National Roofing Partners (NRP) understands the threat of cyber-attack and how important it is to protect digital assets and access.  With a strong focus on technology solutions, NRP works with close to twenty different portals including the NRP Customer Portal to exchange information with national corporate accounts.  Security is of paramount importance when providing uninterrupted access and data that results in scalable and sustainable long-term roofing service, maintenance and replacement.

NRP works closely with leading technology experts along with industry risk professionals.  Partnering with Furman Insurance and C.N.A. for risk protection, NRP has the highest degree of risk and cyber-risk protection.  Recently, Furman Insurance shared information that is important for all companies in today’s technology world and NRP is happy to share it on our blog.

Per a recent report from Experian, a global information services group, businesses can expect to see an increase in the number and severity of cyber-attacks in 2017. The report also predicts that many politically-motivated cyber-attacks near the end of 2016 will escalate into a larger cyber-attack conflict and that businesses in the financial, security and health care industries will be the most frequently targeted.

 

What is Cyber Risk?

Cyber risk is the risk of financial loss, disruption, or damage to reputation because of breaches of data security, including unauthorized disclosure of data and comprise or failures of IT systems.

Specific examples include:

  • Security breaches where sensitive information is stolen or disclosed
  • Theft or loss of digital assets
  • Business interruption due to a virus shutting down a network
  • Costs associated with damage to data records caused by a hacker

 

Major Predictions

As a part of the report, Experian made five major predictions for cyber-attacks in 2017:

  • Password breaches will contribute to the abandonment of the password as a security measure. Although the theft of login IDs and passwords constitutes a short-term threat, the report states that cyber criminals continue to sell passwords long after they are stolen. And, as businesses and consumers are lured into a false sense of security after their password is unknowingly stolen, passwords alone will begin to fall out of favor. Instead, the report emphasizes that two-factor identification-where two separate pieces of authentication evidence are required-should be used by businesses to defend against cyber-attacks.
  • New, sophisticated attacks will continue to target the health care industry. Because medical identities and information remains relatively easy to access and profitable for hackers, the health care industry will continue to be a target in 2017. The report also states that large establishments, such as hospital networks, will continue to face threats like ransomware, a type of attack where an organization is “locked out” until a financial ransom is payed.
  • Politically-motivated and state-sponsored attacks will become more common. The large number of high-profile cyber-attacks at the end of 2016, along with the accusation that many of the attacks were state-sponsored, may lead to businesses being affected by the collateral damage of these attacks. Additionally, the report predicts that such attacks will only grow as politically-motivated hackers seek retaliation against others.
  • Hackers will focus on payment-based attacks, despite new credit card security measures. Although the switch to EMV chip cards and the PIN liability shift were expected to protect against payment breaches, uneven adoption could lead to additional cyber exposures in 2017. Additionally, criminals are beginning to use sophisticated skimming machines to steal card data at physical retail and ATM locations.

 

About National Roofing Partners

National Roofing Partners (NRP) was founded with the mission of continually improving the facility management capabilities of its customers by analyzing existing roof conditions, recommending and providing high quality single-source roofing replacements and services with dedicated support.  Building on the strong expertise of tier one commercial roofing contractors with over 120+ service locations and 8,000 employees nationwide, the network provides exceptional roofing and building envelope service and maintenance for customers.  For more information, visit www.nationalroofingpartners.com.

 

About Frank H. Furman, Inc.

Frank H. Furman, Inc. was established by Founder, Frank H. Furman Jr., in 1962 as an Independent Agency. The Furman Agency proactively manages the Risk and Insurance programs for middle market privately held corporations throughout the United States.  The Furman Agency helps clients develop relationships with providers that will maximize the impact to their operating budget. We invest in Risk Management resources that will help our clients mitigate their risk and comply with State/Federal regulations including OSHA, DOL, EEOC and with Employment Law awareness.