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IBM
Canadian businesses hit hard by data breach costs
August 10, 2023 by Alyssa DiSabatinoEven as Canadian companies become more aware of their cyber risk, threat actors are hardly deterred, a new report shows. Canadian companies are paying nearly $7 million Cdn, per incident, in data breach costs. That’s the third highest in…
Financial burden of cybercrime in Canada remains high: IBM report
July 24, 2023 Amanda Stephenson - THE CANADIAN PRESSCALGARY – Increased corporate awareness and a string of high-profile incidents have done little to reduce the financial burden of cybercrime in Canada, according to a new report. The average cost to companies of a cybersecurity breach in Canada as…
Connected Consumers
November 8, 2017 Greg Meckbach, Associate Editor; and Angela Stelmakowich, EditorInsurtechs may present a threat to established insurance providers, but an Executive Forum speaker contends that young people should be in the market for a trusted advisor
AIG, IBM and Standard Chartered Bank pilot “first multinational insurance policy powered by blockchain”
June 15, 2017 by Canadian UnderwriterAmerican International Group Inc. (AIG), IBM and Standard Chartered Bank plc announced on Thursday that they have successfully piloted what they are calling the “first multinational ‘smart contract’ based insurance policy using blockchain.” Working together, AIG, IBM and international banking…
Global business leaders cite regulatory risks, disruptive influences and cyber risks as key challenges
June 14, 2017 by Canadian UnderwriterCompanies in Canada and around the world are being increasingly impacted by risk, with nearly three quarters (72%) of business leaders polled in a recent survey “citing that they believe we are living in a riskier world,” said a new…
IBM and SecureKey Technologies to deliver blockchain-based network for Canadian consumers
March 21, 2017 by Canadian UnderwriterIBM and SecureKey Technologies, an identity and authentication provider company, announced on Monday that they are joining forces to “enable a new digital identity and attribute sharing network” based on IBM Blockchain. “The network will be designed to make it…
IBM’s famed Watson computer ‘gets a job’ fighting cybercrime threat
February 13, 2017 Kevin Bissett - THE CANADIAN PRESSFREDERICTON – A year after IBM began teaching its Watson computer system to fight cybercrime, the company is making the platform available for use. “Now he gets a job and makes us some money,” quipped Caleb Barlow, vice-president of IBM…
Canadian Institute for Cybersecurity opens at the University of New Brunswick
January 16, 2017 by Canadian UnderwriterThe University of New Brunswick (UNB) announced on Monday that the Canadian Institute for Cybersecurity (CIC) – an “innovative hub for research, training and industry collaboration” – opened at the university on Monday. With more than $4.5 million in funding…
Two-thirds of global organizations not prepared to recover from cyberattacks: IBM and Ponemon Institute study
November 18, 2016 by Canadian UnderwriterTwo-thirds (66%) of respondents to a study conducted by the Ponemon Institute have reported that their organization is not prepared to recover from cyberattacks. Resilient, an IBM Company and sponsor of the report, and the Ponemon Institute, revealed the results…
IBM and Majesco form five-year partnership to accelerate new global insurance services
October 3, 2016 by Canadian UnderwriterTechnology company IBM announced on Monday a five-year partnership with Majesco – a global provider of core insurance software, consulting and services for insurance business transformation – to jointly offer a new cognitive, cloud-based platform to help insurance carriers worldwide…
Data breaches detection, escalation costs highest in Canada: global IBM/Ponemon report
June 16, 2016 by Canadian UnderwriterDetection and escalation costs related to data breaches were the highest in Canada and lowest in India, note findings of a new global survey released Wednesday. “The average detection and escalation costs for Canada was US$1.60. In contrast, the average…
App Flap
June 1, 2016 Greg Meckbach, Associate EditorMobile application developers can do plenty to reduce the security risk of their apps. That said, information security also depends on the devices themselves, which, unfortunately, are not always within the control of insurers or their developers.