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The real reason for spike in cyber claims

June 17, 2019 by Greg Meckbach

The number of reported cyber claims has jumped significantly, but it’s not because of the major breaches you’ve been reading in the headlines. Small to mid-sized organizations are at greater risk of cyber losses than large organizations, A.M. Best Company

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How this cyber breach defendant got a six-figure cost award

June 13, 2019 by Greg Meckbach

Defendants who won a class-action lawsuit were recently awarded $166,000 to reimburse them for legal costs, but the plaintiffs are appealing. Casino Rama, located near Orillia, Ont. was the target of a cyber breach in 2016 by an unknown criminal.

News ClaimsLegalTechnology

Nova Scotia Health Authority investigating possible privacy breach

June 10, 2019 THE CANADIAN PRESS

HALIFAX – The personal health information of nearly 3,000 people may have been compromised in a phishing attack, the Nova Scotia Health Authority says. The health authority said Monday that it is investigating a “potential” privacy breach affecting 2,841 patients.

News RiskTechnology

Cyber hacking: customized for Canada

May 27, 2019 by Jason Contant

Brokers advising their clients on cyber security will want to take note of new research that identified nearly 100 malicious email campaigns that were specifically targeted at Canadian organizations or were customized for Canadian audiences. “Much of this is due

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New cyber insurance platform offers quotes using single piece of data

May 23, 2019 by Jason Contant

While online quote and bind systems have historically been cumbersome, one specialist insurer will soon offer a cyber insurance platform with single-question quoting capabilities. Using a single piece of client data, brokers will be able generate a cyber insurance quote

News InsuranceTechnology

Huawei a small part of an ‘insurmountably hard problem’ of cybersecurity

May 22, 2019 by Greg Meckbach

The controversy over telecommunications equipment from Chinese manufacturer Huawei is just the tip of a large cyber risk iceberg, an Internet security expert warns. “The question is, should we trust the country in which the company whose products and services

News InsuranceMarkets / CoveragesTechnology

Why rewards programs are a new cyber threat

May 21, 2019 by Jason Contant

If your client offers loyalty and rewards programs, they may want to keep a closer eye on securing these “non-traditional risk points” from cyber criminals. Earlier this year, several McDonald’s customers in Canada complained that criminals had breached their accounts

Feature

Cyber Breakthrough

May 10, 2019 David Gambrill, Editor-in-Chief

Sales approach is everything when it comes to making the most out of cyber

News RiskTechnology

Loblaws cyber risk manager weighs in on cloud computing security

May 3, 2019 by Greg Meckbach

While cloud computing can introduce a whole new level of cyber risk, it can also help bolster a client’s information security, the cyber risk manager for one of Canada’s largest retailers suggests. “I will say without any hesitation, as I

News InsuranceTechnology

Why it’s hard for insurers to price cyber risk

May 1, 2019 by Greg Meckbach

It’s hard for an insurance company to price cyber because clients are reluctant to report losses, industry experts suggest. “You need historical incidents to understand the types of events out there,” Scott Stransky, assistant vice president and principal scientist in

News InsuranceMarkets / CoveragesRisk

Tips for your cyber clients on creating stronger passwords

May 1, 2019 by Jason Contant

Brokers advising their clients on cyber security should inform them that re-using passwords – or using passwords in the first place – is not the best practice. “Passwords still have their use, but not as a way to uniquely verify

News InsuranceMarkets / CoveragesRiskTechnology

The top threat facing Canadian businesses

April 29, 2019 by Jason Contant

Cyber attacks and data breaches are the Number 1 threat to businesses in North America, according to Aon plc’s newly released 2019 Global Risk Management Survey. Aon surveys thousands of risk managers across 60 countries and 33 industries every two