Canadian Underwriter

Keyword
cyber

Businessman buys data from a hacker
News Insurance

In the crosshairs: Why insurance remains a target for cybercriminals

April 27, 2022 by Jason Contant

Cybercriminals are now specifically searching for terms like ‘insurance’ when looking for data, a partner with Norton Rose Fulbright Canada LLP said during an industry event last week. “They’re not just looking for any data. They’re actually quite smarter,” says

Computer security concept
News Insurance

Why multi-factor authentication isn’t the cure-all for your client’s cyber woes

April 21, 2022 by Jason Contant

Staying one step ahead of cybercriminals seems to be a never-ending battle for insurers and insureds, cyber experts said during an industry event Wednesday. “The problem is, as we increase our cyber hygiene and become better insureds, the criminals adapt

Cybersecurity concept - hacker working on a code
News Insurance

Cyberbreach at Rideau Hall was ‘sophisticated’ intrusion, internal documents reveal

April 19, 2022 Jim Bronskill - THE CANADIAN PRESS

OTTAWA – Newly disclosed documents reveal the breach of an internal computer network at Rideau Hall was described to senior government officials as a “sophisticated cyber incident” in the days before the public was told of the security lapse. Internal

Computer with digital padlock
News InsuranceRiskTechnology

What companies prioritize over cybersecurity

April 1, 2022 Philip Porado

Even as instances of cyberattacks grow in North America and worldwide, business leaders in charge of cybersecurity appear to be putting other priorities first, according to a recent study from cybersecurity firm Trend Micro. It found that if push came

Digital fingerprint on computer keyboard.
News Insurance

How insurers and brokers are adapting to cyber-pricing shifts

March 22, 2022 Jason Contant

MGAs and insurers continue to report increased severity and frequency of cyber claims. In fact, in-house data shows cyber claims have been increasing for years, said Lindsey Nelson, cyber development leader at CFC Underwriting. Simultaneously, the take-up of cyber insurance

Internet security concept
News Insurance

Parts of National Research Council website down due to unspecified ‘cyber incident’

March 22, 2022 The Canadian Press

OTTAWA – The National Research Council took down parts of its website after it was hit with a “cyber incident.” A brief statement on the council’s main webpage Monday did not specify what kind of incident occurred or which applications

BOXX Headshot - Phil Baker
News AnnouncementsAppointmentsInsuranceTechnology

Insurtech BOXX Canada names former Beazley chairman as president

February 24, 2022 by David Gambrill

Former Beazley Canada board chairman Phil Baker is now president of global cyber insurtech BOXX Canada. Baker also will be responsible for delivering BOXX’s insurance strategy globally as its global head of insurance. The Toronto-based and privately-held company helps businesses,

Graph representing Canadian economy
News Insurance

Challenging market conditions remain for these two lines in Canada

February 10, 2022 by Jason Contant

Market conditions for cyber and directors’ and officers’ (D&O) lines of business remain challenging in Canada, according to Aon plc’s latest quarterly Global Market Insights Report. Aon’s report for the fourth quarter of 2021, released Wednesday, emphasizes how new forms

Two ice cubes melting on reflected surface
News BrokersInsurance

Hard market shows signs of thawing

February 3, 2022 by David Gambrill

Globally, the P&C insurance market remains on the hard side, but there are signs of melting, based on the results of the latest Global Insurance Market Index released by Marsh. Global commercial insurance prices increased 13% in 2021 Q4, continuing

ransomware on computer screen
News Insurance

Ransomware claims: behind the scenes

January 27, 2022 Ashley Burdon

Sadly, many of your clients will have fallen victim to cybercrime over the past couple of years – their data held hostage, systems suspended, or payments redirected by some faceless criminal halfway around the world. Worse, despite the clear benefit

News Insurance

Using your personal device for work? Why that matters to cyber insurers

January 10, 2022 by Jason Contant

Insurers need to consider the hybrid workforce and employees using personal devices when reviewing a cyber risk, a managing general agent says. “Multi-factor authentication is critical as… employees access work email and networks remotely, sometimes even through a web application

News Insurance

Is cyber insurable?

January 7, 2022 Greg Meckbach

Cyber exposure is a bit of a moving target, and efforts to quantify the risk are challenging some of the underwriters in the business. “Cyber is fairly unique in that you are playing against a human adversary,” said Tim Zeilman,