Canadian Underwriter

Topic Cyber

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Two emerging trends in D&O liability

March 2, 2021 by Jason Contant

Cyber claims morphing into directors’ and officers’ liability and the increased sophistication of the plaintiff bar in Canada are two emerging trends in D&O lines, HDI Global Specialty SE – Canada told Canadian Underwriter recently. Oren Schemool, head of financial

News CyberLiabilityTechnology

Complaints spike as taxpayers’ watchdog to review CRA handling of locked accounts

February 26, 2021 by Jordan Press - THE CANADIAN PRESS

OTTAWA – The federal taxpayers’ watchdog says complaints to his office spiked in the hours after he went public with concerns about how the Canada Revenue Agency locked users out of their online accounts. The accounts were locked just over

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Canada’s hardest-hit commercial lines — and a reason for optimism

February 18, 2021 by David Gambrill

Commercial lines market hardening in Canada — and globally — should continue through the early half of 2021, with some possible easing of rate increases during the second half of the year once vaccine rollout is widespread, an Aon report

News B.C.Cyber

B.C.’s Simon Fraser University reports cyberattack, some personal information exposed

February 18, 2021 by The Canadian Press

BURNABY, B.C. – Simon Fraser University says a cyberattack on a school server has exposed personal information. The British Columbia university says in a statement that spreadsheet data on the breached server contained personal information for a number of current

News CyberEmerging RisksLiabilityTechnology

Audit finds ‘no formal tracking’ of IT security incidents at Public Safety Canada

February 17, 2021 by Jim Bronskill - THE CANADIAN PRESS

OTTAWA – An internal review has uncovered weak security practices when it comes to information technology at Public Safety Canada – from lax controls on the use of portable flash drives to inadequate awareness and training. The review found employees

News BrokersClaimsCyberEmerging RisksInsurersPersonal AutoPersonal HomeTrusted Advisor

How brokers can help personal cyber go mainstream

February 16, 2021 by Adam Malik

Although it will take some time, selling personal cyber insurance will come as naturally to brokers as selling home and auto insurance to customers, an expert predicts. Until that happens, however, it’s up to brokers to make sure that personal

News ClaimsClaims Canada ArchiveCommercialCyberEmerging RisksLoss ControlLoss TrendsTechnology

What the P&C industry is telling Wall Street about cyber risk

February 9, 2021 by Greg Meckbach

Commercial insurers are taking a good look at their exposure to widespread cyber events and some are forming partnerships with tech vendors in the hopes of improving their clients’ cyber risk management. “The next pandemic – the exposure that looks

News B.C.CyberEmerging RisksLiabilityTechnology

B.C. health authority’s cybersecurity lacking on medical devices, says audit

February 9, 2021 by Jason Contant

VICTORIA – British Columbia’s auditor general says the Provincial Health Services Authority is not effectively managing cybersecurity threats for medical devices and has not evaluated the risk to patients. Michael Pickup says ineffective cybersecurity management means the authority can’t apply

News CommercialCyberMergers and AqcuisitionsTechnology

Sontiq announces agreement to acquire CyberScout

February 2, 2021 by Jason Contant

High-tech security and identity protection company Sontiq announced Tuesday it had signed a definitive agreement to acquire CyberScout, a major provider of cyber products and services tailored to the insurance industry. “Through Sontiq’s comprehensive product portfolio, major insurance carriers, mutual

News BrokersClaimsCommercialCyberInsurersLoss ControlOperationsTechnology

Cyber’s hard market separating insurer wheat from chaff

January 29, 2021 by Adam Malik

The global COVID-19 pandemic has distinguished between cyber insurers who are serious about offering coverage, and those who were just hoping to ride the gravy train while times were profitable, according to one industry analyst. Cyberattacks have skyrocketed, in part

News CommercialCyberQuebecTechnology

New Maritime research centre to fight cyber pirates

January 28, 2021 by Jean-Benoit Legault - THE CANADIAN PRESS

MONTREAL – A new research centre created at Montreal’s Polytechnique university will aim to protect ships from pirates – and they’re not talking about Blackbeard or Captain Kidd. Canada’s Maritime Cyber Security Centre of Excellence will combine the expertise of

News Cyber

Cyber cops in 9 nations, including Canada, team up to disrupt dangerous malware

January 27, 2021 by Mike Corder - THE ASSOCIATED PRESS

THE HAGUE, Netherlands – Law enforcement authorities in several countries have joined forces to disrupt what they call one of the world’s most dangerous pieces of malware, one that allowed criminal gangs to install ransomware and steal data from computer