Cybersecurity has always been a concern within the trucking industry. However, with technology requirements put in place last year by the federal government to shift to ELD (electronic logging devices), more opportunities for security threats exist. Cyberattacks have also been on the rise during the COVID-19 (Coronavirus) outbreak.
Transportation is one of the five most targeted industries for attacks, and these breaches are happening to trucking companies of all sizes. Some attackers focus on smaller companies as they feel they have an easier opportunity to gain access to their systems. Others like the challenge of larger companies with more sophisticated systems in place that may offer them a larger “payday”. A cyberattack could occur in many different ways from stealing personal information of your employees and clients to manipulating accounting information to divert funds and from malware to even shutting down your entire operation until the attacker is paid. These are just a few examples, but there are many more and the cyber world is changing on a daily basis.
With enhanced technological devices and connectivity, risks increase for companies from hackers and cyber threats. With each technology adopted comes additional cyber vulnerability that needs to be assessed and covered with a cyber policy with transportation insurance. There are a number of technology components that many trucking companies have adopted, such as:
Adaptive Cruise Control
Emergency Breaking Systems
Electronic Logging Systems
Front and Rear Cameras
With many vehicles, a single truck can have ten or twelve computers on board as tools range from communication to tracking or safety. With each additional computer device, threats increase and cybersecurity becomes more important. Sensitive cargo for trucking companies can increase the threat level even more. Terrorists who threaten our economy know that our country depends on the trucking industry to deliver. And, many are left vulnerable without the right transportation insurance.
To avoid becoming the next transportation company victim, implement steps to prevent unwanted attacks. The first step could be educating employees to prevent phishing scams and viruses from entering your system. Frequent backups are also a good idea as well as putting software defense systems in place. Disaster Recovery and securing an insurance policy with a cyber company who will handle all the details is equally important. Cyber Insurance is also relatively inexpensive, however an attack on your company could cost thousands, and some companies have even had to close their doors due to the cost of a cyberattack. Put a plan in place today to protect yourself, your company and your fleet for tomorrow.
Palomar Insurance Corporation delivers effective, tailored insurance programs to U.S. and international companies, both large and small. A national transportation insurance broker, they put their resources, relationships, and expertise to work for their clients. For more information, contact Plane Milam at (205) 263-5109, visit Palomarins.com or email email@example.com.