Topic
Risk
The real reason for spike in cyber claims
June 17, 2019 by Greg MeckbachThe number of reported cyber claims has jumped significantly, but it’s not because of the major breaches you’ve been reading in the headlines. Small to mid-sized organizations are at greater risk of cyber losses than large organizations, A.M. Best Company…
The other technology risk that’s keeping clients up at night
June 17, 2019 by Greg MeckbachIf you place commercial insurance, you probably have clients who are very concerned about the risk of making large investments in information technology projects. “The failure rate of IT projects is quite high and the returns are often not what…
Electronic logs will be mandatory for truck, bus drivers
June 14, 2019 THE CANADIAN PRESSETOBICOKE, Ont. – Transport Canada says it will require all commercial drivers to have electronic logging devices – one of the recommendations from a coroner’s report into the Humboldt Broncos bus crash. The federal department says the tamper-resistant devices will…
How this cyber breach defendant got a six-figure cost award
June 13, 2019 by Greg MeckbachDefendants who won a class-action lawsuit were recently awarded $166,000 to reimburse them for legal costs, but the plaintiffs are appealing. Casino Rama, located near Orillia, Ont. was the target of a cyber breach in 2016 by an unknown criminal.…
This social media risk lacks a mainstream insurance product
June 12, 2019 by Greg MeckbachWant to place insurance that covers a client whose revenue suddenly plummets because of a disinformation campaign? This might be easier said than done, but one commercial insurer with a Canadian branch is hoping to change this. Right now, there…
Is your client covered from business interruption arising from terrorism?
June 6, 2019 by Greg MeckbachWhat if a terrorist attack interrupts your client’s business, but causes no actual injuries or damage to that client? Some insurers today are covering non-damage costs and loss of attraction. This could come into play if there is a terrorist…
How the EU’s data privacy law will apply to your Canadian clients
June 5, 2019 by Greg MeckbachThe European Union’s new data privacy law can affect your clients even if they don’t have offices in Europe, a cyber security expert with one of the world’s biggest brokerages warns. The General Data Protection Regulation (GDPR), which took effect…
Terrorism is changing. How coverage is following suit
June 3, 2019 by Greg MeckbachAs the terrorism threat shifts from large-scale attacks to softer targets, coverage options from insurance carriers are evolving as well. Some policies cover incidents when an attacker uses a gun, knife or acid for example, Tarique Nageer, Marsh LLC’s terrorism…
Cyber hacking: customized for Canada
May 27, 2019 by Jason ContantBrokers advising their clients on cyber security will want to take note of new research that identified nearly 100 malicious email campaigns that were specifically targeted at Canadian organizations or were customized for Canadian audiences. “Much of this is due…
These risks call for better models
May 22, 2019 by Greg MeckbachCommercial clients need better tools to help risk managers predict their financial exposure to climate change and geopolitical factors, Canadian risk managers say. The risk from climate change “will be pervasive and have a massive impact and it’s something that…
How this type of client is reducing fraud risk
May 17, 2019 by Greg MeckbachBiometrics and two-factor authentication will become more popular tactics for mitigating cyber crime risk, a British Columbia credit union executive predicts. “I feel like I do a lot of biometrics,” said Marilyn Mauritz, chief transformation and governance officer at Vancouver-based…
How career prospects are looking in risk management
May 16, 2019 by Greg MeckbachAre you one of those brokers who’s thinking of changing jobs so that you’re buying commercial insurance instead of selling it? “There is a shortage of supply [of risk managers], so if anybody is looking for a fast way to…