Topic
Technology
Global Affairs Canada investigating ‘malicious’ cyberattack and data breach
January 31, 2024 by Jason ContantOTTAWA – Global Affairs Canada announced Tuesday it is investigating a cyberattack and data breach that has forced it to limit remote access to its networks. The department said in a statement, which confirmed earlier media reports, that early results…
Why systemic cyber remains an industry risk
January 30, 2024 by Jason ContantEditor’s Note: An earlier version of this article said that CFC established the cyber monitoring centre when in fact they were the driving force behind its establishment. As well, the article implied that the centre has a link to insurance…
How cyber pricing is trending for large Canadian companies
January 25, 2024 by Jason ContantLarge corporate cyber clients in Canada saw pricing decreases last year and one cyber underwriter expects the market for those risks will flatten out in 2024. “In 2023, we did see some fairly significant softening in the market; prices were…
Feds heed auto insurers’ call for auto theft summit
January 24, 2024 by David GambrillCanada’s federal government has answered the call by the nation’s auto insurers to promote a whole-of-society solution to a mounting auto theft crisis. A National Summit on Combatting Auto Theft will take place in Ottawa on Feb. 8, 2024, Public…
Toronto Public Library gradually recovering from hack, more services back next month
January 19, 2024 Maan Alhmidi - The Canadian PressTORONTO – Canada’s largest public library system is gradually restoring more of its services after an October cyberattack brought down its website and likely exposed sensitive employee information. The Toronto Public Library said customers will be able to see a…
Toronto Zoo says staff personal info stolen in ransomware cyberattack
January 18, 2024 The Canadian PressTORONTO – The Toronto Zoo says it believes personal information of its current, former and retired employees was stolen in a ransomware cyberattack first detected earlier this month. The zoo says the information includes past earnings information, social insurance numbers,…
How insurtechs can stand out in a crowded P&C market
January 17, 2024 by David GambrillMarket dynamics are making it tougher for start-up insurtechs to find willing insurance company partners, and some say digital specialization is the key for insurtechs to make their way into the squeezed P&C industry. “Focus on specific differentiation,” advises Marcus…
Quantum computing: How could it be regulated?
January 16, 2024 by Jason ContantCanadian financial services regulators have the emerging technology of quantum computing on their radar, but questions remain around its potential regulation. “Regulating quantum computing, especially in the context of the insurance industry, is complex due to the technology’s novelty and…
Regulator seeks industry feedback on AI, quantum computing
January 5, 2024 by Jason ContantCanada’s financial services supervisory regulator is seeking input from federally regulated financial institutions (FRFIs) on how they are adopting artificial intelligence (AI)/machine learning (ML) into their operations. The Office of the Superintendent of Financial Institutions (OSFI) and the Financial Consumer…
Cybersecurity issue delays in-person classes at Newfoundland’s Memorial University
January 3, 2024 The Canadian PressST. JOHN’S, N.L. – A Memorial University campus in western Newfoundland is the latest Canadian post-secondary institution to be grappling with what officials are calling a “cybersecurity incident.” The beginning of most in-person classes for the winter semester at Memorial’s…
Transport Canada says Tesla recall will affect roughly 193,000 cars in Canada
December 14, 2023 The Canadian PressOTTAWA – Tesla’s recall over its autopilot function will affect about 193,000 vehicles in Canada. Transport Canada says Tesla will provide an over-the-air software update to fix the advanced driver assistance features. Transport Canada says the recall will be added…
4 ways ChatGPT could worsen cyber risk
December 14, 2023 by Jason ContantLanguage models like ChatGPT could be used by bad actors to re-write software code and better prepare phishing emails, a cyber specialist warned recently. The state-of-the-art language generation model is capable of understanding and generating human-like text based on a…