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cyber

News InsuranceRiskTechnology

How your client’s directors could be blamed for cyber losses

February 14, 2019 by Greg Meckbach

Cyber risk awareness is on the rise among corporate directors, who could face liability risk if they are accused of being lax on governance. “Corporate clients are more likely to be aware today, compared to a few years ago, of

News InsuranceLegislation / RegulationTechnology

OSFI provides guidance on reporting cyber incidents

February 12, 2019 by Jason Contant

Months after Canada’s mandatory data breach notification law came into effect on Nov. 1, 2018, the Office of the Superintendent of Financial Institutions (OSFI) is now providing guidance on when to report cyber incidents to the financial regulator. In an

News InsuranceMarkets / CoveragesTechnology

One way of devaluing cyber attacks

February 1, 2019 by Jason Contant

Financial institutions looking to verify online users should use “security layers” to help devalue attacks to extract data from legitimate consumers, a Vancouver-based security company recommends. For insurers and banks, security layers with behavioural analytics and passive biometrics can allow

News ClaimsCommercial LinesInsurance

Why the cyber market has become so crowded

January 31, 2019 by Greg Meckbach

Clients shopping for cyber insurance today can choose from among far more carriers than they could a few years ago, because it’s such a profitable line of business. However, one reason cyber is more profitable than other lines of coverage

News Legislation / RegulationRiskTechnology

This province lacks ‘reasonable’ cyber security: privacy commissioner

January 15, 2019 Keith Doucette - THE CANADIAN PRESS

HALIFAX – A pair of reports slam the Nova Scotia government for failing to protect personal information, saying the risk management around its freedom-of-information website was inadequate and a privacy breach last year was preventable. In his report released Tuesday

News InsuranceRiskTechnology

How not to deal with a ransomware attack

December 19, 2018 by Greg Meckbach

Your client should never have to negotiate with a cyber criminal even if that client has suffered a ransomware attack, cyber security experts advise. Ransomware is a type of computer malware that prevents clients from either using their computers or

News RiskTechnology

Not all Ontario schools follow this cyber security rule

December 14, 2018 by Greg Meckbach

Some former school board employees can still look at children’s records – including address and date of birth – over the Internet because their access to this system has not been revoked, the Auditor General of Ontario suggested in a

Ontario legislature at Queen's Park in Toronto, Ontario government
News Legislation / RegulationRiskTechnology

Cyber risk concerns behind this consumer protection law

December 11, 2018 by Greg Meckbach

Identity theft risk increases when banks release customer information to government agencies doing research, an Ontario politician suggests. “The more information flows around, the more likely there is to be a hacking. It’s just like the more you are driving

News Insurance

How Canada’s largest banks manage cyber risk

November 23, 2018 Armina Ligaya - THE CANADIAN PRESS

TORONTO – Hackers are targeting Toronto-Dominion Bank’s internal systems at all hours using cutting-edge techniques, but the bank’s head of cybersecurity isn’t losing sleep over them – they work for him, after all. The bank established late last year an

News InsuranceRisk

Is your client properly insured for computer crime?

November 22, 2018 by Greg Meckbach

Brokers 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.

News InsuranceRiskTechnology

Breach notification law calls for some ‘major adjustments’

November 13, 2018 by Greg Meckbach

The 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

News RiskTechnology

Why cyber criminals may be targetting this Canadian bank

November 8, 2018 Armina Ligaya - THE CANADIAN PRESS

TORONTO – The Canadian Imperial Bank of Commerce is one of the most commonly targeted brands used by cyberthieves in phishing attacks across North America, with a more than 600 per cent surge in fake email attempts in the third