Canadian Underwriter

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cyber

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How Marsh sees the broker role evolving around cyber insurance

December 11, 2019 by Jason Contant

Brokers are finding they have to educate themselves more on the legal and technical side of cyber rather than on the cyber insurance policy itself, a speaker said recently at Insurance Bureau of Canada’s Commercial Insurance Symposium. “What we’ve noticed

News InsuranceTechnology

The home insurance coverage your clients don’t know about

November 27, 2019 by Greg Meckbach

Most home insurance clients don’t know they could be covered for identity theft, Top Broker Summit attendees heard Monday. “On the personal lines side, there have been a number of companies in Canada that have offered identity theft coverage for

News Insurance

What industries are being hit harder than others in this market?

November 20, 2019 by Adam Malik

Being a commercial broker in today’s environment is presenting unique challenges as some markets are feeling the effects of a difficult cycle more than others, says one broking leader. The current market isn’t a hard one in a traditional sense,

News Legislation / Regulation

Bank of Canada official urges re-think of cyber regulations

November 14, 2019 David Paddon - THE CANADIAN PRESS

TORONTO – Government bodies and the private sector need more ways to share information about cybersecurity threats, and that may require new regulations or legislation, a Bank of Canada official said Tuesday. Filipe Dinis, the central bank’s chief operating officer,

News InsuranceMarkets / CoveragesRisk

How to explore the forgotten realm of personal cyber coverage

October 9, 2019 by Jason Contant

Trying to think of a new way to broach that cyber insurance discussion with your clients? Why not highlight identity theft and fraud coverage for your personal lines clients, suggests a new research paper from the Insurance Institute of Canada.

News Insurance

Payouts from insurance policies may fuel ransomware attacks

September 20, 2019 Kathleen Foody - THE ASSOCIATED PRESS

CHICAGO – The call came on a Saturday in July delivering grim news: Many of the computer systems serving the government of LaPorte County, Indiana, had been taken hostage with ransomware. The hackers demanded $250,000. No way, thought County Commission

News LegalRiskTechnology

Scheer promises to create ‘Canada Cyber Safe’ certification for digital

September 9, 2019 Giuseppe Valiante - THE CANADIAN PRESS

MONTREAL – Conservative party Leader Andrew Scheer is trying to reassure Canadians that if elected, his government would better protect their personal information following recent high-profile security breaches at major corporations that compromised the data of millions of Canadians. A

News InsuranceMarkets / Coverages

Three reasons why healthcare is often the target of cyberattacks

August 21, 2019 by Jason Contant

If your client works in the healthcare industry in Canada, they likely know they are an attractive target for cybercriminals. But new research from global cybersecurity company Kaspersky sheds light on some of the reasons why. The study of more

News InsuranceTechnology

One easy way for underwriters to find out if their clients’ data has already been breached

August 15, 2019 by Jason Contant

Underwriters can better price cyber insurance if they have a clear understanding of that user’s real risk of being breached. To do that, it’s essential to understand when a user’s email and password combination has been exposed in a previous

News Insurance

New laws needed to assign cyber fraud liability: Court

August 13, 2019 Colin Perkel - THE CANADIAN PRESS

TORONTO – A deputy judge is calling for passage of clear laws on which innocent party should bear responsibility for financial losses related to cyberfraud. In calling for legislation, Ontario Deputy Judge Shane Kelford said it’s clear the law has

Feature Technology

Holding taxpayers at ransom

August 6, 2019 James Steele, Lawyer, Robertson Stromberg LLP

How cybercriminals are stealing municipal data – and how to prevent it

News Insurance

How it happened: Capital One’s $100-million cyber loss

July 30, 2019 by Greg Meckbach

Credit card issuer Capital One Financial Corp. expects that a massive cyber breach affecting millions of Canadians could cost the firm more than $100 million. “Expected costs are largely driven by customer notifications, credit monitoring, technology costs, and legal support,”