Brokers may be at risk of unintentionally exposing client data or other proprietary information when they’re not working from the office. But with much of the industry doing hybrid or remote work — and showing reluctance to return to the…
Recent loss ratio data suggests the hard market in cyber insurance has plateaued. In part, that’s due to underwriters being more discriminating about which risks they select for coverage. “Insurance companies have rightsized their books. They know which clients they…
Two-in-five employees surveyed (42%) said they’ve seen an increase in cyber scam attempts over the last year, yet only a third of surveyed employees (34%) reported their company provides mandatory cyber security awareness training, finds new research by the Insurance…
Cyber insurers need to tread lightly when using cyber security rating scores — also known as outside-in security-risk assessments — because the data can be skewed and may mislead consumers into believing they’re more protected than they really are, said…
The largest city in Canada and Ontario’s capital is an international business centre for finance, business, arts, and culture and now has a thriving start-up tech sector and ‘insurtech’ is a fast-growing component. Not many know that Toronto has been…
With cybersecurity spending expected to exceed US$1 trillion, it’s clear more businesses than ever before are realizing the need to invest in their cyber defenses. “Yet throwing money at a problem is never the lone answer,” says Kevin Auger, department…
The global pivot to remote work at the start of the pandemic sent organizations scrambling to set up work-from-home solutions to keep business moving along. While we’re much further along than those early days—and starting to move toward hybrid work…
If your client has a formal process to disable computer network access for employees and contractors who no longer work there, that client’s cybersecurity is better in at least one respect than some of British Columbia government departments. The province’s…
Insurance Bureau of Canada officials are hoping a $145-million commitment by the federal government towards cyber security will help the industry better understand how much a cyber incident could cost. In the 2019-20 budget document tabled Tuesday, federal Finance Minister…
British Columbia’s electric utility is managing its cyber security risk for system components that must conform to mandatory reliability standards, but not for components to which the standards do not apply, the province’s auditor general has found. “We concluded that…
OTTAWA – The federal government committed hundreds of millions of dollars in its recent budget to help reinforce Canada’s cyber defences _ but if the effort fails to prevent a major attack, Ottawa can always turn to its little-known $102-billion…
Unprepared distribution utilities are urged to immediately begin improving their cyber security capabilities given the anticipated future hike in cyber attacks and the fact that most recently polled utility executives say such an attack could interrupt electricity supply, Accenture suggests…