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The Risks of Wearable Technology

The Risks of Wearable TechnologyIn our last post, we discussed some of the ways in which wearable technology can be used to minimize workplace incidents and improve efficiency. However, with the advent of so much new technology inevitably comes more risk. From cyber breaches to threats of espionage, this wearable technology poses more threats than originally anticipated. As we explore how your business can manage these novel exposures, ensure your operation is backed by a comprehensive Workers’ Compensation Insurance program.

First, corporate espionage is a serious concern, as employees may soon be wearing watches, glasses, bracelets and other kinds of technology that can record private conversations, take photos, or share information online. Some of these capabilities currently exist with smartphones and other mobile technologies, but wearables can be even more easily concealed and allow bad actors to pass under the radar, explains Risk Management Magazine.

Next, the threat of cyber security and hacking is a huge concern. Unsuspecting employees can have their devices hacked and confidential information can be compromised without their knowledge. Another risk is using devices that plug into a computer or laptop via a USB device. This could introduce malware to the computer and they run the risk of confidential information being hacked and downloaded.

While these specific risks are real threats to users of wearable technology, they have proven to be successful in mitigating liability for many industries. For example, wearables are being put to use in fields where people may not typically have easy access to computers and do not always have their hands free, or where they may have to wear gloves or work in sanitized places, such as hospitals. Google Glass is being used by doctors to access patients’ electronic healthcare records, for example, while field service workers in the energy industry have begun using the device to assemble complex tools.

While the evolution of technology is inevitable, it doesn’t mean your company has to be exposed to risks, even novel ones. With the right workers’ compensation insurance, your operation and your employees will have the protection they need. In addition, consult with your trusted agent to find out how to protect against the above-mentioned exposures that wearable technology presents.

About ASIA

Associated Specialty Insurance Agency, Inc. has been “The Workers’ Compensation Specialist for Brokers and Agents” for the past two decades and is committed to providing brokers and insurance agents across the East Coast with expertise and services to develop a Workers’ Compensation policy. For more information about how we can assist you with claims management, anti-fraud measures, and more, call 610-543-5510 to speak with one of our professionals.

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