Wearable Tech Could Cause Cyber Liability

Wearable Tech Could Cause Cyber Liability

Innovation is the name of the game when it comes to wearable technology, and within the next decade, it is entirely possible that these increasingly common items–such as fitness bands, digital glasses, smart watches, medical devices, GPS-enabled cameras, and so on–could change the way you function on a daily basis even more than your trusty smart phone has. (And just think for a moment how ubiquitous such phones have become–they seem to be practically glued to people’s hands.) This new tech can definitely make life easier, but at the same time could also compromise the privacy and security of anyone who uses it, creating situations where a cyber insurance claim could come into play.

Wearable technology puts together in one little gizmo all of the collection, tracking, and communication capability that today’s mobile devices have, resulting in an astounding amount of personal information that is captured and transmitted in real time. Consider what some of these devices can do:

Fitness bands–These units can help you track your way to fitness by taking note of everything from your heart rate to the number of steps you take in a day and other exercise-related matters; your sleep patterns; and how many calories you’ve consumed. However, this sensitive information, if compromised, could be sold to interested parties.

Medical devices–While these units can save lives, criminals have discovered how to hack some of the devices, enabling them to be controlled remotely–in some cases, causing lethal doses of insulin (via insulin pumps) and voltage (via pacemakers) to be delivered to the wearer without his or her knowledge.

GPS-enabled cameras–recording family occasions or providing security and surveillance are the positive uses of these items, but they also offer an easy means to invade others’ privacy when people are recorded without their knowledge or consent.

Talk to a professional insurance agent who has expertise with the technology sector and can offer guidance in a cyber liability insurance program designed to offer protection from the risks your business faces. Your agent can also help you with a risk mitigation plan to help ensure the devices you and your employees have come to rely on are used properly to enhance rather than endanger your health and well being. Consult a knowledgeable agent today.