Product Family

It’s not often you can open quoting John Lennon, but I can’t resist…So this is Christmas! And yes, I am sure we have all already had some fun celebrating with colleagues, friends and family.  During the festive season many of us will, no doubt, gain a few pounds, but we are statistically likely to lose something too - our mobile phones.

A global study of 15 million users compiled by mobile security firm Lookout revealed that in 2011, phone losses around the world spiked on Christmas and New Year's Eve. In fact, every 3.5 seconds, someone in America loses a mobile phone. In 2011 a staggering $30 billion worth of devices were lost.

The study showed that people in Manchester, England, have the highest likelihood of losing their phone out of any other population in the world. So it seems Manchester is THE party city in the UK! It also showed that phones are more often lost at night; two-thirds between the hours of 9 p.m. and 2 a.m. local time.

If you have a company phone, losing it can pose a real security threat. According to technology specialist Cisco, as the capability of devices have increased so has the risk for business. For example, an iphone can hold some 1.2 million Microsoft Word documents or 144 million emails. A company’s intellectual property, namely confidential financial information, expansion plans, products in development, is now more vulnerable than ever.

I am advised by Lisa Hansford-Smith, our cyber underwriter here at XL Group, that given the serious consequences of sensitive and confidential data being lost, employees need to be aware of their responsibilities with regard to mobile devices. She says “data loss can be as serious as a hack and security breaches are not just a problem for the IT department.”  And she is right. We all need to understand what data is on our devices, is it business critical or confidential? Both employers and staff need to be pretty clear on the guidelines with regard to the use of such devices.

So while it is the season for giving, it’s also a time to hold onto your devices and data!  But should, as statistics would indicate, you lose your device over Christmas and New Year, it may be timely now to recap on the procedures for reporting this to your employer.

Wishing you a happy, and secure, Christmas.

First published in Post on December 16


More Articles

Global Asset Protection Services, LLC, and its affiliates (“AXA XL Risk Consulting”) provides risk assessment reports and other loss prevention services, as requested. This document shall not be construed as indicating the existence or availability under any policy of coverage for any particular type of loss or damage. AXA XL Risk. We specifically disclaim any warranty or representation that compliance with any advice or recommendation in any publication will make a facility or operation safe or healthful, or put it in compliance with any standard, code, law, rule or regulation. Save where expressly agreed in writing, AXA XL Risk Consulting and its related and affiliated companies disclaim all liability for loss or damage suffered by any party arising out of or in connection with this publication, including indirect or consequential loss or damage, howsoever arising. Any party who chooses to rely in any way on the contents of this document does so at their own risk.

US- and Canada-Issued Insurance Policies

In the US, the AXA XL insurance companies are: AXA Insurance Company, Catlin Insurance Company, Inc., Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company and T.H.E. Insurance Company. In Canada, coverages are underwritten by XL Specialty Insurance Company - Canadian Branch and AXA Insurance Company - Canadian branch. Coverages may also be underwritten by Lloyd’s Syndicate #2003. Coverages underwritten by Lloyd’s Syndicate #2003 are placed on behalf of the member of Syndicate #2003 by Catlin Canada Inc. Lloyd’s ratings are independent of AXA XL.
US domiciled insurance policies can be written by the following AXA XL surplus lines insurers: XL Catlin Insurance Company UK Limited, Syndicates managed by Catlin Underwriting Agencies Limited and Indian Harbor Insurance Company. Enquires from US residents should be directed to a local insurance agent or broker permitted to write business in the relevant state.