Canadian Underwriter

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cybersecurity

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Artificial Intelligence, the latest cybersecurity threat

February 19, 2018 by Jason Contant

Artificial intelligence (AI) could be a double-edged sword for Canada’s property and casualty insurance industry, offering several potentially positive outcomes, but at the same time a new cybersecurity threat. AI is consistently touted by the insurance industry for its potential

News InsuranceMarkets / CoveragesTechnology

Average Canadian company faces $3.7 million in cyber exposure

February 9, 2018 by Jason Contant

The cost to recover from security breaches in Canada averages $3.7 million in direct and indirect costs per organization, including network down time, employee work days, lost files and compromised information, according to a new survey. Of that amount, the

News InsuranceTechnology

Senators urge feds to act on privacy, security issues with automated cars

January 30, 2018 Jordan Press - THE CANADIAN PRESS

OTTAWA – The federal Liberal government needs to take the wheel when it comes to the development and testing of self-driving cars on Canadian roads – or risk getting run over by the fast-approaching high-tech revolution, a Senate committee warns.

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Security experts unsure of how to combat targetted attacks: Kaspersky report

November 7, 2017 by Canadian Underwriter

More than 60% of IT security experts are unsure of how to combat security breaches like targetted attacks, a new report on behalf of cybersecurity company Kaspersky Lab has found. The report, titled New Threats, New Mindset: Being Risk Ready

News InsuranceMarkets / CoveragesTechnology

Apathy towards device security key cyber risk: Kaspersky

October 19, 2017 by Canadian Underwriter

A reliance on mobile devices and apathy towards device security have been highlighted as key cybersecurity impact areas in Kaspersky Lab’s latest Kaspersky Cybersecurity Index. The index, an aggregate of indicators reflecting changes in online behavior, found that in the

News InsuranceMarkets / CoveragesTechnology

Nearly one-half of Canadian SMB employees believe their company is at risk of cyberattack: survey

September 27, 2017 by Canadian Underwriter

Nearly one-half (46%) of Canadian small- and medium-sized businesses (SMBs) believe that their organization is at risk of experiencing a cyberattack, according to a new survey from Internet security company ESET Canada. The research, commissioned by ESET Canada and conducted

News InsuranceLegalMergers and AqcuisitionsTechnology

Deloitte says email cyberattack affected ‘very few clients’

September 25, 2017 The Associated Press (APR)

LONDON – Accounting firm Deloitte says it has launched a thorough investigation into a cyberattack that hit its email system. The company said in a statement Monday that the breach had affected “very few clients” and that government authorities were

News InsuranceLegalMergers and Aqcuisitions

U.S. federal agency urging corporate cybersecurity upgrades is hacked

September 21, 2017 The Associated Press (APR)

The federal agency responsible for ensuring that markets function as they should and for protecting investors was hacked last year and the intruders may have used the nonpublic information they obtained to profit illegally. The disclosure arrived two months after

News Insurance

79% of U.S. insurance CEOs confident of growth prospects, 82% looking to disrupt: KPMG study

September 15, 2017 by Canadian Underwriter

The majority of insurance company CEOs in the United States – 79% – are confident about the growth prospects of their organizations over the next three years as they are looking to innovate processes and implement new technologies in response

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

Global insurers struggle with regulatory and accounting compliance: study

September 11, 2017 by Canadian Underwriter

As insurance firms invest in more complex securities, they struggle to manage data and meet regulatory reporting requirements, a newly released study has found. Addressing local regulation and accounting standards is the leading operational challenge when it comes to firms’

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Security software, data back-up most important elements of U.S. cybersecurity policies: Clutch survey

September 7, 2017 by Canadian Underwriter

Almost all polled large employers in the United States have a cybersecurity policy in place, with required security software and how to back up data being the most important elements of the policy, a recent study from research company Clutch

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

83% of polled organizations had standalone cyber insurance policies: 2017 RIMS Cyber Survey

August 24, 2017 by Canadian Underwriter

Organizations with standalone cyber insurance policies increased three points from 2016 to 83%, according to the 2017 RIMS Cyber Survey. “Risk professionals’ continued to show confidence in standalone cyber insurance policies as the number of practitioners who purchased the coverage