IUA Circular 022/21

Developing Technologies Blog
IoT at the Centre of Insurers’ Universe

Date: 25 February 2021

Interest Groups: IUA member contacts, underwriting and claims interests, developing technology interests  

Subject: The fourth blog in a series published by DTMG examining the use and insurability of new and emerging technologies

Downloads accompanying this circular: 
Developing Technology Blog Post: the Internet of Things

IUA Contact: Jonathan Reed, Market Services Technician, tel. 020 7617 5446

The IUA’s Developing Technology Group (DTMG) has published the latest entry in its series of blogs, with this latest issue focussing on developments relating to the Internet of Things (IoT), including the relevance IoT has to insurance and why insurers are so keen to understand the implications of the rapid integration of IoT across modern society. The blog acknowledges that assessing the systemic exposures that IoT presents to businesses and policyholders will be essential to developing insurers understanding and goes onto examine key steps that policyholders can take to mitigate the cyber risks associated with IoT, the importance of which has been highlighted by the significant growth in malicious cyber activity in 2020.