Topic Risk Managers
What workers need to learn about cyber security
December 10, 2018 by Joyce M. Rosenberg - THE ASSOCIATED PRESSNEW YORK – It may seem obvious: Companies’ computers, mobile devices and accounts need secure passwords. But many small business owners don’t take the time to educate staffers about these very basic forms of cybersecurity. And staffers may not know…
How to grow in an era of new, intangible business risks
December 6, 2018 by David GambrillAs business risks become more global, interconnected and less tangible, brokers and insurers should expand their dialogue with clients about loss mitigation or loss prevention, the chief executive of CNA Canada says. “An insurance policy today isn’t really enough,” CNA…
Canadians among 500 million potentially affected by data breach
December 6, 2018 by Jason ContantTORONTO – Canadians have started receiving emails from Marriott International, informing them of a recent breach of customers’ personal data held by their Starwood hotel properties. The U.S.-based hotel giant, which is also behind brands including W Hotels, St. Regis,…
Data breach risk prompts new Ontario legislation
November 30, 2018 by Greg MeckbachRecent backlashes against Statistics Canada and Facebook have prompted Ontario lawmakers to make it harder to share consumer banking information. “Financial data is especially vulnerable to hacking,” Stephen Crawford, Ontario MPP for Oakville, said Thursday at Queen’s Park in Toronto.…
The single most important factor to successful AI adoption
November 24, 2018 by Jason ContantThe key to rebranding as an artificial intelligence (AI) company is tapping into an “ultra-specialized talent pool” with a deep understanding of the field, says the chief science officer at Royal Bank of Canada. “It’s impossible to overstate the importance…
Is your client properly insured for computer crime?
November 22, 2018 by Greg MeckbachBrokers placing commercial insurance for the risk of theft should pay close attention to exclusions. Exclusions on some policies covering crime losses for financial institutions may be leaving a gap in cover computer crime, a new paper from Marsh Inc.…
Exclusive partnership will extend MGA’s cyber offerings
November 21, 2018 by Jason ContantManaging general agent Burns & Wilcox has announced an exclusive partnership with a cybersecurity company to pair its specialty insurance products with data breach monitoring and notification services. The partnership with London, UK-based BreachAware, which specializes in data breach research…
How fraudsters can dupe even tech-savvy risk analysts
November 20, 2018 by Jason ContantThink it’s just your clients that can get tricked into revealing personally identifiable information (PII)? Not always. A recent experiment has shown that even tech-savvy individuals are willing to provide PII without due diligence. A Vancouver-based global identity and business…
The Top 3 risk concerns for Canadian executives
November 19, 2018 by Jason ContantBusiness executives in Canada and the United States say economic risk (21%) is their primary concern, followed closely by cyber risk (20%) and technology risk (16%). CNA Hardy released its first global Risk and Confidence Survey Monday. While over two-thirds…
Insurers weigh in on how automated vehicles should be covered
November 15, 2018 by Jason ContantThe Insurance Bureau of Canada (IBC) has recommended a single insurance policy to cover driver negligence and automated technology to facilitate liability claims associated with autonomous vehicles. “The automated vehicle’s insurer would compensate injured people if the automated vehicle caused…
Breach notification law calls for some ‘major adjustments’
November 13, 2018 by Greg MeckbachThe Canada-wide data breach law, which has been in effect for two weeks, is pushing businesses manage cyber risk more effectively, a computer security expert says. The federal Digital Privacy Act makes it mandatory for clients to disclose data breaches…
The Top 5 risks cited by Canadian executives
November 12, 2018 by Jason ContantFor the second year in a row, risks from cyberattacks is the top concern that executives in Canada have identified as the most dangerous for their business, according to a report published Monday by the World Economic Forum (WEF). In…