b'THE OFFICIAL NFBA MAGAZINEHARD HATS AND HACKERS:THE GROWING CYBER THREATS IN CONSTRUCTIONBUSINESS MANAGEMENTGreg ChambersUnderwriting Manager, Cyber & T he construction industry, long associatedTechnology, AXA XLwith hard hats, blueprints, and heavyHowever, as construction machinery, is undergoing a digitalcompanies become more digitally transformation. Like many other industries,connected, they also become construction companies are becomingmore vulnerable to cyberattacks. increasingly reliant on technology to streamlineThe integration of technology operations, improve efficiency, and maintainwith physical operationscompetitiveness. This digital shift, however,such as automated machinery or IoT-enabled comes with an array of cyber risks that, if notconstruction sitescreates new attack surfaces addressed, could have devastating consequencesfor hackers to exploit.for construction firms. Common Cyber Threats in ConstructionThe Digital Evolution of Construction While cyber risks in the construction industry In recent years, the construction industry hasmirror those faced by other sectors, certain embraced digital solutions at an accelerating pace.threats can be particularly pronounced due to the Building Information Modeling (BIM), cloud- nature of the industry. Here are some of the most based project management platforms, drones, IoTcommon cyber risks construction companies (Internet of Things) sensors, and other advancedface:technologies are becoming integral to howRansomware Attacks: In the construction construction companies operate. These tools offerindustry, a ransomware attack can halt operations tremendous benefits: they enhance collaboration,entirely, leading to project delays and significant reduce project delays, and optimize resourcefinancial losses. Construction companies rely on management. access to digital project management systems, 8 / FRAME BUILDER - VOL6 5'