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According to the latest statistics, the average cost of a cybersecurity incident is now approaching $200,000, and yet, only 31% of small companies have cyber insurance, and 70% said that they have no intention to purchase a policy.

Whether your organization is taking its first steps to prioritize cybersecurity, renewing efforts to protect itself from cybercrime, or performing a health check on existing security measures, AIAG has the next-step resources you need.

AIAG’s Director of Supply Chain Products & Services Tanya Bolden will be a featured speaker at the first-ever, co-branded cybersecurity event with GAMA, the Georgia Automotive Manufacturers Association. Scheduled for February 5, 2020, the conference will be held at the Douglasville Conference Center in Douglasville, Georgia.

In partnership with NQC, a global leader in cyberthreat detection, AIAG has launched a new Supply Safe™: Cyber Initiative in support of industry efforts to protect shared data throughout the supply chain.

AIAG, in partnership with NQC – a global leader in cyberthreat detection – today announced the launch of a suite of cybersecurity tools to help automotive suppliers compare their current cybersecurity capabilities to industry best practices. The Supply Safe™: Cyber Safe Bundle includes a one-time third party virtual audit, along with either a basic or advanced enterprise risk assessment. Together, these resources allow suppliers to evaluate their overall cybersecurity efforts and identify the most critical areas for improvement.

When it comes to small businesses and cybersecurity, the latest statistics are alarming: 43% of cybersecurity attacks target small businesses specifically, but only 14% of smaller organizations consider themselves “highly effective” at defending against such attacks.

The automotive supply chain is long and complex. A break in the chain at a small, tier 3, single-part producer can be disastrous.

In today’s increasingly technology driven and connected world, protecting data is more challenging – and more critical – than ever before. In fact, according to the World Economic Forum (WEF), a significant portion of cybercrime goes undetected, which only underscores the difficulty of securing sensitive information.

In today’s increasingly technology driven and connected world, protecting data is more challenging – and more critical – than ever before. Given the growing complexity of global supply chains, and the sheer volume of highly sensitive information being exchanged, the need for a standardized approach in addressing information security is also more vital than ever before. 

The importance of thorough cybersecurity procedures and practices grows every day as the risk from cyber attacks grows. Bill Hurles, former executive director of supply chain for General Motors, said he hoped that attendees in the discussion of cybersecurity he moderated would come away with a strong drive to help protect their organizations and the industry as a whole. “I hope they take this awareness around cybersecurity and personalize it. They should take actions to protect the information they receive and that they send to others,” he said. “Doing so can reduce the vulnerabilities that they and their company are exposed to. They can continue to educate themselves and help their peers understand that this is a real threat and that we need to work together to protect ourselves.”