The report highlights how the technology's recent rise in popularity has caused a shift from the reliable and secure traditional telephone network to an "internet environment of extreme risk." Just as the information of users is at risk with each boot up of a computer, users of VoIP will be at risk from hostile acts such as spying, hacking, intrusion, identity and intellectual property theft and interruption of service.
At risk are a growing number of insured sectors that rely on VoIP, including the government, military, banking industry and hospitals. "Cyber insurance products will be created for users of VoIP as well as for VoIP providers and vendors," said Glenn Tippy, report co-author. "The effect on our economy will be profound."