Evolving technology creates new risks that technology businesses might not see. Our Risk Advisor Series on emerging risk for technology businesses helps our technology clients stay ahead of these risks by offering informational materials that explore emerging risks and legal trends, including Risk Advisor briefings and educational videos and papers.
With the growth in wearable technology across all types of industries, companies that never before considered themselves in the technology business face new risks they need to be prepared for. Being aware of these threats and following strategies to help protect against them can help businesses focus on the growth opportunities that connected technologies make possible.
Download our latest Risk Advisor issue, "The Wearables Revolution has Arrived."
How technology companies can manage the risks of wearables to reap the rewards
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The ubiquity of personal devices is changing the way the corporate world operates. Businesses once built strong firewalls to block external access, banned employees from backing up their work on portable hard drives, and allowed connectivity only through company-issued devices. Today, eager to hold down costs and happy to take advantage of well-connected employees, some of these same businesses are adapting their policies to embrace Bring Your Own Device (BYOD). But many more are simply standing by as employees incorporate BYOD into their work lives, without waiting for permission or policies.
Download our Risk Advisor brief, "Bring your own device (BYOD): Everyone is doing it."
Download this six-page briefing paper and you will learn:
Cybercrime is a threat that is expanding rapidly as more and more business activity goes digital. Data breaches have become so common that few make headlines except when they involve millions of people or afflict renowned companies. Ignoring cyber threats can result in lost revenue, costly loss mitigation and potential liability.
Download our Risk Advisor brief, "Cyber threat reality check -The threat is growing - ignoring it can be costly."
In an age when a negative post can go viral and reach millions of people in ever faster time, reputation management is moving to the forefront of corporate concerns. Yet the issue of protecting one's image pre-dates the technology era by centuries. Consider the advice of Socrates more than 2,400 years ago: "Regard your good name as the richest jewel you can possibly be possessed of…."
A troubling increase in counterfeit components means many industries are at risk for delivering imperfect products or faulty services. Whether it's a medical device firm counting on sophisticated components to safeguard a patient's health, a manufacturer delivering finished products to eager customers, or a transit system ordering an automated safety system, no business can afford the damage and liability that can be caused by undetected counterfeit parts. Unfortunately, distinguishing real parts from fake ones is not always easy.
Farming out the technology processes that are so vital to business today is becoming increasingly popular. Cloud computing, the stuff of futuristic dreams when it was first written about in the 1960s, is now in use by more than one out of four businesses, according to one 2011 survey. However, this cloud computing future may come with a significant downside. Once a company places data in the hands of others, risks mount. Cloud computing risks range from lack of access and data corruption to security breaches and legal liability.
More U.S. companies than ever before are reaching overseas to find raw materials and components that they can import and incorporate into their products. While beneficial, this also opens the door to potential risks and liabilities. "Importing Quality Using Best Practices to Control Overseas Supply Chains" is useful to companies as they manage risks from importing.
Everyone in business has heard of intellectual property. But many companies do not know exactly what intellectual property (IP) they own, or perhaps do not own, while others are uncertain how to protect and maximize these valuable assets.
The quantity of electronic waste that companies produce is staggering! Improper disposal can open the door to unexpected liability. "From E-Waste to E-Cycling" can help companies craft a game plan to manage e-waste and work toward e-cycling.
Social media use is widespread and growing within many businesses whether they know it or not. Engaging in social media can strengthen a company's marketing success, but it can also open the door to unexpected liability for businesses. "Social Media and Your Business Managing Liability in an Online World," is useful to companies as they craft their plan to manage social media usage business risks.
This material does not amend, or otherwise affect, the provisions or coverages of any insurance policy or bond issued by Travelers. It is not a representation that coverage does or does not exist for any particular claim or loss under any such policy or bond. Coverage depends on the facts and circumstances involved in the claim or loss, all applicable policy or bond provisions, and any applicable law. Availability of coverage referenced can depend on underwriting qualifications and state regulations.