Canadian Underwriter

Keyword
cyber


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

News BrokersMarkets / Coverages

Top cyber concerns for Canadian business leaders

February 26, 2020 by Jason Contant

Business leaders in Canada are concerned about cyber extortion and social engineering fraud, such as business email compromise (BEC) and email account compromise (EAC), Aon reported. “The last year has seen a tremendous increase in cyber-related claims in Canada,” said

News ClaimsInsuranceLegal

How Canada’s mandatory breach notification has affected the P&C industry

February 24, 2020 by Jason Contant

Canada’s new mandatory breach notification requirements have increased the number of reported claims, leading to a re-shuffling of claims costs for insurers, according to a privacy lawyer. “It definitely leads to more claims and it makes its presence [known] in

News ClaimsCommercial LinesInsurance

Cyber insurance: another victim of the hard market?

February 20, 2020 by Jason Contant

Rates for excess cyber insurance in Canada are on the rise. “In Canada, I would say what we are seeing is excess cyber insurers increasing rates,” Brian Rosenbaum, national director of the legal and research practice at Aon Risk Solutions,

News Risk

This is how serious feds take suspected breaches on cabinet ministers

February 12, 2020 Jim Bronskill - THE CANADIAN PRESS

OTTAWA – Federal cabinet ministers now have their own special hotline to report suspected hacking incidents. Officials at the Canadian Centre for Cyber Security set up the round-the-clock telephone service last year to respond swiftly to possible security breaches, newly

News InsuranceTechnology

These electronic devices might not be designed with cyber security in mind

February 4, 2020 by Greg Meckbach

Ransomware and privacy breaches may be among the top cyber threats on your radar, but are you aware of all of the connected manufacturing and other industrial control systems that may be at risk, a commercial insurer warns. “These production

Feature RiskTechnology

How to sell cyber

February 2, 2020 Jason Contant, Online Editor

James Burns, cyber product leader with CFC Underwriting, shares his insights on what the industry needs to do to sell more cyber insurance policies. cu | How do successful brokers sell cyber insurance? They make cyber products relevant to the

News InsuranceRiskTechnology

Could a politician’s tweet void your cyber coverage?

January 31, 2020 by Greg Meckbach

If you are placing commercial cyber coverage, pay attention to what the various insurers’ policies say about war and terrorism, a commercial broker advises. “I would not say it’s an obscure little corner of your insurance policy,” Tom Srail, executive

News InsuranceRiskTechnology

Is the ‘awesome time’ for cyber clients coming to an end?

January 30, 2020 by Greg Meckbach

Risk managers accustomed to a buyer’s market for commercial cyber insurance might discover soon the party is over. “We are starting to see rates harden,” Lindsey Nelson, U.K. and International Cyber Team Leader for CFC Underwriting, said Thursday. She was

News InsuranceMarkets / CoveragesProductsTechnology

How insurers will make their cyber products better in the future

January 23, 2020 by Jason Contant

Cyber insurers need to get a firmer handle on cyber claims response to be able to add value to their policies, a specialist insurer said recently. James Burns, cyber product leader with London, U.K.-based CFC Underwriting, said that the industry

News ClaimsCommercial LinesInsuranceReinsurance

Why even cyber policies might not cover cyber losses

December 13, 2019 by Jason Contant

Policies that don’t specifically include or exclude cyber losses (“silent cyber”) have long been a concern of insurers, but you’d think a data breach loss would be covered by a cyber policy, right? Not always. The devil is sometimes in

News BrokersCommercial LinesProfessional DevelopmentTechnology

How Marsh sees the broker role evolving around cyber insurance

December 11, 2019 by Jason Contant

Brokers are finding they have to educate themselves more on the legal and technical side of cyber rather than on the cyber insurance policy itself, a speaker said recently at Insurance Bureau of Canada’s Commercial Insurance Symposium. “What we’ve noticed