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risks. Not only are we increasing that morass of constant meetings, but we’re exposure, those avenues are being ac- not saying enough, I feel. So it’s bring- tively targeted by individuals who are ing in a fresh point of view, discussing looking to take advantage. It’s similar to it, utilizing the assets you have to give what happened when we started getting you a new view of your risk pro? le. And a lot of Amazon deliveries and people quite honestly, that’s what we do at Al- started getting their stuff stolen off their lianz. We are risk consultants. We look front porches. at and work with our insureds, identify

So I refer to them as some of the their problems, and talk with them about digitalization dangers. Cyber is part of different strategies to mitigate or limit that digitalization, just like cloud-based those risks.

things.

Watch Captain Andrew Kin-

Hand in hand with the question on cy- sey discuss Risk in 2021 ber security is growing digitalization on MR TV: bit.ly/3pwbHzd of the supply chain in general.

The key to the digitalization is it has to work all the time; that’s the Achil- les heel. So when you can’t connect to the cloud it doesn’t matter how much of your inventory is secure on the cloud; it’s so secure you can’t get to it. It’s like these guys who have Bitcoin accounts and forget how to log into it. So yeah, it’s really secure. It’s so secure you can’t touch it.

What can you leave as some salient bits of advice on what our readers can do today to help them identify, manage, and mitigate risk better in their businesses?

There’s four accepted strategies for risk mitigation: acceptance, avoidance, limitation or transference. Limitation is the most common, and I equate limita- tion to changing course, increasing our

CPA when we know if a danger is there.

Transference is the business we’re in here at Allianz, as the easiest method of transference is insurance. But the over- all key is communication, and that’s what we stress right now.

We are going into our 11th month of lockdown, with a lack of business travel and no face-to-face meetings. As a re- sult, communication is getting more and more dif? cult because we get into this www.marinelink.com 59

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