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CNA’s Dieter Korte and Nick Graf Featured in Business Insurance

In an article published in Business Insurance, CNA’s Dieter Korte, Senior Vice President of Customer Segments, and Nick Graf, Consulting Director of Information Security, write that advancements in digitization and connectivity have increased risk exposures.

Manufacturers of all kinds are using new processes, parts and professional skills — each of which is creating new sets of risk. With digitization, machines are more connected than ever before, while producing and storing more data.

In an article published in Business Insurance, CNA's Dieter Korte, Senior Vice President of Customer Segments, and Nick Graf, Consulting Director of Information Security, write that cyber risks have emerged as a big exposure, particularly with small- and mid-sized manufacturers.

"Increased connectivity in the manufacturing industry means that even inadvertent actions can damage equipment and disrupt production," they write, while sourcing a CNA claim example in which a fire damaged an insured's facility. This fire occurred after a servicing technician remotely instructed a machine to open a valve — which should have remained closed. The resulting property damage may not have occurred if the technician had been on-site and able to physically inspect the system.

As risks emerge and evolve in the manufacturing industry, exposures and losses become more complex. For more information on manufacturing loss drivers, read the article "Manufacturing 4.0: Emerging Risks, New Frontiers for Coverage," published in Business Insurance.

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