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cyberattack

News Insurance

Cyber insurance: Most frequent and costly claims revealed

November 24, 2020 by Jason Contant

External attacks on companies result in the most expensive cyber insurance losses, but internal failures like employee mistakes and technical problems are the most frequent generator of claims by number (albeit with a lower financial impact), a new report says.

News Insurance

Canada’s cybersecurity agency warns of online threats that exploit COVID-19 fears

November 19, 2020 Jim Bronskill - THE CANADIAN PRESS

OTTAWA – A federal agency that monitors brewing online threats warns of fraudsters dangling COVID-19-related content to fool victims into clicking on malicious links and attachments.   Online tricksters know people are anxious about the future and are less likely to

News Insurance

Demystifying cyber’s first hard market

November 12, 2020 by David Gambrill

Cyber insurance is a relatively new line of business in Canada and so it hasn’t seen any hard markets historically — until now, that is. And it seems that insurers have ransomware to thank for that. “I think it is

News Insurance

Cyberattack targets Montreal health agency, forcing it to go offline

November 2, 2020 Sidhartha Banerjee - THE CANADIAN PRESS

MONTREAL – A Montreal health agency has been forced off-line as authorities deal with a cyberattack. Quebec Health Minister Christian Dube said Thursday that specific attacks hit systems at the regional health agency covering west-central Montreal, which oversees the Jewish

News Insurance

‘The cost nobody talks about’ with cyber

October 23, 2020 by Adam Malik

Brokers are advised to factor in the cost of reputational harm for their commercial clients when discussing cyber policy, because that’s typically the most expensive aspect of a breach. Clients typically focus on costs related to notifying clients and forensics,

News Insurance

Some CRA online services remain unavailable a month after cyberattacks

September 24, 2020 Jacob Serebrin - THE CANADIAN PRESS

More than a month after the Canada Revenue Agency took its website offline in the wake of a major cyberattack, the federal tax collection agency won’t say when it expects its online services to fully return to normal.   A number

News Insurance

How a cyberattack on a Canadian insurance courier affected brokers and carriers

August 26, 2020 by Jason Contant

Some Canadian brokerages and insurers recently experienced delays in mail pick-up and delivery after a prominent courier service for the Canadian insurance industry suffered a cyberattack. ICS Courier confirmed in a message on its website Monday that it was the

News EmploymentInsuranceRisk

Canada Revenue Agency suspends online services after cyberattacks

August 17, 2020 Lee Berthiaume - THE CANADIAN PRESS

OTTAWA – The Canada Revenue Agency has temporarily suspended its online services after two cyberattacks in which hackers used thousands of stolen usernames and passwords to fraudulently obtain government services and compromise Canadians’ personal information. A total of 5,500 CRA

News Insurance

Paid Working from Home: Cybersecurity and the Remote Worker

June 12, 2020 Trisura Guarantee Insurance Company

In these times of social distancing and working from home, it’s become even more crucial to ensure strong cybersecurity measures are in place for you and your business. Working from home can pose its own challenges and takes adjusting to;

News RiskTechnology

Canadian military equipment vulnerable to cyberattacks, officials say

March 6, 2020 Lee Berthiaume - THE CANADIAN PRESS

OTTAWA – Canada and the United States are working together to make their high-tech military equipment less hackable, top defence officials said in Ottawa Thursday, but they have a lot of work to do. Speaking to the Ottawa Conference on

News Claims CanadaRiskTechnology

Canadian companies paying high cybercrime bills

May 13, 2019 by Adam Malik

Malicious insiders and malware attacks are costing Canadian companies. New research from global professional services company Accenture and data protection research firm Ponemon Institute pegged the average cost of cybercrime to a Canadian company at more than $12 million in

News LegalRiskTechnology

Cyber attack in Canada spawns $60 million lawsuit

March 29, 2019 By Colin Perkel - THE CANADIAN PRESS

TORONTO – As many as 200,000 people may have had their personal information stolen in a hack on servers at one of Ontario’s most popular casinos, a lawyer for the plaintiffs pressing a proposed class action argued on Thursday. However,