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cyber


News BrokersInsuranceMarkets / CoveragesTechnology

How to protect your clients from cybercriminals cashing in on COVID-19

April 8, 2020 by Jason Contant

Brokers advising clients on cyber insurance during the COVID-19 pandemic will want to make sure there is an appropriate loss of income coverage under the policy, similar to other lines of insurance, a specialist insurer said recently. “If we were

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How cybercriminals are targetting employees working from home

March 19, 2020 David Paddon - THE CANADIAN PRESS

TORONTO – Cybersecurity experts are renewing their warnings that the COVID-19 crisis is a huge opportunity for criminals to take advantage of confusion as people are forced to work away from the office. A U.S. security firm says at least

News Technology

How high-tech venture capital funding leads to better cyber insurance pricing

March 4, 2020 by Greg Meckbach

Recent advances in cybersecurity, driven in part by a spike in venture capital funding, are helping insurers price cyber more accurately, an insurance industry consultant suggests. “There is a huge advancement around the use of artificial intelligence and advanced analytics

News BrokersCommercial LinesInsuranceLegalMarkets / CoveragesTechnology

How to negotiate the nuanced world of email fraud coverage

March 3, 2020 by Jason Contant

Your commercial client may think they are covered for all types of business email compromise (BEC) fraud automatically, but policy triggers are often nuanced, a speaker said recently at NetDiligence’s Cyber Risk Summit in Toronto. “The biggest misconception of our

Feature RiskTechnology

The future of cyber

March 2, 2020 Greg Meckbach, Associate Editor

Nathan Rose, a senior underwriter with Burns & Wilcox, shares how emerging trends in cyber will lead to untapped business opportunities.

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Should you outsource your response to silent cyber?

February 28, 2020 by Jason Contant

Some insurers are specifically allocating internal resources to address silent cyber, while others are outsourcing it, speakers noted recently at NetDiligence’s Cyber Risk Summit in Toronto Feb. 21. Melinda Parker Thompson, an underwriting specialist with Allianz Global Corporate & Specialty

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