The Path to Implementing a Sound Cyber Risk Management Plan
The transportation, trade and logistics sector, like any other industry vertical, has been hit by ransomware, social engineering and other cyber threats. These threats upend operations and increase the total cost of risk for companies. In fact, transportation ranks among the top five industry sectors vulnerable to ransomware. There are several reasons why the transportation and logistics sector is so cyber-exposed, including its dependency upon third-party networks; the speed with which logistics transactions are conducted; the number of stakeholders involved in sharing information; and the potential access to confidential and sensitive financial, employment and intellectual property records.
Without a sound cyber risk management plan in place that includes cyber security measures, cyber support services, and cyber insurance, navigating today’s threats may leave your operation stranded and paying out hundreds of thousands of dollars in out-of-pocket expenses.