Manufacturers Rejoice Cut Cyber Risk With Exclusive Quotes
The Financial Implications of Cyber Risks
Cyber incidents can be exceedingly costly. The average cost of a data breach in the manufacturing sector is estimated to be around $4.24 million2. This figure encompasses direct costs like system repairs and legal fees, as well as indirect costs such as customer turnover and reputational damage. By investing in robust cybersecurity measures and insurance, manufacturers can mitigate these financial risks.