If you’re like many tech-business owners, you celebrate the new year by turning to industry analysts for insight about the new trends likely to shape your business in the coming months. But have you stopped to consider what insurance risks might accompany those trends?
Probably not. Don’t worry, though – that’s our job. Here’s what you need to know to protect your business as you ring in 2013 by adopting the latest and greatest technology.
More Mobile = More Vulnerable Information
Smart phones and tablets went mainstream in 2012; in 2013, insiders are predicting we’ll be accessing the Internet via even more mobile devices. (This article from Forbes even hints that wearable computers, including on bracelets and watches, might be the new route to staying connected.)
All this access gives you hundreds of opportunities to conduct business and connect with your clients, but it also provides dozens of new access points to your sensitive information.
The Solution: To avoid the expense of unwanted data breaches, ensure that your employees and clients are aware of the risks they face and know how to protect themselves online, regardless of which device they’re using. If you haven’t updated your cyber liability insurance policy in a while, now is a good time to ask with your agent whether you’re covered for the risks you face today.
Cloud Dependency = Essential Cyber Liability Insurance
Adopting cloud-based services can seriously streamline your business. But if you’re switching from in-house or software-based solutions to cloud-based solutions, you need to make sure you have a backup system in place that can handle cloud-based risks.
The Solution: Luckily, your existing cyber liability insurance likely covers the risks cloud computing brings to your business. If you don’t have a cyber liability policy in place, though, and you’re thinking of moving more operations to the cloud, now is the time to pony up for a policy.
Tablets Galore = General Liability Policy Updates
In 2013, analysts expect the cost of tablets to come down, which means that even more people will be using them for everyday transactions. If you plan to increase your employees’ accessibility and productivity by providing tablets or other mobile devices, make sure you’re protected in case of loss, damage, or theft.
The Solution: As you upgrade your team’s technology, make sure you consult with an insurance agent about your general liability and property policy, which covers physical assets your company holds. Your policy may not need any changes, but if it does, it’s best to make them ASAP so you’re covered and ready to get back to work if anything goes wrong.
Are Your Tech Updates Covered This Year?
Have questions about whether your latest technology updates will be covered by your existing policy? Post them below or call one of our agents at 800-668-7020, and we’ll give you an answer that puts your mind at ease.
Writtten by Brenna Lemieux - check her out at Google+ or Twitter