Keyword
crime
4th Top Story of 2020: Police charge man for murder in death of a Canadian P&C insurance executive
October 9, 2020 by David GambrillPeel Regional Police are investigating a domestic homicide near Toronto, after finding a woman who is believed to be a Canadian senior insurance executive pronounced dead at the scene. Police say they received a call for a disturbance in the…
Fraudsters exposed in COVID-19
August 6, 2020 Ephraim Stulberg, Partner, MDD Forensic AccountantsHere’s where, and why, insurers see more fraud claims being uncovered
“Throw-in” crime coverage: A judge’s cautionary advice to brokers
January 3, 2020 by David GambrillA recent Alberta Court of Queen’s Bench decision warns brokers not to overlook advising their clients on “throw-in” crime coverages in pre-set commercial insurance policies. The court concluded that crime coverage is “core” to a commercial insurance policy — even…
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.…
How fear of ‘jackbooted brownshirts’ complicates cyber risk management
May 11, 2018 by Greg MeckbachManaging the risk posed by the “dark web” is made all the more difficult by some people’s mistrust of police, a former top Royal Canadian Mounted Police officer suggested Thursday. “Cyber crime requires a different approach than just the preventative…
To cover or not to cover crime on a cyber policy
April 19, 2018 by Jason ContantDo elements of cybercrime, such as social engineering fraud and phishing scams, belong on a traditional crime insurance policy or should they be part of a cyber policy? The answer to that question depends on which carrier you ask. “There’s…
Are your clients covered for social engineering fraud?
November 27, 2017 Greg Meckbach, Associate EditorBrokers should not assume that a client who has bought a cyber or crime policy is covered for the risk of innocent employees who are duped into making fraudulent money transfers. ‘Social engineering fraud’ is a broad term describing scams…
Charting the Course
September 13, 2017 Fred Eslami, Senior Financial Analyst, A.M. Best CompanyCyber insurance seems like it is poised to go it alone. Growth of the line — currently in the United States and perhaps in future in Canada — is taking shape as a stand-alone offering. What are the benefits of such a move?
Held to Ransom
September 1, 2017 Graeme Newman, Chief Innovation Officer, CFC UnderwritingRansomware is not new, but attacks are transforming in step with changing motivations. Businesses are advised to have in place precautions to thwart attacks when possible, complemented by cyber insurance should attackers manage to break through.
ENCON Group announces standalone cyber policy for Canadian companies
June 16, 2017 by Canadian UnderwriterCanadian managing general agent (MGA) ENCON Group Inc. announced on Thursday the introduction of a standalone cyber insurance policy that provides coverage for network business interruption, ecommerce trading exposure, crime and intellectual property risks. Ottawa-based ENCON Group said in a…
Coverage for Social Engineering Fraud Takes its Place Among the Required Coverage for Canadian Business
January 23, 2017 David S. Wilson, partner; Chris McKibbin, partner; and Zack Garcia, associate, Fidelity Practice Group, Blaney McMurtry LLPStandard crime insurance policies are not intended to cover social engineering fraud
Chubb introduces insurance product for private Canadian companies
July 18, 2016 by Canadian UnderwriterChubb Ltd. announced on Monday that it has launched a modular insurance policy designed specifically for Canadian privately owned companies. ForeFront Portfolio addresses the broad range of liability risks faced by Canadian private companies in an increasingly risky and litigious…