CONSTRUCTION INSURANCE
ABL EXECUTIVE DIRECTOR AND CONSTRUCTION SPECIALIST, TREVOR MCCLINTOCK, DISCUSSES THE RISKS POSED TO THE INDUSTRY FROM CYBER-CRIME AND HOW TO PROACTIVELY PROTECT YOUR BUSINESS FROM SUCH EXPOSURE…
Cyber Security: how to protect your construction business
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quantification of the options for risk transfer through insurance solutions.” The first step, according to Trevor, is to be conscious of the top current cyber threats in the construction sector: ransomware, payment interception, phishing, viruses and hacking. Trevor explains, “Ransomware is a malicious programme that locks access to company files until a ransom payment
a ransom to reaccess your system and files, but there’s no guarantee that access will be granted even after a ransom has been paid. This can leave the door open for criminals to demand additional sums. “Payment interception is when criminals are able to compromise the email account or credentials of an individual within the construction company, and authorise a change to the bank account details for large payments. “Phishing emails are malicious emails designed to look like the genuine article and encourage employees to click on them, which then infects your company’s computers. Other threats include viruses – codes that infect your computer system, corrupting or deleting data – and hacking
immune to privacy and cyber security
risks, and the construction industry is no exception. However, you can protect your business against a potential cyber-attack by understanding the risks and vulnerabilities and developing a plan. Trevor McClintock, Construction Executive Director for ABL Insurance
Trevor McClintock, Executive Director at ABL Group.
and construction specialist explained, “At boardroom level, construction companies need to have a proactive approach to cyber risk identification and the
is made and access can be restored. There has been an increasing number of ransomware cases in recent years. Not only is there a cost associated with paying
“No industry is immune to privacy and cyber security risks, and the construction industry is no exception.”
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