Most 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…
Being 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,…
TORONTO – 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,…
Trying 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.…
CHICAGO – 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…
MONTREAL – 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…
If 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…
Underwriters 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…
TORONTO – 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…
How cybercriminals are stealing municipal data – and how to prevent it
Credit 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,”…
About 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…