Canadian Underwriter

Topic Cyber

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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

News CyberEducationLicensingManagementOperationsPersonal AutoPersonal HomeTechnology

Open banking in Canada could help insurers with credit scoring

January 20, 2021 by Greg Meckbach

Open banking could give insurers better data for credit scoring, suggests an official with the organization that handles clearing and settlement for banks in Canada. “I think we will see more accurate underwriting and more accurate credit scoring,” Andrew McFarlane,

News BrokersBusiness InterruptionCyberEmerging RisksInsurersTechnology

‘COVID Trio’ tops the biggest biz risks for this year

January 19, 2021 by Adam Malik

Business interruption, the COVID-19 pandemic, and cyber are the top three risks facing businesses this year – and all three are connected to each other, says a new report. Allianz Global Corporate & Specialty (AGCS)’s Risk Barometer for 2021 found

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”