These Days It’s Not Just an Iceberg That Could Sink the Titanic
Delivery schedules drive profitability and customer satisfaction for logistics and transportation companies. It only takes one ransomware or malware attack to have a detrimental impact on logistics schedules, including system shut downs and potentially significant delays in deliveries. But that’s not all. At stake is the integrity and theft of data, ranging anywhere from inventory lists to personally identifiable information (PII). What makes the transportation and logistics industry a particularly tempting target for cyber attacks is its global reach across all industries. At the same time, the large industry giants work alongside much smaller businesses that participate in one or more legs of the delivery. The multiple technology systems deployed to improve connectivity create third party risk that is challenging to manage.
This client, a universal port facility, knew they needed a line of sight to their cyber risk posture and vulnerabilities but didn’t know where to start. Beyond PII theft, they were concerned that a material incident could affect their balance sheet. Could an attack impact crane operation and the safety of people? Securing the integrity of the commercial data they managed was also crucial. For the containers entering and leaving their port, they needed to be certain of the contents, where the containers were going, who they were going to, and the route they traversed to reach the final destination. Critically, they needed to protect the entire organization and its shareholders should a significant cyber incident occur.
We conducted a cyber risk assessment to identify critical assets and vulnerabilities and develop a risk profile that considered the full threat landscape. We then quantified that risk. Using our Cyber Impact Analysis methodology, we modeled probable and maximum loss scenarios and determined the likely financial impact of each should an incident occur. Armed with this data, the risk and security teams communicated the value of recommended information security and insurance investments to the board and wider executive team.
- Provided line of sight into cyber exposures and delivered a risk management roadmap
- Quantified and modeled cyber risk to inform a selection of insurance policies
- Prepped their team to present to the board and C-level to obtain security funding
Your ship hasn’t sailed. Protect against a cyber attack.