Topic Cyber
Why it’s important to understand legal privilege after a breach
December 7, 2023 by Jason ContantA recent court ruling in Australia concerning the primary purpose of a forensics report following a cyberattack serves as a crucial reminder about legal privilege for Canada’s cyber insurance market. In a Nov. 10 decision, the Federal Court of Australia…
Hacker U, leaked nudes and AI: predicting 2024 cyber threats
December 5, 2023 by David GambrillHacking courses for amateurs, leaked nudes and AI-supported scams are popular cyber threats identified in dark web forums, a cybersecurity firm has warned. NordVPN is a global virtual private network (VPN) service provider founded in 2012. It establishes secure digital…
Government impersonation, phishing are top financial scams, Interac survey finds
November 30, 2023 by Ritika Dubey - THE CANADIAN PRESSTORONTO – Government impersonation is one of the most common financial scams plaguing people across Canada, a new survey from payment processing company Interac Corp. has found. The report, released Tuesday, said 42 per cent of survey respondents reported dealing…
What worries Canadian businesses about Quebec’s language law
November 22, 2023 by Jason ContantQuebec’s recently enacted French-language law is causing some Canadian businesses concerns about compliance and even fear of losing employees, a new business risk report from Beazley suggested. Bill 96, An Act respecting French, the official and common language of Québec,…
Is it time for a new approach to systemic cyber?
November 10, 2023 by Jason ContantSystemic cyber risk needs to be tackled with more capacity and ways of dealing with the attritional cyber market, Marc Lipman, president and attorney-in-fact at Lloyd’s Canada, suggested during an industry event last month. “Just like there developed a traditional,…
What’s new about Westland’s latest deals
November 10, 2023 by Alyssa DiSabatinoWestland Insurance announced its partnership with employee benefits and retirement solutions provider Prime Benefits Group Inc. Westland said the deal is part of its strategy to enhance its group benefits portfolio and strengthen its position in the Canadian market. Based…
Business owners lack cyber insurance knowledge: survey
November 9, 2023 by David GambrillOne out of every five Canadian businesses surveyed said they don’t know enough about cyber insurance, suggesting an open window for brokers and insurers to provide educational support, a new cyber survey from Travelers Canada suggests. “I think what the…
Is personal cyber the new fire?
November 6, 2023 by Alyssa DiSabatinoClients are seven times more likely to fall victim to a cybercrime than a house fire. But while most homeowners realize the need to have a fire extinguisher on hand, or to cover their risks with home insurance, many…
Ontario hospitals warn stolen patient, employee data may be published
November 2, 2023 by The Canadian PressFive Ontario hospitals affected by a recent ransomware attack, along with their shared IT provider, are warning patients and staff that their data may be published. The attack caused an outage of some online services at Bluewater Health, Chatham-Kent Health…
What’s driving rising ransomware attacks
October 30, 2023 by Philip PoradoRansomware attacks are increasing globally thanks to evolving cybercrime tactics that make it easier for thieves to transfer data from computers or other devices. “Cyber claims frequency has picked up again this year as ransomware groups continue to evolve their…
How the hard market impacts public risk managers
October 25, 2023 by Alyssa Di SabatinoBudgeting is where risk managers of publicly owned organizations feel the hard market the most. Public risk managers must often buy insurance for their entire region or branch while predicting what future losses may be. Like all risk managers, they…
The most common cyber claims in Canada
October 23, 2023 by Alyssa DiSabatinoRansomware continues to be one of the top cyber threats to Canadian businesses, even though wire transfer fraud incidents are more expensive on average, according to a recent industry study. The average ransomware incident costs companies $596,000 USD, accounting for…