Most industries rely heavily on technology and computers. Whether to store data or communicate with clientele, cyber systems are integral to most business processes.
Each industry has specific vulnerabilities based on its operations. For instance, the financial sector often sends and receives money electronically, which involves the risk of being intercepted. On the other hand, the healthcare industry stores massive amounts of sensitive information for patients, which hackers could target.
It’s critical to analyze any potential cyber security weak points in your organization and have the proper cyber insurance to minimize potential risks.
Cyber Risk in the Hospitality Industry
The hospitality industry has its own set of unique cyber risks. As with most other fields, hospitality is now highly reliant on computers, but in a different way than most.
Hotels, resorts, and vacation rental hubs use the internet on a large scale for bookings and loyalty program information. Not only does this involve sending customer information electronically, but it also provides a dangerous landscape for phishing attacks.
Additionally, hotel chains and sites like Airbnb collect and store large amounts of employee and consumer data. As in any industry, large volumes of information create appealing targets for cybercriminals.
Data exposure and phishing in the hospitality industry can create significant liability risk and lead to costly legal issues with disgruntled customers.
Examine Your Vulnerabilities
Carefully examining your business operations and any potential cyber vulnerabilities is key. An experienced commercial insurance agent can help you make a cyber security plan and will protect your company from all angles with the right cyber insurance policy.
Please contact Steve Longenecker (303-808-9351, x2) at Mountain Insurance: Longmont to discuss your business insurance coverage options in Longmont, CO, and our neighboring communities.
We give out $25 gift cards for referrals that become our insurance clients.
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