Canadian Underwriter

Topic Cyber

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Brokers urged to stay on top of coverage changes as businesses re-open

June 22, 2020 by David Gambrill

Brokers 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

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How the lack of cyber caselaw worked against an insurer in a $75-million data breach lawsuit

June 9, 2020 by David Gambrill

The 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

News CommercialCyber

Cybersecurity an afterthought for businesses during the pandemic, study suggests

June 5, 2020 by Adam Malik

Cybersecurity 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

News BrokersClaimsCyberRisk ManagersTechnology

These types of businesses are in serious need of a cyber policy

May 28, 2020 by David Gambrill

With 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

News BrokersClaimsCyberRisk ManagersTechnology

What smaller brokerages need to sell cyber to SMEs

May 21, 2020 by David Gambrill

Smaller 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

News BrokersClaimsCyber

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

News BrokersCyber

Cyber risks involved with digital contact tracing

May 19, 2020 by Adam Malik

Health 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

News ClaimsCyberRisk ManagersTechnology

Regulators to brokers: What is your cyber security plan?

May 11, 2020 by Greg Meckbach

What 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

News BrokersCyberRisk ManagersTechnology

How COVID-19 may change the cyber insurance landscape

May 8, 2020 by David Gambrill

One 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

News CyberEmerging RisksTechnology

The ‘hidden’ cyber risks of remote work

May 1, 2020 by Greg Meckbach

Commercial 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.

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How will COVID-19 change cybersecurity?

April 27, 2020 by David Gambrill

The 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

News BrokersCommercialCyberEmerging RisksTechnology

How to protect your clients from cybercriminals cashing in on COVID-19

April 8, 2020 by Jason Contant

Brokers 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