One Of Insurance Industry’s Biggest Underwriting Challenges: IoT

One of the insurance industry biggest challenges on the underwriting side is “how to effectively and profitably transfer cyber risk with respect to machine-to-machine technology,” so-called Internet of Things, Brian Rosenbaum, national director of the Legal and Research Practice at Aon Risk Solutions, said Tuesday during an industry event. “I really can’t overestimate how significant the risks associated with machine-to-machine technology are, despite the tremendous benefits that the Internet of Things will confer,” Rosenbaum told those assembled for the 49th Annual Canadian Insurance Claims Managers Association/Canadian Independent Adjusters’ Association Ontario Chapter Joint Conference in downtown Toronto.