18 July 2018

Are printers an open door to cyber criminals?

With the EU General Data Protection Regulation having come into force on May 25, cyber security has never been a more important issue for printers and the printing industry.

In the past, under the UK's old Data Protection Act, print firms were classed as data controllers and not vulnerable to the kind of fines that GDPR will now introduce.

While printing technology has advanced at a rapid rate over the last 10 years, many companies have failed to increase security at the same rate. As print businesses have expanded their services to produce and manufacture products which might contain confidential or personalised data, this makes them more vulnerable to attacks from hackers who see it as easier than hacking large financial institutions who are likely to have greater security protection.

Printing businesses are also vulnerable to the same kind of email scams which any business should look out for. Printing company in Maidstone reported losing £20,000 to an email scam in which hackers sent an email, reporting to be from the Managing Director, to the accounts department asking for an urgent payment to be made.

Protection against the threat of cyber-crime is therefore crucial and this may require specialist insurance cover. A main commercial policy can provide some cover towards the cost of recovering data and lost income. However a cyber liability policy can cover subsequent fines and investigations from data protection regulators.
A specialist insurance broker, with knowledge of the challenges commercial businesses face, will provide invaluable advice, reassurance and obtain the right level of cover to meet business needs.

Howden has strong expertise in providing cyber insurance solutions and have created a guide which explains how to protect your print business from cyber attacks.

Here at the BPIF we can help make your business compliant with certification against both Cyber Essentials scheme and IASME governance. For more information on either of these please click here.

Author: Ethan Smart, BPIF Insurance, provided by Howden, [email protected]