Logisticians prepare for cyber attacks

Two thirds of the respondents have taken concrete actions against web-based attacks.

The topic of cybercrime is creating ever greater challenges for the logistics industry. In the survey conducted in the first quarter of 2023 as part of the Logistics Hall of Fame Trend Survey series in cooperation with the SCHUNCK GROUP, 70 percent of respondents stated that attacks from the Internet are currently among the greatest risks in logistics worldwide. The continuing shortage of skilled workers (70 percent) continues to be considered a similarly large risk. The following ranks are taken by possible supply chain disruptions (30 percent), political risks (27.5 percent) and climate change (17.5 percent). Survey participants were asked to select up to three risks from a list of 16 that are most concerning to the industry at the moment.

On a scale of 1 to 10, participants rated the direct risk to their own company of suffering financial damage from a cyber incident with an average score of 5.98, with nearly half of respondents rating the risk as high or even very high.
In addition, 87 percent of respondents felt that the risk of becoming a victim of a cyber attack cannot be completely eliminated even by investing in information security. 43.2 percent, by far the largest group, have already signed up for cyber insurance, while 32.4 percent of respondents still bear the existing risk entirely themselves. The remaining 24.2 percent said they had taken other measures, such as employing an IT service provider, drawing up an IT contingency plan with the full integration of all employees and regular backups.

"The results of the survey show how much logistics is now threatened by cybercriminals," sums up Thomas Wicke, Managing Director of the SCHUNCK GROUP. "Everyone knows how important security is and the Germans are world champions when it comes to security," he continues. "However, when it comes to cybercrime, a certain recklessness still reigns and one feels taken back to the early years of the Internet. Cybercrime, or rather insurance against it, absolutely belongs on the agenda of all executives. Those who remain inactive here are putting their livelihood at risk," he appeals to the industry.

The survey, which involves an executive C-level panel of selected managing directors, board members and entrepreneurs from the Logistics Hall of Fame network and the SCHUNCK Group, is conducted quarterly on changing topics. The survey shows the current mood in the logistics industry and is not representative of the industry as a whole.

Background: The Logistics Hall of Fame was founded in 2003 and honours leading figures who have made outstanding efforts to promote the further development of logistics and supply chain management. This eternal pantheon is also designed to remind future generations of the achievements of these individuals in the service of logistics. The aim of the Logistics Hall of Fame is to act as a worldwide platform to publicise the performance capability of logistics and its importance for society. The Logistics Hall of Fame is a non-profit initiative supported by the world of politics, associations, the logistics industry and logistics science. The patron is Dr. Volker Wissing, German Federal Minister for Digital and Transport.

About SCHUNCK

The SCHUNCK GROUP (www.schunck.de) is the leading insurance broker and service provider in the logistics industry. The group convinces with competence and long-standing expertise as well as innovative products and IT solutions. The focus is on consulting and brokering customized insurance solutions for individual risks for medium-sized companies. The insurance portfolio ranges from transport liability and goods transport to business, environmental and product liability, provision management, bad debt and factoring as well as cyber insurance.

SCHUNCK was founded in 1919 and is part of the Ecclesia Group. With more than 2,400 employees, the Ecclesia Group is the largest German insurance broker for companies and institutions. Headquartered in Munich, SCHUNCK also has nine branch offices in Germany, a subsidiary in Spain and a global network of over 590 brokers worldwide.

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