Insurers and other organizations need to develop systems to protect the authenticity of electronic documents, or risk losing valuable evidence that could support a legal case, said a risk expert from Kroll.
His comments came during a panel discussion on risk titled "New Reality of Risk," broadcast over the Web and sponsored by Marsh & McLennan Companies.
Alan Brill, a member of Kroll, a subsidiary of MMC, discussed electronic risk. He noted that despite the investment in electronic security, the average loss per security breach incident is greater than $200,000. For financial institutions and insurers, the two major incidents concerning them are loss of proprietary information and unauthorized access to networks.
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