Topic Risk Managers
The top threat facing Canadian businesses
April 29, 2019 by Jason ContantCyber attacks and data breaches are the Number 1 threat to businesses in North America, according to Aon plc’s newly released 2019 Global Risk Management Survey. Aon surveys thousands of risk managers across 60 countries and 33 industries every two…
What a liberal arts gaming enthusiast can bring to the cyber security table
April 29, 2019 by Greg MeckbachA priest or minister could help your client manage cyber risk, and it’s not by praying that cyber criminals will leave your client alone. “My latest three hires have been a theologian, a political scientist and somebody who has their…
How tech will change the way you price risk
April 25, 2019 by Jason ContantInsurance risk categories in the future will become so small they will become very difficult to price properly, a speaker predicted earlier this month at the CIP Society Symposium in Toronto. The number of distinct risk transfer categories appears to…
How sales commissions can result in disputes over vacation pay
April 24, 2019 by Greg MeckbachIf you employ commissioned sales people, how are you calculating their vacation pay? Calculating employees’ vacation pay can be an issue for any company whose sales staff earn both a base salary and commission, Toronto employment lawyer Andrew Monkhouse, managing…
Why moving to the cloud poses a greater security risk
April 24, 2019 by Jason ContantAs businesses increasingly move to the cloud to provide services, their cyber risk is also being greatly heightened, a cyber security professional told Canadian Underwriter recently. Many companies are outsourcing sensitive activities such as human resources or payroll to cloud…
M&A tip: how to avoid acquiring a “data lemon”
April 23, 2019 by Jason ContantInsurance companies or brokerages looking to acquire another company should perform due diligence not just on the financials of the target firm, but also its regulatory vulnerabilities during the M&A process. “The idea is to identify potential data breaches and…
Help your client overcome the stigma of the “breach” word
April 23, 2019 by Greg MeckbachManaging cyber risk effectively means considering the business objectives and setting rules on who can declare a breach has occurred, speakers told insurance professionals at a recent conference. “There is a big connotation as it relates to the word ‘breach,’”…
This aging infrastructure problem could force residents out of homes
April 18, 2019 by Greg MeckbachA substantial number of Ontario residents are at risk of becoming temporarily homeless because they live in old high-rise buildings with critical infrastructure that needs to be replaced, a politician told Canadian Underwriter Wednesday. “Across Toronto and across Ontario we…
Should your clients have a chief security officer on the board?
April 17, 2019 by Greg MeckbachYour client may or may not not need a chief security officer [CSO] on its board of directors, but cyber risk should nevertheless be high on its radar screen, speakers told insurance professionals Tuesday. “If the board doesn’t say, ‘Cyber…
How this dry cleaner got sued over 50-year-old pollution
April 11, 2019 by Greg MeckbachAn Ottawa dry cleaner is liable for nearly $2 million in environmental clean-up costs resulting from spills that occurred at least 45 years ago, as a result of a Supreme Court of Canada ruling released Thursday. The top court’s ruling…
The liability risk from climate change
April 9, 2019 by Greg MeckbachLarge companies face liability risk if they emit greenhouse gas emissions, and shareholders are asking directors and officers what they are doing about climate-related risks, a speaker suggested at a recent insurance conference in Toronto. Panelists at the Property and…
How common are “snooping” privacy breaches?
April 8, 2019 by Jason ContantWhen it comes to privacy breaches in the healthcare sector, “snooping” is definitely a concern. Snooping, or unauthorized access, breaches occur when an employee (such as a hospital worker) has access to identifiable information and abuses their authority to look…