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- Title
Safeguarding Ascension: The vital role of cyber and crime insurance for elevator contractors and suppliers.
- Authors
Shipp, Luke; Walker, Trey
- Abstract
This article discusses the importance of cyber and crime insurance for elevator contractors and suppliers in today's digitized world. Elevator contractors and suppliers face unique challenges in safeguarding their operations against cyberattacks and fraudulent activities. Cyber insurance provides coverage for business interruption, data breach response, data loss and restoration, cyber extortion, and legal and regulatory costs. Crime insurance protects against losses resulting from theft, embezzlement, forgery, and other fraudulent activities. These insurance policies are crucial for protecting sensitive data, safeguarding reputation, ensuring contractual obligations, and providing peace of mind. By investing in comprehensive insurance coverage, elevator contractors and suppliers can mitigate financial risks and ensure the continuity of their operations.
- Subjects
COMPUTER crimes; ELEVATORS; DATA security failures; BUSINESS continuity planning; SUPPLIERS; COMPUTER fraud; INSURANCE policies; EMPLOYEE theft
- Publication
Elevator World, 2024, Vol 72, Issue 7, p36
- ISSN
0013-6158
- Publication type
Article