Keyword
cyber
The home insurance coverage your clients don’t know about
November 27, 2019 by Greg MeckbachMost home insurance clients don’t know they could be covered for identity theft, Top Broker Summit attendees heard Monday. “On the personal lines side, there have been a number of companies in Canada that have offered identity theft coverage for…
What industries are being hit harder than others in this market?
November 20, 2019 by Adam MalikBeing a commercial broker in today’s environment is presenting unique challenges as some markets are feeling the effects of a difficult cycle more than others, says one broking leader. The current market isn’t a hard one in a traditional sense,…
Bank of Canada official urges re-think of cyber regulations
November 14, 2019 David Paddon - THE CANADIAN PRESSTORONTO – Government bodies and the private sector need more ways to share information about cybersecurity threats, and that may require new regulations or legislation, a Bank of Canada official said Tuesday. Filipe Dinis, the central bank’s chief operating officer,…
How to explore the forgotten realm of personal cyber coverage
October 9, 2019 by Jason ContantTrying to think of a new way to broach that cyber insurance discussion with your clients? Why not highlight identity theft and fraud coverage for your personal lines clients, suggests a new research paper from the Insurance Institute of Canada.…
Payouts from insurance policies may fuel ransomware attacks
September 20, 2019 Kathleen Foody - THE ASSOCIATED PRESSCHICAGO – The call came on a Saturday in July delivering grim news: Many of the computer systems serving the government of LaPorte County, Indiana, had been taken hostage with ransomware. The hackers demanded $250,000. No way, thought County Commission…
Scheer promises to create ‘Canada Cyber Safe’ certification for digital
September 9, 2019 Giuseppe Valiante - THE CANADIAN PRESSMONTREAL – Conservative party Leader Andrew Scheer is trying to reassure Canadians that if elected, his government would better protect their personal information following recent high-profile security breaches at major corporations that compromised the data of millions of Canadians. A…
Three reasons why healthcare is often the target of cyberattacks
August 21, 2019 by Jason ContantIf your client works in the healthcare industry in Canada, they likely know they are an attractive target for cybercriminals. But new research from global cybersecurity company Kaspersky sheds light on some of the reasons why. The study of more…
One easy way for underwriters to find out if their clients’ data has already been breached
August 15, 2019 by Jason ContantUnderwriters can better price cyber insurance if they have a clear understanding of that user’s real risk of being breached. To do that, it’s essential to understand when a user’s email and password combination has been exposed in a previous…
New laws needed to assign cyber fraud liability: Court
August 13, 2019 Colin Perkel - THE CANADIAN PRESSTORONTO – A deputy judge is calling for passage of clear laws on which innocent party should bear responsibility for financial losses related to cyberfraud. In calling for legislation, Ontario Deputy Judge Shane Kelford said it’s clear the law has…
Holding taxpayers at ransom
August 6, 2019 James Steele, Lawyer, Robertson Stromberg LLPHow cybercriminals are stealing municipal data – and how to prevent it
How it happened: Capital One’s $100-million cyber loss
July 30, 2019 by Greg MeckbachCredit card issuer Capital One Financial Corp. expects that a massive cyber breach affecting millions of Canadians could cost the firm more than $100 million. “Expected costs are largely driven by customer notifications, credit monitoring, technology costs, and legal support,”…
How many cyber claims result from human error?
July 3, 2019 by Jason ContantAbout three-quarters of cyber claims notified in 2018 to one specialist insurer involved some kind of “easily preventable” human error. “Theft of funds, ransomware, extortion and non-malicious data breaches usually start with a human error or oversight, such as clicking…