Topic Cyber
Brokers urged to stay on top of coverage changes as businesses re-open
June 22, 2020 by David GambrillBrokers are advised to be aware of the “second wave” — and that doesn’t refer to the anticipated increase in the number of novel coronavirus infections in the fall. No, brokers are now being cautioned about the new wave of…
How the lack of cyber caselaw worked against an insurer in a $75-million data breach lawsuit
June 9, 2020 by David GambrillThe lack of cyber case law worked against an insurer in the Ontario Superior Court of Justice recently, with the court deciding that The Co-operators has a duty to defend two parties named in a $75-million cyber breach class action…
Cybersecurity an afterthought for businesses during the pandemic, study suggests
June 5, 2020 by Adam MalikCybersecurity has become an afterthought for commercial clients amid the coronavirus pandemic, with companies not implementing enough safeguards for employees working from home, a new report warns. Not only are few companies providing employees with company devices so that they…
These types of businesses are in serious need of a cyber policy
May 28, 2020 by David GambrillWith ransomware and financial fraud on the rise, smaller businesses in Canada are vulnerable, particularly less-sophisticated organizations that move large amounts of money. For smaller brokerage houses selling cyber, examples of your next opportunities may be car dealers, people involved…
What smaller brokerages need to sell cyber to SMEs
May 21, 2020 by David GambrillSmaller brokerages need improved tools to sell cyber insurance to small and mid-sized enterprises (SMEs), a cyber insurer told Canadian Underwriter recently. The industry is currently working to provide those tools, which may include a scaled version of the third-party…
Opinion: How to sell cyber insurance digitally
May 20, 2020 by Nick Novinger, Regional Manager (Quebec), Canadian Insurance Brokers Inc.We’re operating in a much more digital world than just a few months ago. As companies of all sizes scramble to make their operations work outside their physical buildings, the threat of cyberattacks increases. Small business clients intuitively understand the…
Cyber risks involved with digital contact tracing
May 19, 2020 by Adam MalikHealth officials are recommending time-honoured techniques to help reduce the spread of the novel coronavirus. Today’s technology can make these methods more effective than they’ve ever been, a researcher argued recently, but that means people would have to sacrifice one…
Regulators to brokers: What is your cyber security plan?
May 11, 2020 by Greg MeckbachWhat programs – if any – does your brokerage have in place to mitigate your own cyber risk? This is what your provincial regulator could be asking you, if they haven’t already. “If the Registered Insurance Brokers of Ontario knocks…
How COVID-19 may change the cyber insurance landscape
May 8, 2020 by David GambrillOne long-term impact of the novel coronavirus pandemic may be an uptick in the sale of commercial cyber insurance policies, industry experts predicted during a recent Canadian Underwriter webinar. In addition, the pandemic may provide an opportunity for brokers to…
The ‘hidden’ cyber risks of remote work
May 1, 2020 by Greg MeckbachCommercial clients are vulnerable to hidden risks when they have large numbers of people suddenly working remotely or from home in a disaster, as we are seeing in the pandemic, experts told brokers listening in to Canadian Underwriter’s latest webinar.…
How will COVID-19 change cybersecurity?
April 27, 2020 by David GambrillThe business email from your chief financial officer seems innocent enough: “Hey Larry, the client changed their bank account information. Can you send them money to their new bank account number?” Under ordinary circumstances — that is, before the novel…
How to protect your clients from cybercriminals cashing in on COVID-19
April 8, 2020 by Jason ContantBrokers advising clients on cyber insurance during the COVID-19 pandemic will want to make sure there is an appropriate loss of income coverage under the policy, similar to other lines of insurance, a specialist insurer said recently. “If we were…