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cyber


News RiskTechnology

Loblaws cyber risk manager weighs in on cloud computing security

May 3, 2019 by Greg Meckbach

While cloud computing can introduce a whole new level of cyber risk, it can also help bolster a client’s information security, the cyber risk manager for one of Canada’s largest retailers suggests. “I will say without any hesitation, as I

News InsuranceTechnology

Why it’s hard for insurers to price cyber risk

May 1, 2019 by Greg Meckbach

It’s hard for an insurance company to price cyber because clients are reluctant to report losses, industry experts suggest. “You need historical incidents to understand the types of events out there,” Scott Stransky, assistant vice president and principal scientist in

News InsuranceMarkets / CoveragesRisk

Tips for your cyber clients on creating stronger passwords

May 1, 2019 by Jason Contant

Brokers advising their clients on cyber security should inform them that re-using passwords – or using passwords in the first place – is not the best practice. “Passwords still have their use, but not as a way to uniquely verify

News InsuranceMarkets / CoveragesRiskTechnology

The top threat facing Canadian businesses

April 29, 2019 by Jason Contant

Cyber attacks and data breaches are the Number 1 threat to businesses in North America, according to Aon plc’s newly released 2019 Global Risk Management Survey. Aon surveys thousands of risk managers across 60 countries and 33 industries every two

News RiskTechnology

What a liberal arts gaming enthusiast can bring to the cyber security table

April 29, 2019 by Greg Meckbach

A priest or minister could help your client manage cyber risk, and it’s not by praying that cyber criminals will leave your client alone. “My latest three hires have been a theologian, a political scientist and somebody who has their

News InsuranceRisk

Why moving to the cloud poses a greater security risk

April 24, 2019 by Jason Contant

As businesses increasingly move to the cloud to provide services, their cyber risk is also being greatly heightened, a cyber security professional told Canadian Underwriter recently. Many companies are outsourcing sensitive activities such as human resources or payroll to cloud

News RiskTechnology

Help your client overcome the stigma of the “breach” word

April 23, 2019 by Greg Meckbach

Managing cyber risk effectively means considering the business objectives and setting rules on who can declare a breach has occurred, speakers told insurance professionals at a recent conference. “There is a big connotation as it relates to the word ‘breach,’”

News Commercial LinesInsurance

Debate rages over whether a cyber attack is an act of war

April 18, 2019 by Jason Contant

Can a cyber attack be considered an act of war? That issue came to light in October of 2018 when international food and beverage company Mondelez International sued its insurer Zurich American Insurance Company for declining coverage to Mondelez following

News RiskTechnology

Should your clients have a chief security officer on the board?

April 17, 2019 by Greg Meckbach

Your client may or may not not need a chief security officer [CSO] on its board of directors, but cyber risk should nevertheless be high on its radar screen, speakers told insurance professionals Tuesday. “If the board doesn’t say, ‘Cyber

News InsuranceTechnology

Cyber pricing: Have carriers got it right?

April 17, 2019 by Greg Meckbach

Cyber insurance is a good tool to help clients understand their vulnerabilities, but carriers need to do a better job of pricing according to risk, speakers suggested at a recent conference. “There seems to be a lot of spit-balling on

News ClaimsInsurance

One critical piece of advice to your client about BI cyber claims

April 16, 2019 by Jason Contant

Preparing in advance for how a cyber-related business interruption loss may play out can help transform the claims process, speakers said earlier this month at NetDiligence’s Cyber Risk Summit in Toronto. A lot of the “claims frustration” can be avoided

News InsuranceMarkets / Coverages

Credential stuffing: Canada’s newest cyber threat

April 15, 2019 by Jason Contant

A new cyber threat called “credential stuffing” is emerging, and Canada is the third-most targeted country in the world, according to a new report. Credential stuffing is when hackers take a stolen username and password and then run it through