Canadian Underwriter

Keyword
cyber

News Insurance

How much ransom demands are increasing for your cyber clients

July 27, 2021 by Jason Contant

Average ransom demands have increased nearly threefold and smaller companies are experiencing more cyberattacks, according to the results of Coalition Inc.’s latest cyber insurance claims report. From the first half of 2020 to H1 2021, the average ransom demand made

Cyberattack
News Insurance

How the cyber threat landscape is evolving

July 16, 2021 by Jason Contant

Cyberattacks used to traditionally target specific industry sectors like healthcare, but one cyber insurance writer is now seeing a wide range of sectors in the line of fire. “When you look at our 2020 stats, we see a big difference

News RiskTechnology

How your commercial clients should be monitoring their cyber risk

July 9, 2021 by Greg Meckbach

With a large number of employees working from home during the pandemic, commercial clients need some way of assigning a risk score to the cyber exposure posed by their users, software applications, and hardware devices, a Canadian information technology security

News Insurance

Cyber insurance experts debunk conspiracy theories

May 26, 2021 by Adam Malik

One cybercriminal recently mused online that hackers are incentivized to launch cyberattacks because companies have cyber insurance coverage, a theory recently debunked by cyber insurance experts. The cybercriminal’s rationale? Since insurance exists for the victims, the hackers will be paid.

News RiskTechnology

Small business clients are making these cyber security errors

April 16, 2021 by Greg Meckbach

Failure to install patch updates, relying too much on passwords, and failure to train employees are three sources of cyber security losses all too common among small business clients, a technology vendor suggests. One of the most common cyber security

News Insurance

Cautionary tale for brokers when payment time quickens

April 12, 2021 by Adam Malik

Since insurance brokers act as intermediaries between client and insurer, the risk of them falling victim to fraud increases as payment turnaround time decreases, says a cyber insurance expert. In fact, brokers “regularly top our list of industries that are

News Earnings / RatingsInsurance

OSFI results: The good, the bad, and the ugly for Canada’s P&C industry

March 25, 2021 by David Gambrill

COVID-19 last year might have been the end of the world as we know it, to riff on a song by R.E.M., but Canada’s P&C insurance industry is doing fine — financially, at least. After a full year of the

News Insurance

Watchdog says some Microsoft Exchange servers in Canada affected by security gap

March 17, 2021 David Paddon - THE CANADIAN PRESS

TORONTO – Canada’s main cybersecurity watchdog has issued another warning that organizations of all sizes need to protect themselves from a recently discovered vulnerability in Microsoft Exchange email servers. The Canadian Centre for Cyber Security said it has received reports

News Insurance

Going phishing with COVID as the lure: How many Canadians rose to the bait

March 9, 2021 by Jason Contant

Canadian cyber insurers take note: Canada ranked within the Top 20 countries for COVID-themed cyber threat detections last year, according to cybersecurity company Trend Micro. Globally, Trend Micro detected nearly 16.4-million cyber threats over the course of 2020, including malicious

News Insurance

Hackers don’t care about your client’s data. Here’s what they really care about…

March 8, 2021 by Jason Contant

Businesses falling victim to cyberattacks often don’t realize that the value of data they store is not what’s important to hackers, it’s the value of the data to the company, Crawford & Company (Canada) said in a recent whitepaper. “It

News Insurance

Two emerging trends in D&O liability

March 2, 2021 by Jason Contant

Cyber claims morphing into directors’ and officers’ liability and the increased sophistication of the plaintiff bar in Canada are two emerging trends in D&O lines, HDI Global Specialty SE – Canada told Canadian Underwriter recently. Oren Schemool, head of financial

News Insurance

Complaints spike as taxpayers’ watchdog to review CRA handling of locked accounts

February 26, 2021 Jordan Press - THE CANADIAN PRESS

OTTAWA – The federal taxpayers’ watchdog says complaints to his office spiked in the hours after he went public with concerns about how the Canada Revenue Agency locked users out of their online accounts. The accounts were locked just over