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Cyber Risks and Insurance Solutions in the Construction Sector

A practical and comprehensive guide to understanding and managing the real threat of cyber risk in the construction industry in Australia – from our leading cyber risk expert.
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Cyber and technology risk is a key concern for businesses worldwide – and the Australian construction industry is not immune, after having suffered its fair share of cyber-related disruption.

Multinational firm or small contractor – the risk of damage, loss or disruption is still high, as cyber crime becomes increasingly complex and sophisticated. The construction industry is fair game to cyber criminals who have proven themselves capable of infiltrating IT infrastructure, breaching data security and privacy, bringing operations to a standstill, and holding businesses (and their clients’ information) to ransom.

For the construction industry, it’s no longer a question of whether the threat is real, but more so how resilient your business is and whether you’re prepared with the right – risk mitigation and transfer strategies.

Our construction industry cyber risk guide can help you better understand the threats and assess your strategy and program.

Our guide at a glance

Marsh global cybersecurity expert Kelly Butler sets the scene for the construction industry in Australia, elaborating on:

  • Real-life impacts of cyber events, with examples of a ransomware attack, data theft, phishing scam, system breach and third-party vendor risk
  • Financial impacts
  • Two-tiered approach for managing cyber risk
  • A ransomware scenario to assist your planning – with possible impacts and actions to consider.

Guide

Understanding cyber risk in the construction industry

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Why Marsh

As experts in enterprise and cyber risk, we help you take an enterprise wide, scalable approach in building your cyber resilience.

Together, we identify your risks, and develop a best-for-you program and team of partners to help manage it.

Informing your approach and decision-making process with our 25 years of cyber expertise and data-driven insight. So that your path to cyber resilience is more productive and predictive; and your outcomes are more efficient and effective.

LCPA 23/340

“Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.”