Canadian Underwriter

Topic Cyber

News ClaimsCyberNew BrunswickTechnology

New Brunswick city rebuilding its IT system after major cyberattack

January 15, 2021 by The Canadian Press

Saint John, N.B., is rebuilding its computer network rather than submitting to criminals who launched a cyber attack against the city in November. City manager John Collin updated council Monday on the city’s efforts to rebuild its IT system following

News BrokersClaimsCommercialCyberInsurersTechnologyTrusted Advisor

Why you shouldn’t treat cyber policies like auto or property policies

January 14, 2021 by Adam Malik

Many brokers and insurers are treating cyber coverage the same way they would a generic home, auto or CGL cover, a cyber expert warns, and this is not only eroding the trust of clients, but also putting them at risk.

News BrokersCyberInsurersPersonal Home

Opinion: Personal lines cyber insurance a growing need

January 12, 2021 by Jephunneh Lattiboudeaire, Cyberscout

With much focus placed on commercial cyber insurance, not enough attention has been directed to personal customers and making sure they’re protected — and know what to do — when a cyber event hits them. And insurers are the key

News ClaimsCyberInsurersSaskatchewan

Cyberattack may have exposed 500,000 files: Saskatchewan privacy commissioner

January 12, 2021 by The Canadian Press

REGINA – A report from Saskatchewan’s privacy commissioner says more than 500,000 files with personal information could have been exposed in a ransomware attack on the province’s electronic health information network. The office started an investigation into the December 2019

News Business InterruptionClaims Canada ArchiveClaims ProfessionalsCommercialCyberEmerging RisksInsurersLegalLiabilityLoss ControlLoss TrendsRisk Managers

Why the D&O market will probably get harder

December 15, 2020 by Greg Meckbach

Data breaches and the impact of COVID-19 on a company’s financial performance are among the “megatrends” affecting directors’ and officers’ liability claims, Allianz Global Corporate & Specialty warned in a report released Dec. 15. “Outside the U.S., securities class actions

News CyberHRInsurersLiabilityQuebecTechnology

Series of gaps allowed massive Desjardins data breach, privacy watchdog says

December 15, 2020 by Jim Bronskill - THE CANADIAN PRESS

OTTAWA – A series of technological and administrative gaps caused a high-profile data breach at Desjardins – the largest to date in the Canadian financial services sector, the federal privacy watchdog has found. Privacy commissioner Daniel Therrien said Monday that

News CommercialCyberInsurersLiability

Christmas movies that would benefit from insurance coverage

December 14, 2020 by Jason Contant

It’s less than two weeks until Christmas, and insurance professionals are looking forward to some downtime following an unprecedented year. The 2020 holiday season may look different this year due to the ongoing COVID-19 pandemic, and it’s a good bet

News CyberEducationTechnology

When phishing links are dangled before insurance professionals, do they go for the bait?

December 10, 2020 by Jason Contant

There’s good news and bad news when it comes to insurance industry employees clicking on phishing email links, according to a recent study from a Laval, Que.-headquartered security awareness training firm. The good news is that global “finance & insurance”

News CyberEmerging RisksTechnology

Majority of cybersecurity executives expect to budget more to cope with COVID: study

December 4, 2020 by The Canadian Press

TORONTO – A new study estimates more than half of executives responsible for cybersecurity expect to grow their budgets in response to new challenges raised by the COVID pandemic. Consulting firm PwC Canada says a poll of 3,000 executives around

News CyberEducationHRInsurers

Insurer CFOs share personal experiences dealing with cybercriminals

December 1, 2020 by Jason Contant

About two years ago, Northbridge Financial Corporation’s chief financial officer Craig Pinnock received an email purportedly from Northbridge CEO Silvy Wright requesting help with a wire transfer. “Silvy’s name’s there, Silvy’s signature, so I fire back quickly, ‘Sure, no problem.

News CyberEmerging RisksHRNova Scotia

Auditor general says N.S. slow to act on cybersecurity amid increasing risk

December 1, 2020 by The Canadian Press

HALIFAX – Nova Scotia’s auditor general says the COVID-19 pandemic is highlighting the need for more robust cybersecurity and anti-fraud measures as government employees are forced to work remotely. However, he says the provincial government isn’t working fast enough to

News ClaimsClaims Canada ArchiveCommercialCyberLegalPropertyQuebecRisk ManagersTechnology

$5-million cyber claim for phishing scam heads to top court

November 30, 2020 by Greg Meckbach

A $5-million coverage dispute with The Co-operators that arose from a phishing attack is headed to the Supreme Court of Canada. Canada’s top court is booked Dec. 7 to hear arguments in Co-operators General Insurance Company v. Sollio Groupe Coopératif.