How to sell cyber insurance to manufacturers

More and more manufacturers are moving their processes online as technology evolves to suit their unique needs. But as manufacturers move online, so do their risks. Manufacturers are deemed high-value targets for cyber criminals who could target them with financially motivated cyberattacks like extortion or simply to disrupt operations.

Make sure your manufacturing clients aren’t exposed to cyber attack with these top three discussion points:

Protecting operating systems

If a manufacturer’s operating systems are down, whether due to a cyber attack or a system outage, every minute offline will impact the bottom line. Struggles with important files, production processes and unreachable systems are very real risks that can escalate quickly causing business interruption.

CFC’s award-winning cyber policy provides instant access to a team of dedicated experts alongside an incident response team who will resolve the issue and get business moving again.

Learn how CFC’s cyber claims and incident response team helped a kitchen manufacturer recover from a ransomware attack that shut down their sales systems and slowed production

Safeguarding supply chain

The supply chain is an integral part of any manufacturer’s operation, but it can quickly cause knock on effects if someone else in the chain experiences system shortages.

Cyber insurance can offer business interruption cover in the event of a cyberattack or system downtime. Policies can also offer cover if one of the supply chain partners suffers an attack or experiences a system failure that causes a financial loss for the manufacturer.

CFC’s comprehensive cyber insurance policy offers market-leading business interruption cover for the manufacturer and their full supply chain.

Recovering lost funds

Most manufacturers think they’re safe from cyberattacks because they don’t hold large volumes of sensitive or personal data. But social engineering is one of the most common ways cyber criminals will trick manufacturers into handing over large amounts of money.

Cyber insurance is designed to help manufacturers recover from financially motivated cyber-attacks like ransomware or funds transfer fraud, not just data breaches.

Read how cyber criminals impersonated the CEO of a machinery manufacturer and transferred invoice payments to a criminal account

Cyber insurance should not be overlooked by the manufacturing industry. A comprehensive policy helps protect manufacturers against the financial loss resulting from cyberattacks, data breach, system failures and much more.

Learn more about CFC’s cyber policy or get in touch with the cyber team.