Companies that deploy or use IoT devices may be subject to cyber risks as well, such as data breaches and extortion. Companies that deploy or use IoT devices may be subject to cyber risks as well, such as data breaches and extortion. (Photo: Shutterstock)

The power of the internet is felt all around the globe. Through a number of devices, we are more connected than ever — to both the positive and negative aspects of technology's reach.

According to an Oliver Wyman report, between 50 billion and 100 billion devices are expected to be connected to the internet by 2020. Internet of Things (IoT) products are physical devices or objects that can connect to the internet in a number of ways. Everything from your cellphone to your refrigerator can be connected, and with it comes valuable data.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].

Agency Management
Agency Technology
Commercial Lines
Commercial Lines
Corporate Risk
Coverage & Policy Issues
Cybersecurity
E&S/Specialty
E&S/Specialty Lines
Emerging Risk
Loss Control
Personal Lines
Personal Lines
Public Sector Risk
Reinsurance