Network risk exposures are broad and touch most every business. The internet and related technologies have changed how we conduct business. We now have the ability to store and share data across interconnected networks. This creates efficiencies in all parts of an organization, including sales, marketing, data management and vendor relations.
The benefit of using internet-based technologies is broad, but they increase risks for most firms. Specific risks include:
- Theft of private data
- Theft of sensitive data, including health and financial information
- Manipulation of information
- Computer viruses
- Damage to hardware
- Damage to operations
- Fraud
Most corporate insurance policies exclude exposures from the internet or network. If your organization has most of it’s’ exposures in these areas you will need to explore insurance and risk management programs that are designed to cover those liabilities.
More than ever, staying fully informed and up-to-date with the latest industry trends is the best way to remain competitive and relevant in a changing market. A TechAssure member can help you identify the best program for your network risk exposures.
