Canadian Underwriter

Topic Cyber

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The future of cyber-security: MFA and beyond

June 17, 2022 by Jason Contant

Here’s some cyber security advice for your clients: time to install multi-factor authentication (MFA). In the future, that advice may morph to: Please send us a scan of all your tech vulnerabilities, so we can see what cybercriminals see. As

Riot police dealing with a protest and fire on a city street.
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How to help your clients prepare for civil unrest

June 16, 2022 by Philip Porado

Strikes, riots and violent protests sparked by inflation pose risks to companies, both in terms of physical damage to buildings and other assets, as well as income loss due to business interruption and an inability to access premises, said a

Robot holding a brain to represent artificial intelligence.
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How do you insure artificial intelligence?

June 15, 2022 by Alyssa DiSabatino

Picture this. Your client is manufacturing a car that includes software to apply the brakes automatically when approaching slow traffic. No doubt, this software has some built-in artificial intelligence (AI) elements. When insuring a vehicle manufacturer, it’s not too difficult

Canadian flag beside the word 'military' on a keyboard
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Personal information about more than 100 military sex misconduct claimants leaked

June 15, 2022 by Lee Berthiaume - THE CANADIAN PRESS

OTTAWA – The company overseeing the federal government’s $900-million settlement deal with military members who experienced sexual misconduct in uniform is admitting to more privacy breaches, despite repeated promises to have fixed the problem. Epiq Class Action Services Canada confirmed

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How your large business clients can manage cyber risks they can’t see

June 14, 2022 by David Gambrill

In the wake of lifting of pandemic restrictions, digital transformation is becoming so extensive that organizations are having trouble getting a handle on their broadening cyber exposures. “As organizations grow and incorporate digital and cloud transformation into the fabric of

Network and cybersecurity concept
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Key enterprises could face penalties under federal bill to bolster cybersecurity

June 14, 2022 by Jim Bronskill - THE CANADIAN PRESS

OTTAWA – Key enterprises in the banking, telecommunications and transportation industries would be among those required to bolster cybersecurity and report digital attacks – or possibly face penalties – under a federal bill introduced Tuesday. The legislation is intended to

IT engineer working on protecting a network
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A unified cybersecurity strategy is the key to protecting businesses

May 30, 2022 by The Canadian Press

By Camelia Radu, Associate Professor in Accounting, Universite du Quebec a Montreal (UQAM) and Nadia Smaili, Professor in Accounting (forensic accounting), Universite du Quebec a Montreal (UQAM) – THE CONVERSATION This article was originally published on The Conversation, an independent

Container ship, heavily loaded, at sea.
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War and other factors loom over shipping sector: report

May 27, 2022 by Philip Porado

While fewer total losses of cargo ships worldwide is good news for marine insurers, the number of shipping casualties rose during 2021, said Allianz Global Corporate & Specialty’s (AGCS) annual Safety & Shipping Review. Globally, 54 total vessel losses were

Internet of Things concept
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How modern tech companies are leaving old insurance policies in the dust

May 19, 2022 by Jason Contant

Modern tech companies are moving along at a much faster pace than the insurance policies designed to protect them, says Michael Brunero, head of tech, media and intellectual property (IP) at CFC Underwriting. “We started to realize the policy that

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5 key trends in the Canadian P&C market, according to Aon

May 18, 2022 by Canadian Underwriter Staff

P&C insurers are actively managing how they deploy their global capacity for cyber insurance, and the underwriting process for that sector continues to gain rigor, said Aon’s quarterly global markets insights report. Although the frequency of cyber claims remained relatively

Gathering the data for underwriting a risk.
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Where have all the good underwriters gone?

May 12, 2022 by Gloria Cilliers

For years, insurers have poached commercial underwriters from one another amid M&A activity, an aging population and hard/soft markets. But that’s left the industry with less seasoned talent and slower investment in acquisition, training and retention. “Suddenly, more so than

Purchasing cannabis with a credit card
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Pot shop sales data was ‘misappropriated,’ Ontario cannabis distributor says

May 11, 2022 by Tara Deschamps - THE CANADIAN PRESS

TORONTO – The Ontario Cannabis Store says a data breach involving some of its sales information is being investigated by the Ontario Provincial Police. Daffyd Roderick, a spokesperson for the Crown agency responsible for distributing cannabis from producers to pot