Keyword
cyber insurance
Brokers should look for these three things in a cyber insurance policy
December 16, 2019 by Jason ContantCyber insurance policies still tend to be confusing for brokers, but there are three areas that they should focus on, recommends Nathan Rose, senior underwriter and business development specialist with Burns & Wilcox Canada. This includes: 1) policies that have…
Why brokers need to change cyber talking points for each client
December 6, 2019 by Jason ContantBrokers need to focus their cyber insurance selling efforts on more than just traditional privacy risks and tailor them to specific industries, a specialist insurer said Wednesday. “Cyber is about way more than just privacy and if you explain to…
So when is the P&C industry going to make real money in cyber?
November 28, 2019 by David GambrillThere’s a huge opportunity for Canadian brokers during this hard market and it’s hidden in plain sight — cyber insurance. Cyber protection has been a dominant fixture in industry discussions for the past several years. The product has evolved considerably,…
Brokers leaving a lot of SME cyber business on the table: Leger poll
September 27, 2019 by Jason ContantBrokers need to do a better job of securing cyber insurance coverage for their small and medium-sized business (SME) clients, the results of a new nationwide poll conducted by Leger show. “In the last three years, has your insurance professional…
Should cyber insurance products become more standardized?
June 10, 2019 by Jason ContantHow far along is the Canadian insurance industry in terms of cyber product standardization? While some of the standard language for base coverage has become more standardized over the years, there is still an overall general lack of standardization. There…
Hacked Ontario town recently purchased cyber insurance
September 14, 2018 The Canadian PressPolice in Ontario are warning municipalities about a rash of cyberattacks targeting local governments in which hackers demand a ransom in exchange for access to systems. Ontario Provincial Police did not provide firm numbers on the ransomware incidents but say…
Look to utilities, retailers for cyber sales opportunities, suggests new survey
August 22, 2018 by Jason ContantIf you’re looking to sell cyber coverage to big business, focus your efforts on utilities and retailers, suggest the results of a recent survey. The survey of companies with 500 or more employees also found that a growing number of…
Two lesser-known risks in the restaurant industry
July 26, 2018 by Jason ContantBesides the obvious liquor liability risk in the restaurant and bar sector, risk managers should also pay attention to cyber and sexual harassment risks, says a broker with Holmes Murphy who specializes in the area. Over the past few years,…
How fast are standalone cyber premiums growing in Canada?
June 11, 2018 by Jason ContantStandalone cyber insurance premiums in Canada are expected to be worth about $68 million in 2020, an increase at a compound annual growth rate of 15.8% relative to the 2016 estimate, Finaccord said Monday. Alan Leach, director of the London,…
Privacy Commissioner gives brokers more ammunition to sell cyber policies
June 6, 2018 by Jason ContantCanada’s privacy commissioner is looking to add some bite to the country’s federal privacy laws. And if you need another reason to keep cyber insurance top of mind for your clients, look no further than a recent survey from the…
Cyber response should not involve ‘running around panicking’
April 23, 2018 by Greg MeckbachClients buying cyber insurance can only be prepared for the risk of a computer security breach if senior executives practice beforehand, a commercial insurer executive told Canadian Underwriter Friday. Corporate clients need to hold “table top exercises,” meaning they gather…
How to give your client a ‘wake-up call’ on cyber risk
April 14, 2018 by Greg MeckbachCyber insurance application forms can give companies a “good understanding” of how well prepared they are to deal with an information security-related loss, speakers said Thursday at the International Cyber Risk Management Conference in Toronto. “We have seen clients stop…