Information Technology Reference
In-Depth Information
table 5.6
e-insurance Coerage options (Continued)
Coverage
Description
Identity theft
Provides access to an identity theft call center in the
event of stolen customer or employee personal
information. Depending on the policy, coverage can
apply to both internally and externally launched attacks
as well as viruses that are specifically targeted against
the insured or widely distributed across the Internet.
Premiums can range from a few thousand dollars for
base coverage for small businesses (less than $10
million in revenue) to several hundred thousand dollars
for major corporations desiring comprehensive
coverage.
Intellectual property
development costs
Pays the actual cost incurred to restore electronic data or
software that has been destroyed or damaged by a loss
event
are hypothetical, the options are sound considerations. The bottom line is to use
E-insurance as a part of the organizational risk management program, not as an
apparent quick fix.
E-insurance plays a role in organization risk management. Appendix K elabo-
rates on the E-insurance concept.
5.5
Management and iA
Managers and executives are constantly challenged to juggle often-conflicting
requirements (Figure 5.7) for cost management, revenue generation, profitability,
legal requirements, and personal and corporate ethics. All must be balanced to
optimize shareholder value, and now the risk of personal liability and the ever-
growing uncertainties of a highly competitive world market add to the difficulty
of keeping many objects in the air successfully. And in the midst of all this there
enters additional uncertainty and risk.
Manager liabilities reside under:
n
n
Law
Legally defined liabilities with sanctions including fines and jail time
Economics
Due diligence and due care to stakeholders, e.g., shareholders; failure of
such obligation may result in personal suits over negligence or fraud.
Attaining financial objectives
 
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