Is there a holly jolly smart device under the tree this Christmas?

By December 13, 2018 News

“Things” are getting smarter.

The Internet of Things (IoT) could be the next major technological revolution. Like the spread of the internet itself, or the proliferation of mobile devices, the IoT could radically reshape nearly every facet of our lives.

In addition to “wearables” like smart watches or fitness trackers, things like house- hold appliances and vehicles are more commonly starting to gather data and communicate with users and other devices. In fact, you may be unwrapping a smart device this Christmas.  The number of devices in the IoT is expected to explode over the next several years, reaching 50 billion by 2020.

It probably goes without saying, but your new IoT Christmas gift can represent another potential point of access for criminals. In addition to the sheer number of connections available to hackers, the interconnectedness of devices poses a new kind of threat. Accessing a single device could, in theory, give a criminal access to a person’s home, car, phone, work and many other smart systems.

As your insurance agent and risk advisor, we’re keeping up with products and services that are designed to protect all your “things” even the smart ones.

Recently our CEO, Jonathan Theders, became an Accredited Cyber Risk Advisor (ACRA).

You can count on us to help navigate this swiftly growing market and the possible exposures that are coming with it.

*Adapted from Broker InSights