Digital Risk

Actuaries and risk assessment professionals try to tackle every possible “what if” scenario—including what the costs are of a catastrophe related to GPS, GIS systems. But this can become a bit like playing craps in Vegas --- even against the science, it’s almost impossible to even establish odds. For insurers, this means commercial lines policies must take into consideration the potential results of the worst possible scenario in any given application. Whether cybercrime or human error, when GIS/GPS systems are down, it has the potential to affect the banking and financial industries, ATM networks, telecommunications, emergency response, electric utilities, cloud computing, air and vehicle transportation, media broadcasting and even the military. Business interruption is the least of it.