b'CYBER SECURITYCompliance Issues: As governments tightenannounced a special endorsement for its cyber cybersecurity regulations, construction companiespolicy, specifically designed for construction may face fines or other penalties if they fail tofirms. The endorsement extends coverage to cyber comply with data protection laws. For instance, ifrisks specific to contractors; for instance, there a construction firm handles personal data, it mustis Missed Bid coverage, which would reimburse adhere to regulations such as the General Dataa construction firm for income loss due to being Protection Regulation (GDPR) in Europe or theunable to submit a bid because of a cyber security California Consumer Privacy Act (CCPA) in thebreach or system failure.United States. As the construction industry continues to digitize, Building a Cybersecurity Strategy the importance of cybersecurity cannot be Construction companies should develop aoverstated. While technology offers tremendous comprehensive cybersecurity strategy to mitigatebenefits, it also introduces new risks that must be the risks posed by cyberattacks. Key steps include: carefully managed. By understanding the industrys Employee Training: It is essential to educatespecific cyber threats and taking proactive steps employees on cybersecurity best practices, suchto mitigate them, including buying tailored cyber as recognizing phishing attempts, using stronginsurance available today, construction companies passwords, and safeguarding sensitive data. Acan protect their assets, reputation, and bottom well-trained workforce is the first line of defenseline in the face of an increasingly hostile cyber against cyber threats. landscape.Regular Security Audits: Regular security audits can help identify company system vulnerabilities before attackers can exploit them. Audits should include both internal systems and those of key vendors and subcontractors.Multi-Factor Authentication (MFA): ImplementingSUBSCRIBE TODAY TOMFA for all employees and contractors can significantly reduce the risk of unauthorized access to company systems.Data Encryption: Sensitive data should be encrypted at rest and in transit to ensure that even if attackers gain access to the data, they cannot easily read or use it.Incident Response Planning: Construction companies should develop and regularly update their incident response plans. These plans should outline how the company will respond to various cyber incidents, including ransomware attacks, data breaches, and insider threats.Cyber insurance: This form of insurance helpsCONTENT IS KINGbusinesses protect themselves against risks related to cybercrime and data breaches. It canDont miss any of our GREAT CONTENT!cover costs associated with a data breach, such as notification expenses, data recovery costs, eMagazineeNewsletterPodcastsdamages, legal fees, and other expenses related to managing a security breach. Additionally, it can Webinars LinkedIn, Twitter, Facebookoften provide assistance in the event of cyber-attacks, such as ransomware or phishing attacks.Cyber insurance can be tailored to businessesRoofingContractor.comindividual needs. AXA XL, for example, recently 12 www.mrca.orgMidwest Roofer'