Cyber insurance for food, beverage and agriculture

Digitalization and automation are reaching into every aspect of food and beverage from processing to logistics.

New technologies can help companies improve productivity and efficiency, monitor and control the production process, reduce waste and ensure safety and quality.

But they can also bring increased cyber risks, expanding the size of the digital infrastructure giving cyber criminals a larger attack surface area.

As computer systems and operational technologies converge, these threats can affect every area of the business, not just IT, including:

• Supply chain
• Processing
• Production
• Quality control
• Distribution and sales

With cyber-crime becoming more sophisticated – and sensitivities around food and drink increasing – hackers can create disruption just by causing the wrong allergy information to be printed on a label.

Our cyber specialists

WTW has a large and a experienced cyber risk team which operates in the global marketplace.

Our specialists can tailor risk assessments to your business and help quantify your company’s exposures using powerful data-driven analytics.

Our cyber insurance broking and advisory specialists can help you decide which risks you need to transfer and design programs to optimize your cover and support your business strategy.

How we can help

Assess

We offer tailored services to help you identify and analyze your organization’s cyber risks across the entire enterprise and increase your incident preparedness and response. We identify potential gaps and vulnerabilities in your cyber defenses and provide practical solutions to help you reduce risks and increase resilience.

Quantify

We can help you predict potential losses if a cyber-attack were to happen in a variety of incident scenarios. Through our Cyber Quantified tool, we can estimate the likely impact and costs if an outage happened in your IT and operational systems or you suffered a serious data breach, helping you make better decisions on risk management strategy.

Protect

Our global risk advisors and brokers will help you get the protection you need, whether it’s standalone cyber insurance or extensions to another policy. They can create risk transfer solutions that optimize cover and balance sheet protection based on your risk profile. The team also offers post-incident support, claims advocacy and analysis to help you learn lessons and improve resilience.

What’s covered by cyber insurance

Standalone cyber insurance policies offer protection against a wide range of potential impacts, losses and costs in the event of a cyber incident.

• Network failure costs including loss of income and the cost of restoring digital assets
• Crisis management costs including IT forensics and public relations
• Third party damages and defence costs following a data breach
• Cyber extortion including the cost of security specialists and ransom payments
• Regulatory fines and penalties, where insurable by law

For specialist help discovering smarter ways to manage cyber risk in the food, beverage and agriculture sector, please get in touch.