In the aftermarket industry, a custom-fit solution is important. One size doesn’t fit all — whether you’re talking about wrenches and fasteners or business risk management. Cyber insurance is one area where the wrong fit can be particularly risky.
Different industries face different risks, so it’s important to choose protection that’s suited to your business needs. The same off-the-shelf solution would be hard-pressed to address the diverse risks of a law firm, aftermarket business and hospital. In many cases, the result would be that each business would face certain exposures not covered by a catch-all solution.
At Lockton Affinity, we’ve thought a lot about the cyber risks our clients face and responded to the need with a more customized insurance solution. Here’s a look at how cyber coverage from our CyberLock Defense Insurance Program is especially tailored to the unique risks you face in the aftermarket industry.
The Cyber Threat to Business Industries
When business owners ask which industries are vulnerable to cyber attacks, they’re often surprised by the answer: all of them. A White House fact sheet highlights the importance of cybersecurity to businesses everywhere.
Businesses in every industry rely on computer systems and data to meet the needs of customers and clients. However, your business’s digital property is valuable not only to you but to cyber thieves, as well.
Cyber thieves target businesses in many industries, but the specific risks can vary. A custom-fit response is usually needed to protect against your specific vulnerabilities.
Cyber Insurance for Aftermarket Businesses
Believe it or not, aftermarket businesses have been a key target of cyber criminals in recent years. Affected businesses have lost wire transfers, millions of customer records and even entire computer systems to hackers. In recent years, the cost of cyber attacks within the broader automotive industry has risen 47%, to an average of $15.8 million per organization.
Lockton Affinity’s CyberLock Defense offers coverage specifically designed to help protect businesses in the aftermarket industry. This one-of-a-kind coverage protects automotive and motorcycle dealerships, aftermarket and other auto dealer businesses with coverage limit options for cyber theft, social engineering, cyber extortion ransomware and more.
Cyber Insurance for Your Business
When it comes down to it, the most important industry and business to protect from cyber threats is your own. In today’s world, simple tasks like answering email, storing data files and running a website can expose your business to significant risks.
Protecting your business against the increasing threat of cyber attacks should be as easy as possible. With CyberLock Defense, it is. CyberLock Defense now offers tailored coverage to suit the unique needs of more than 200 industries.
CyberLock Defense’s industry-leading Cyber Liability Insurance coverage is available with broad coverage and flexible limits. Lockton Affinity’s CyberLock Defense can help cover the cost of data restoration, business interruption, IT forensics, legal expenses, public relations and more.
Discover more benefits of cyber liability insurance for your aftermarket business today. Visit CyberLockDefense.com or call us at (844) 868-7144.
