Keyword
data breach
Data breach risk prompts new Ontario legislation
November 30, 2018 by Greg MeckbachRecent backlashes against Statistics Canada and Facebook have prompted Ontario lawmakers to make it harder to share consumer banking information. “Financial data is especially vulnerable to hacking,” Stephen Crawford, Ontario MPP for Oakville, said Thursday at Queen’s Park in Toronto.…
Half a billion could be affected by hotel data breach
November 30, 2018 THE ASSOCIATED PRESSBETHESDA, Md. – A security breach at one of North America’s largest hotel groups, which includes the Sheraton, Westin, Starwood and Marriott brands, has exposed the personal information of as many as 500 million guests. Marriott International, Inc. said Friday…
Why cyber can be a hard sell for brokers
September 24, 2018 by Greg MeckbachData breaches are all over the news, but convincing some corporate clients to spend in the neighbourhood of $1,000 a year for insurance coverage can be an uphill battle. Some cyber insurance products cost around $100 a year, but those…
How to advise clients on cyber after Algonquin breach
July 31, 2018 by Jason ContantBrokers can aid their clients by raising awareness of the common tactics of cybercriminals, as well as by advising their clients to be careful about with whom they share their personally identifiable information (PII). Zac Cohen, general manager of Vancouver-based…
How data breaches cause harm even if no financial info is stolen
July 17, 2018 by Jason ContantA recent data breach at an Ontario college highlights the importance of educating clients on cybersecurity, even if no financial information was exposed. “Even having your name, address and date of birth stolen can still cause problems,” Don Duncan, security…
Privacy Commissioner gives brokers more ammunition to sell cyber policies
June 6, 2018 by Jason ContantCanada’s privacy commissioner is looking to add some bite to the country’s federal privacy laws. And if you need another reason to keep cyber insurance top of mind for your clients, look no further than a recent survey from the…
Why North America is the costliest for SMB data breaches
May 28, 2018 by Jason ContantNorth America is the most expensive location for a small and medium-sized business (SMB) to suffer a data breach, with SMBs in Canada and the United States also having the highest recovery cost, according to a new study. This year’s…
New privacy rules give businesses flexibility on data breach reporting
April 20, 2018 David Paddon - THE CANADIAN PRESSTORONTO – Federal data breach regulations set to take effect Nov. 1 will require mandatory reporting of security breaches that pose a “real risk of significant harm,” but give businesses flexibility about how that’s done. Ottawa has rolled out the…
How Canada’s data breach reporting law can help brokers sell cyber based on facts, not fear
March 22, 2018 by David GambrillCanada’s forthcoming implementation of mandatory data breach reporting may create an opportunity for the country’s commercial brokers to have conversations with their clients about cyber insurance risk based on concrete data instead of fear, a Marsh Canada broker says. Improved…
New data requirements will make cyber coverage mandatory
March 12, 2018 Heather SandersonEnacted by the European Parliament to simplify business rules for companies operating in the EU market and to strengthen the privacy rights of EU citizens, the General Data Protection Regulation (GDPR) comes into effect May 25, 2018. When it comes…
Cyberattacks will increasingly lead to business interruption, cyber insurer warns
February 22, 2018 by Jason ContantCyber insurer Beazley is expecting an increase in cyberattacks that lead to business interruption, especially due to the growth of cloud platforms and connected devices in the workplace. On Wednesday, Beazley released its 2018 Breach Briefing outlining the types of…
Former privacy commissioner offers tip on reporting data breaches
February 15, 2018 by David GambrillCEOs, not chief information officers (CIOs), should be making the call on whether to report a data breach when a company falls victim to a targeted cyberattack, a former privacy commissioner told a cyber loss management seminar organized by Crawford…