digital world continues to blur, eroding traditional definitions of cyber risk. Originally, a company’s cyber exposure could be determined by its possession of PII.

But reliance on technology in all areas of business has greatly expanded the concept of cyber risk and made it more difficult for companies to accurately identity, quantify and mitigate their exposures.

Manufacturers, for example, hold very little PII. They do, however, depend on complex industrial control technology.  If this technology gets hacked, the consequences could include anything from product defects and supply chain disruption, to forced shutdowns that may result in business interruption losses suffered by themselves and their customers.

Given that cyber insurance is still evolving, businesses may have a hard time determining if they are protected from breaches that cause physical damage or other types of loss unrelated to PII. Agents and carriers have a critical role to play in building an understanding of traditional and emerging cyber exposure and addressing coverage gaps.

To learn more about The Hanover Insurance Group , please visit their website.

The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agents, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. For more information, please visit hanover.com.

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