Where New Technology Could Place Your Business at Risk
While new technology is expected to solve a number of our problems–from reducing human error to growing the global economy–it is also expected to have a significant effect on corporate liability, commercial litigation, insurance litigation, and product liability claims. As the industry grows in complex technology, companies and insurers need to make sure that they consult the right attorneys so that they ensure that their claims processing is up-to-date because, as cyber risk liabilities increase, so too does liability for manufacturers, suppliers and providers. The General Risk of Increasing Digitalization Take, for example, liabilities surrounding cyber security and the increasing digitalization of society: liability and litigation is becoming more and more complex and technical, especially as data protection rules become stricter and carry stiffer penalties in response to governments trying to bolster cyber security and protect privacy. An accident no longer involves just two people, but manufacturers, software providers, and other third parties, all requiring that insurance claims handlers and other experts understand specific algorithms involved in order to determine the cause of accidents. Let’s take a look at another emerging technology and how it could become a major driver of liability and insurance claims in the years to come: 3D printing. This technology is expected to completely change manufacturing, growing from a market estimated at around $9 billion today to a potential global value of $640 billion. While it has the potential to make businesses significantly operationally faster, more widespread use of the technology also introduces new complexity into the supply chain. Internet sales platforms, product designers, and software providers all bring their own particular liability into the equation, which raises new issues and questions as to what happens in the event of a product defect. When it comes to 3D printing, examples of new potential liabilities and third party questions include: Whether the 3D design itself, and the designer (if the design can be considered a “product” covered under the law); Who has a duty to warn about any potential unsafe products? Does this include operators of internet sales platforms? Is the software itself considered a “product” within the confines of the law? If so, are software manufacturers properly covered for product liability? What about personalized products? How do they figure into product testing and protection against product defects/liability? Do Not Leave Yourself Vulnerable: Contact Our Florida Corporate Liability Attorneys It becomes clear that any companies that deal with these types of technologies need to constantly test their own risk management processes in order to ensure that they are up-to-date and covered. The introduction of any new update could leave a company, manufacturer, or even insurer completely vulnerable to a slew of new litigation. If you are concerned about the potential repercussions of new technology in the field of business or insurance, contact our Tampa business attorneys at HD Law Partners today. We practice in a number of these areas—including business law, business insurance law, corporate law, insurance defense, and product liability, and we are here to help. Resource: https://insurancejournal.com/news/national/2018/10/19/504988.htm Tags: Tampa Business Attorney, Tampa Business Attorneys, Tampa Business Lawyer, Tampa Business Lawyers Posted in Business Corporate, Business Insurance Law | No Comments » Connect with us Archives May 2026 April 2026 March 2026 February 2026 January 2026 December 2025 November 2025 October 2025 September 2025 July 2025 June 2025 January 2025 January 2024 December 2023 November 2023 October 2023 September 2023 August 2023 July 2023 June 2023 May 2023 April 2023 March 2023 February 2023 January 2023 December 2022 November 2022 October 2022 September 2022 August 2022 July 2022 May 2022 April 2022 March 2022 November 2021 October 2021 September 2021 August 2021 July 2021 May 2021 April 2021 March 2021 February 2021 January 2021 December 2020 November 2020 October 2020 August 2020 July 2020 June 2020 May 2020 April 2020 March 2020 February 2020 January 2020 December 2019 November 2019 October 2019 September 2019 August 2019 July 2019 June 2019 May 2019 April 2019 March 2019 February 2019 January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017 July 2017 June 2017 May 2017 April 2017 March 2017 February 2017 January 2017 December 2016 November 2016 October 2016 November 13 Categories Alimony Appellate Arbitration Auto Accidents Auto Insurance Business Corporate Business Insurance Law Child Custody Child Support Criminal Law Divorce Family Law FEMA Insurance Payments Florida’s Mandatory 2‑Hour Legal Professionalism CLE: Foreclosure Defense Fort Myers Hurricane Insurance Attorney General Guardianship HD Law Partners Service HOA/Property Management Homeowners Association Homeowners Insurance Hurricane Claims Hurricane Insurance Insurance Bad Faith Insurance Claims Insurance Defense Insurance Litigation Landlord Tenant Law Enforcement Liability Loan Modifications Mold Water Damage Parental Rights Paternity Personal Injury Premises Liability Law Prenuptial Agreements Private Security Property Distribution Property Owner Law Sarasota Insurance Litigation Attorney Slip Fall Tampa Business and Corporate Attorneys tampa family attorney Tampa Insurance Attorneys Timeshare Timesharing Uncategorized HD Law Partners is proud to be your trusted full-service law firm Quick Links Property & Casualty Business & Corporate Litigation Family Law Contact Us Careers Get In Touch 2002 North Lois Avenue Suite 510 Tampa, FL 33607 813-253-5333 Contact Us