One of the biggest obstacles for business owners in preventing cyber risk liability, data breach, and other privacy claims is BYOD (Bring Your Own Device). The concept of BYOD is causing confusion and anxiety for many business owners. What exactly is BYOD, what cyber risks does it create, and how can your business mitigate these risks?
Kevin Bacon had his stolen in New York, British Major General Gerry Berragan had his pick-pocketed on a train in China, President Obama may still have his hacked, and at any point in time thousands of smartphone owners could be running information-leaking viruses without knowing it.
Aon recently released a report that outlined the top three risks identified by the retail industry. The report found that these top three risks were also in the list of top ten risks that the retail industry was the least prepared to face.
These risks are of concern to the retail industry because of three characteristics; their complexity, their difficulty to control, and their enterprise-wise effect and scope.
What Are the Top Three Risks in Retail?
Many insurance adjusters and third party administrators (TPAs) provide claims systems as part of their services. While this is undoubtedly convenient, you may be leaving a lot on the table in terms of flexibility, independence, and data ownership. This post outlines some reasons why your organizations should consider seeking out an external claims system as opposed to relying solely on your adjuster’s or TPA’s built-in system.
Time will tell if the Gulf of Mexico oil spill will kill BP or just severely cripple it, but whatever the case I’ll bet they didn’t see it coming! Will you?
It looks like this spill will be (if it isn’t already) the biggest man-made disaster ever. The extent of the spill, the scope of damage and the resulting impacts on the environment, marine life, economies, and people remains to be seen, but catastrophic sums it up.
BP and all of the other world’s oil companies plan for spills. They build complex risk models, examine alternative worst case scenarios, look at maximum probable losses, and they are generally very good at measuring and managing risk.
But what if the worst case scenario that you imagined turns out to be wrong?
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