Notes

Write a note in this area. It's really easy to share with others. Click here ...[15/11, 2:24 PM] Harman Scm Cbu: A manufacturing business should disclose all the information related to the product which is being manufactured and the process which is being used. Also, the business needs to disclose all the changes, amendments made in process and business activities to insurance company from time to time preferably in writing.
[15/11, 2:25 PM] Harman Scm Cbu: The potential costs of this hacking incident include the compensation to customers if their data is compromised, damaged to reputation of business and loss of future sales. Ashley Madison, if they have specialized cyber risk insurance policy can cover the cost of loss of data. Also, it can compensate for the customers whose data has been breached.
[15/11, 2:26 PM] Harman Scm Cbu: Insurance Coverage that responds to Athena's loss include property insurance and business interruption insurance. If Athena is not covered to fill extend of her losses then she will have to absorb them or if someone is found responsible for the losses then she can sue that person and recover damages. Athena in addition to property insurance should have business interruption insurance so that loss of profits can be recovered until the time her business is restored. It will be good to develop a relationship with broker who has knowledge of insurance business.
[15/11, 2:26 PM] Harman Scm Cbu: Subrogated action is the right of the insurer to recover the amount which is paid to the insured for the claim from the third party due to which loss occurred. Insurer has right to sue the third party and recover losses UPS in its defense can say that malfunction occurred due to the fault temperature control system supplied by the supplies and it might have been installed in an improper way.