Topic
Technology
Digital-first firms partner on car-share coverage
August 17, 2023 Canadian Underwriter StaffDigital auto and home insurance provider Onlia has partnered with car-subscription service Roam to provide its Ontario customers with personalized rates and a faster checkout when picking up cars. In addition to vehicles, Roam’s pay-as-you-go subscriber plan members are provided…
What will help reduce farm fire severity?
August 15, 2023 by Jason ContantThe severity of fire losses in the agricultural sector is increasing as Canadian farms get bigger in size and value, but technologies are available to help reduce the frequency of that severity, a farm insurance expert told Canadian Underwriter. In…
Hub privacy breach affects “limited” amount of Canadian data
August 11, 2023 by David GambrillHub International Limited, a Chicago-based brokerage with offices in 10 Canadian provinces and territories, has reported a privacy breach of data related to “a limited number of Canadians.” Hub posted a “notice of a data privacy event” online on Friday,…
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…
Would a government ban of ransomware work?
August 8, 2023 by David GambrillIn the United States, the White House has floated the idea of a total ban on ransomware payments, a move that could change the role of a company’s chief information and security officer (CISO), says one expert on corporate information…
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…
How Canadian P&C insurers are tackling record auto thefts
July 17, 2023 by Jason ContantAfter the Canadian P&C insurance industry paid out a record $1 billion for auto theft in 2022, some insurers are tackling the issue by offering discounts for consumers installing a tracking system or applying surcharges for those who don’t equip…
What’s to blame for distracted driving trends?
July 14, 2023 Philip PoradoBrokers hear lots of stories about minor fender-benders that don’t lead to injuries. And some could even be seen as amusing – if they weren’t linked to financial losses for insurers. “We had an incident where someone was trying to…
Human error may have caused data breach involving thousands in P.E.I.
July 11, 2023 The Canadian PressCHARLOTTETOWN – Prince Edward Island says the personal information belonging to thousands of people may have been part of a privacy breach caused by human error. It says the information of 5,600 clients enrolled in a provincial employment program was…
Why personal lines cyber is a growing need for consumers
July 10, 2023 by Alyssa DiSabatinoWhen a company has been cyber breached, they are obligated to tell their clients their data’s been leaked. But personal consumers may be more likely to bury their shame and eat the cost of the cyber scam—even to their detriment,…
How the pandemic changed adjusting for the long haul
July 10, 2023 Philip PoradoCOVID-19 restrictions led adjusters to shift claims work to desktop teams. The change was driven by client reluctance to meet in-person and employees’ desire to reduce site work until the risks were better understood. But those changes can make some…
How insurers can reduce cyber claims without slashing coverages
July 6, 2023 by Alyssa DiSabatinoCyber insurers are finding that acting as incident response services for their small- to mid-sized business clients is helping to reduce overall claims, experts shared during an industry conference. Insurers should be the first ones to open the lines of…