The Institutes

Smart Homes Could Increase Risks Of Ransomware, Data Loss

 Friday, October 14, 2016

 Insurance Business

Carriers are offering high tech bargains to policy holders—using internet connected devices, such as thermostats, doorbells, and moisture sensors—in exchange for discounts on home policies, according to reports. Offers like these from insurers such as USAA, American Family and Liberty Mutual could propel the adoption of smart devices forward, and improve risk mitigation and management in the home, but analysts say these benefits could come at a steep price as data from these homes could be exposed to risks such as data loss and ransomware.
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