The 2015 Travelers Business Risk Index revealed that cyber risk is a top concern for manufacturers. The 2014 hack of a steel manufacturing facility in Germany that led to extensive physical damage and business interruption has made manufacturers look at cyber risk in a whole new light. It’s not just about data and computers anymore.
“People think of cyber risk in terms of data privacy, not property damage and downtime,” says Geoff Taylor, executive vice president for Willis Insurance Services of California. Brokers have the opportunity right now to help their clients – manufacturers and others – find the right cyber coverage for all of their cyber-related exposures.