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How COVID-19 has changed cyber underwriting

October 19, 2020 by Greg Meckbach

With loss ratios in the Canadian cyber insurance market skyrocketing, purchasing cyber without having to answer a whole bunch of questions may become a thing of the past. In the recent past, if a client was not very large, or

News Insurance

One COVID cyber threat you may not have considered

September 22, 2020 by Jason Contant

Cyber exposure for your clients has shifted from the obvious operational standpoint of remote working during the COVID-19 pandemic to a data retention standpoint, a Gallagher executive said recently. “Many organizations are collecting personal health information on employees, maybe on

News Insurance

Ministers warn COVID-19 researchers anew of threat of hostile actors

September 15, 2020 The Canadian Press

OTTAWA – A trio of federal cabinet ministers is warning COVID-19 researchers to take additional precautions to protect their efforts from thieves and vandals. The statement Monday says the federal government is concerned about “hostile actors” targeting pandemic-related research in

News ClaimsInsuranceRiskTechnology

Regulators to brokers: What is your cyber security plan?

May 11, 2020 by Greg Meckbach

What programs – if any – does your brokerage have in place to mitigate your own cyber risk? This is what your provincial regulator could be asking you, if they haven’t already. “If the Registered Insurance Brokers of Ontario knocks

News InsuranceTechnology

The ‘hidden’ cyber risks of remote work

May 1, 2020 by Greg Meckbach

Commercial clients are vulnerable to hidden risks when they have large numbers of people suddenly working remotely or from home in a disaster, as we are seeing in the pandemic, experts told brokers listening in to Canadian Underwriter’s latest webinar.

News BrokersInsuranceMarkets / CoveragesTechnology

How to protect your clients from cybercriminals cashing in on COVID-19

April 8, 2020 by Jason Contant

Brokers advising clients on cyber insurance during the COVID-19 pandemic will want to make sure there is an appropriate loss of income coverage under the policy, similar to other lines of insurance, a specialist insurer said recently. “If we were

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How cybercriminals are targetting employees working from home

March 19, 2020 David Paddon - THE CANADIAN PRESS

TORONTO – Cybersecurity experts are renewing their warnings that the COVID-19 crisis is a huge opportunity for criminals to take advantage of confusion as people are forced to work away from the office. A U.S. security firm says at least

News Technology

How high-tech venture capital funding leads to better cyber insurance pricing

March 4, 2020 by Greg Meckbach

Recent advances in cybersecurity, driven in part by a spike in venture capital funding, are helping insurers price cyber more accurately, an insurance industry consultant suggests. “There is a huge advancement around the use of artificial intelligence and advanced analytics

News BrokersCommercial LinesInsuranceLegalMarkets / CoveragesTechnology

How to negotiate the nuanced world of email fraud coverage

March 3, 2020 by Jason Contant

Your commercial client may think they are covered for all types of business email compromise (BEC) fraud automatically, but policy triggers are often nuanced, a speaker said recently at NetDiligence’s Cyber Risk Summit in Toronto. “The biggest misconception of our

Feature RiskTechnology

The future of cyber

March 2, 2020 Greg Meckbach, Associate Editor

Nathan Rose, a senior underwriter with Burns & Wilcox, shares how emerging trends in cyber will lead to untapped business opportunities.

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Should you outsource your response to silent cyber?

February 28, 2020 by Jason Contant

Some insurers are specifically allocating internal resources to address silent cyber, while others are outsourcing it, speakers noted recently at NetDiligence’s Cyber Risk Summit in Toronto Feb. 21. Melinda Parker Thompson, an underwriting specialist with Allianz Global Corporate & Specialty

News BrokersCommercial LinesInsuranceMarkets / CoveragesTechnology

How easy is it for brokers to get terms in the cyber market?

February 27, 2020 by Jason Contant

Capacity is still readily available to cover cyber risks, but more insurers are approaching the coverage cautiously, a speaker said Friday at NetDiligence’s Cyber Risk Summit in Toronto. In terms of procedure, clients’ applications for cyber coverage must clear more