Keyword
cyber
2018 Outlook: David Levinson, President, Chief Agent, Zurich Canada
December 29, 2017 David LevinsonAs 2018 begins, capital remains at the forefront in Canada. An active hurricane season in the United States will cause insurance carriers to look at their own exposures here in Canada, including earthquakes, fires, and floods. This may cause property…
Keeping Pace
December 20, 2017 Jason Contant, Online Editor; and Angela Stelmakowich, EditorChanges to Canada’s property and casualty insurance industry continue to keep industry players on their toes. Be it traditional matters like catastrophe losses, or emerging trends and risks for which little history is available, professionals must remain alert to how many risks can develop and how quickly they can transform.
Uber privacy breach could affect 815,000 Canadians
December 12, 2017 Ian Bickis - THE CANADIAN PRESSCALGARY – Uber Canada said late Monday that 815,000 Canadian riders and drivers may have been affected as part of its worldwide data breach announced in November. The disclosure came the same day the federal privacy commissioner said it had…
Are your clients covered for social engineering fraud?
November 27, 2017 Greg Meckbach, Associate EditorBrokers should not assume that a client who has bought a cyber or crime policy is covered for the risk of innocent employees who are duped into making fraudulent money transfers. ‘Social engineering fraud’ is a broad term describing scams…
A broker’s guide to cyber insurance
November 23, 2017 Jason Contant, Online EditorGiven the “fairly fluid coverage situation” in the cyber insurance market, it’s imperative for brokers to educate themselves about the array of available cyber products to establish the right limits of cover for their clients. “I think brokers struggle with…
Cryptojacking: the latest cyber risk
November 21, 2017 Aleksandra Sagan - THE CANADIAN PRESSVANCOUVER – Anyone casually surfing the internet at home can be deployed as an unwittingly productive member of a hacker’s workforce, a practice known as “cryptojacking” that is on the rise. Internet sleuths have discovered malicious code on the websites…
New policy designed to simplify cyber risk management
November 14, 2017 by Canadian UnderwriterBerkshire Hathaway Specialty Insurance (BHSI) has launched a cyber insurance product in Canada that combines cyber liability and breach response coverage with risk management resources for commercial enterprises and financial institutions. “Our new policy simplifies the complex endeavour of managing…
Cyber influence on insurer ratings mostly gradual: Fitch
November 13, 2017 by Canadian UnderwriterThe influence of cyber risk on insurer ratings is likely to be gradual, Fitch Ratings has reported. Cyber insurance represents a relatively small percentage of insurers’ business and insurers are taking a cautious approach to growing coverage, given the uncertainty…
CFC launches revamped proposition for tech companies worldwide
October 24, 2017 by Canadian UnderwriterLondon-based CFC Underwriting is looking to beef up protection against the emerging risks that technology companies around the world face with the launch of a revamped insurance proposition. “The risks faced by tech businesses are changing as rapidly as technology…
Compromised Data
October 24, 2017 Antoine St-Germain, Partner, Gasco Goodhue St-Germain LLPA Quebec court recently ruled that obtaining credit reports and replacing accounts are potentially matters for which plaintiffs could be entitled to compensation in a class-action lawsuit arising from a breach of a retailer’s payment card data.
Burns & Wilcox Canada, Node International enter exclusive agreement for cyber liability insurance
October 24, 2017 by Canadian UnderwriterBurns & Wilcox Canada has entered into an exclusive agreement with Node International to distribute comprehensive cyber liability insurance, a move the former characterizes as “fusing cyber security tactics and insurance like never before.” The agreement means the managing general…
Average cyber breach costs US$394,000, higher in financial services sector: NetDiligence
October 12, 2017 by Canadian UnderwriterThe aggregated average total breach cost of a cyber event is US$394,000, with an average claim for a large company of US$3.2 million, a new report from NetDiligence has found. NetDiligence, a provider of cyber risk readiness and response services,…