Microelectronics: Small Tech, Big Risk for Businesses and Insurers
As technology gets smaller, the risks of an equipment breakdown get bigger.
The micro-circuitry in today’s electronics, which is thousands of times smaller than a human hair, makes it difficult or impossible to see the damage when equipment fails.
Because equipment is increasingly interconnected through the Internet, a breakdown can affect operations at multiple locations and result in a costly business interruption.
And technology changes so fast that damaged equipment quickly becomes obsolete, which often requires a replacement instead of repair when components are no longer available.
Read more at http://www.cyberrisknetwork.com/2015/09/01/microelectronics-small-tech-big-risk-for-businesses-and-insurers/
Saulsbury, Marc. ‘Microelectronics: small tech, big risk for businesses and insurers’. ©2015 Cyber Risk Network. 08 September 2015.