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Communications

Sophisticated tools, powerful analytics, and deep insights can help you better assess, understand, and manage risks, thereby providing greater protection for your business.
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For communications, media, and technology (CMT) companies, risk management can be challenging, simply because the stakes are so high. Multiple client business functions rely on the services you provide.

Success hinges on the ability to seize opportunities afforded by innovation in a rapidly-changing marketplace – while managing the risks. Data breaches and other cyber risks are growing. Media liability claims proliferate as new formats and distribution channels appear.  Supply chain bottle-necks threaten the global flow of hardware, software, and raw materials. And convergence and collaboration – both between and within sectors – are reshaping the landscape.

Marsh can help you understand and manage these risks using some of the industry’s leading risk assessment tools, data, analytics, and technology. With these tools and one of the CMT sector’s most comprehensive claims database, we quantify and prioritise exposures, helping to educate insurers, then customise coverage to align with your organisation’s risk profile. And, with one of the largest CMT practices in the industry, we have the knowledge of the sector to provide acute insights that help you grow with confidence.

The results: A clearer understanding of your risk management programme, optimised operational costs, and decreased volatility.

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The communications services industry includes companies across a broad range of technology modalities, including major internet service providers, wireless providers, broadband companies, cable companies, and more. 

As social media platforms continue to grow and merge their service offerings with other providers, there is an increasing degree of crossover between the communications services industry and communications technology.

Cybersecurity, business disruptions, and climate change are some of the major risks facing the communications services industry today. 

Cybersecurity exposures have dramatically increased in recent years, as the pace of technological implementation and widespread usage has greatly outstripped the pace of security measures intended to keep users’ information and the networks they rely on secure and resilient to outages. As more and more of our lives involve technology, cyber resilience will be a major focus of risk mitigation efforts for communications services companies.

Communications services companies are also finding themselves more vulnerable to services outages from natural disasters, power and other infrastructure failures, and technology failures. No matter the cause of an outage, communications services companies – and the vendors they rely on – can face contractual liabilities and reputational risks.

Related to this would be climate change risk. The increase in frequency and intensity of many wildfires, floods, and tropical and winter storms that can compromise transmission equipment means that there can be increased repair costs to contend with, but also greater investments needed to improve the resilience of vital infrastructure.

As communications services companies’ offerings continue to grow and expand, so does their need for a diverse range of insurance coverage. Risks to be managed range from protecting employees, operations, and property – whether corporate offices, data centers, transmission towers, or satellites – from natural hazards, cyberattacks, and other disruptions to mitigating exposures due to lapses in professional duties. 

Depending on the exact service offerings and location of assets of a communications services company, insurance coverage might include property and business interruption, commercial auto insurance, errors and omissions (E&O), directors and officers, and cyber.

As a result of the constantly-evolving nature of this industry, risk management strategies, including appropriate insurance coverage, may vary over time. Having a trusted advisor at your side, such as Marsh, can help you navigate your dynamic risk landscape.