A discussion of data privacy and cybersecurity for the surety and construction industries. This is the first part of the series of six articles that debuted in the summer 2022 issue of Surety Bond Quarterly (SBQ). Part two will be published in the winter 2022 of SBQ. – NASBP SBQ article written by Myriah Jaworski, Member with law firm Clark Hill and a participant on the NASBP Attorney Advisory Council, and Chirag Patel, Senior Attorney with Clark Hill.
3) The Chain Reaction of Cybercrime in the Construction Industry – NASBP Blog
Considerations for contractors to help minimize the impact of a cyberattack. These surety executives urge contractors to create procedures and policies to prevent and to respond to a breach, as well as to check with their insurance provider to see if cyber coverage is available. Federal contractors, especially, should take heed, as they must comply with the government's stringent cybersecurity requirements or face risk of a False Claims Act investigation. – NASBP Blog co-written by Ken Chapman, Executive Vice President of Surety at IAT Surety, a member of IAT Insurance Group and Frank J. Tanzola, Senior Vice President, Chief Legal Officer for IAT Surety.
4) Cyber Risk & Response—Yesterday, Today, and Tomorrow – NASBP Virtual Seminar
An in-depth look at the evolution of cyber risk and insurance, including the impacts it is currently having and could have in the future on businesses of all sizes and industries. The presenter reviews loss trends, best practices, and spotlights ransomware with recent case studies, including the Colonial Pipeline incident of 2021. – NASBP Virtual Seminar presented by Megan D. North RPLU, MBA Vice President, Professional Lines Broker at Amwins Group.
5) Five Actions Construction and Energy Risk Managers Can Take to Avoid the Catastrophic Consequences of a Cyber Attack – NASBP Blog
Five steps to share with contractor clients to minimize the impact of a cyberattack. The author discusses cyber phishing and ransomware attacks in the construction industry, and the tolls that these take on a company. She suggests contractors be proactive and use these five steps to prepare for cybersecurity threats. – NASBP Blog written by Eve-Lynn Gisonni, Of Counsel with Saxe Doernberger & Vita, P.C.
Taking a proactive stance on cybersecurity will help you and your contractor clients be prepared for, and hopefully prevent, future cyberattacks.