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Back to Cyber Risk Overview

Covering the unique cyber risks construction clients face every day

  • Cyber risk exposure is a growing concern for the construction sector as the industry migrates to ‘smart’ systems that automate project design, safety management and project delivery.
  • Growing reliance on digital communications to connect with partners, suppliers and subcontractors can also increase exposure to cyber risk.

The results of the Willis Towers Watson Construction Risk Index showed that risks related to digitalization and new technologies are top of mind among global construction executives, with four of the top 10 risks falling into this category.

The increased risk of cyberattacks and data privacy breaches ranked particularly high as a strategic concern highlighting that cyber loss prevention and mitigation has become mission-critical for construction companies.

Given that cyber risk can never be fully avoided and that a claim or loss stemming from a cyber event can result in significant financial damage, contingent bodily injury or physical damage, and long term reputational harm, it is more important than ever for the construction industry to have a risk transfer strategy in place.

Our cyber proposition unique to the construction industry

In response to this dynamic risk environment, the CyCon product (currently only available in the U.S.) exceeds off-the-shelf cyber coverage to address the key concerns of a construction client.

Chart of CyCon offerings

Why Willis Towers Watson?

More than half of all cyber incidents begin with employees, so it’s a people problem. And the average breach costs $4 million, so it’s a capital problem too. We believe no one decodes this complexity better than Willis Towers Watson. As a global leader in human capital solutions, risk advisory and broking, we are well-prepared to assess your cyber vulnerabilities, protect you through best-in-class solutions and radically improve your ability to successfully recover from future attacks.

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For further information, contact:

Bill Creedon
Construction Industry Leader, North America
T: +1 303 803 9125

Heather Wilkinson
FINEX Regional Cyber/E&O Manager
T: +1 714 840 3454

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