BUSINESS PROCESS OUTSOURCING FIRMS FACE NEW RISKS, SHARPER CONTRACT BATTLES
Claim Trends and Best Practices for Reducing Professional Liability and Data Protection Risks
This collaborative research paper written by Lockton's Emily Freeman and AIG's Robert Ballerini highlights key third-party risks and claim developments for companies that provide BPO and ITO services. The authors offer practical insights on how BPO and IT outsourcing companies can deal with risks, reduce their exposure, and deliver on expectations to both their shareholders and clients. The report includes a six-point plan for reducing professional liability claims for BPO and IT outsourcing firms along with 10 recommendations for improving their IT security.
"The contractual battle between allocation of risk between service providers and clients has sharpened. Essentially, much more risk is being driven to the service provider," putting BPO and IT outsourcing companies at greater risk.
Read the full paper here.
Technology and Intangible Risks
U.S. Head, Financial Lines,
Specialty Claims, New York