Canadian Underwriter

Topic Cyber

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

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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

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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

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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,

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‘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

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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

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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.