OTA Survey – Cyber Insurance Requirements

In an increasingly digital ecosystem, connected industries like the transportation sector are becoming a target for cybercriminals and fleets need to be prepared for it.

OTA is seeking input from members regarding requirements for cyber Insurance to protect their IT (information technology) and OT (operations technology) infrastructure. This rapidly evolving issue is something carriers may already be dealing with, and OTA is attempting to raise awareness on the subject and promote a better understanding of the necessity for this type of insurance and the potential impact on the industry.

To assist in this information gathering exercise OTA members are encouraged to complete a short survey by clicking here . All individual names, companies and responses will be kept strictly confidential.  An anonymized, high-level summary of the survey results will be provided to respondents in the future.

Cybercrimes have reached a torrid pace since the COVID-19 pandemic changed the office work landscape, according to reports. The FBI reported a 300% increase in cybercrimes between March and May 2020, with the transportation industry viewed as a high-value target,

In testimony before the U.S. House Subcommittee on Cybersecurity in May, Christopher Krebs, former director of the federal Cybersecurity and Infrastructure Security Agency, said what was “considered a low-dollar, online nuisance crime only a few short years ago,” cyber infiltration of companies and ransomware has exploded into a “multibillion-dollar global racket that threatens the delivery of the very services so critical to helping us collectively get through the COVID pandemic” and beyond.

 

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