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cybersecurity

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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 RiskTechnology

What workers need to learn about cyber security

December 10, 2018 Joyce M. Rosenberg - THE ASSOCIATED PRESS

NEW YORK – It may seem obvious: Companies’ computers, mobile devices and accounts need secure passwords. But many small business owners don’t take the time to educate staffers about these very basic forms of cybersecurity. And staffers may not know

News BrokersInsuranceMarkets / CoveragesMGAs

Look to utilities, retailers for cyber sales opportunities, suggests new survey

August 22, 2018 by Jason Contant

If you’re looking to sell cyber coverage to big business, focus your efforts on utilities and retailers, suggest the results of a recent survey. The survey of companies with 500 or more employees also found that a growing number of

News Markets / CoveragesTechnology

A new tool for small businesses in the fight against cybercrime

June 14, 2018 by Jason Contant

The federal government has unveiled its National Cyber Security Strategy, with which it will establish a voluntary, recognizable certification intended to enable small- and medium-sized enterprises (SMEs) to demonstrate to both businesses and consumers that they meet a baseline set

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

You’ve got your clients’ data locked down, but can you prove it to a regulator?

March 28, 2018 by David Gambrill

Insurance organizations may be good at protecting their own clients’ data, but can they prove it? “In general, I would say that insurers are good at securing their data,” French Caldwell, a former advisor to the White House on cybersecurity,

News Markets / CoveragesTechnology

Stats suggest ongoing growth opportunity in cyber insurance

March 26, 2018 by Jason Contant

One-third of Canadian businesses have unwittingly leaked sensitive information to cybercriminals, highlighting the opportunity for education from the property and casualty (P&C) insurance community. According to the 2018 Canadian Internet Security Survey, released on March 22 by the Canadian Internet

News Markets / CoveragesTechnology

Expectations high that federal budget will make big investments in cybersecurity

February 23, 2018 Andy Blatchford and Jim Bronskill - THE CANADIAN PRESS

OTTAWA – Government and industry insiders have high expectations next week’s federal budget will contain big investments to help Canada reinforce its cybersecurity defences in an age of heightened global threats to businesses, privacy and democracy. A senior government official

News InsuranceMarkets / CoveragesTechnology

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.

News InsuranceMarkets / CoveragesTechnology

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