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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.

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Denny Jacob

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

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