Canadian Underwriter

Keyword
data breach


News InsuranceMarkets / CoveragesTechnology

How Canada’s data breach reporting law can help brokers sell cyber based on facts, not fear

March 22, 2018 by David Gambrill

Canada’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

Feature Claims CanadaInsurance

New data requirements will make cyber coverage mandatory

March 12, 2018 Heather Sanderson

Enacted 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

News Markets / CoveragesTechnology

Cyberattacks will increasingly lead to business interruption, cyber insurer warns

February 22, 2018 by Jason Contant

Cyber 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

News InsuranceMarkets / CoveragesTechnology

Former privacy commissioner offers tip on reporting data breaches

February 15, 2018 by David Gambrill

CEOs, 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

Feature ClaimsLegislation / Regulation

The Latest Opportunity in Cyber Coverage

February 12, 2018 Eduard Goodman, Global Privacy Officer, CyberScout

Canadian businesses will soon be required to report all data breaches. Here’s how you can meet their need for cyber coverage.

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Preparing your clients to report data breaches in Canada—and abroad

January 10, 2018 by Jason Contant

With Canada’s mandatory data breach notification provisions in the Digital Privacy Act expected to come into force this year, organizations will soon be required to report “breaches of security safeguards” that pose a “real risk of significant harm to an

Feature Legal

Compromised Data

October 24, 2017 Antoine St-Germain, Partner, Gasco Goodhue St-Germain LLP

A Quebec court recently ruled that obtaining credit reports and replacing accounts are potentially matters for which plaintiffs could be entitled to compensation in a class-action lawsuit arising from a breach of a retailer’s payment card data.

News ClaimsInsuranceMarkets / CoveragesTechnology

Average cyber breach costs US$394,000, higher in financial services sector: NetDiligence

October 12, 2017 by Canadian Underwriter

The aggregated average total breach cost of a cyber event is US$394,000, with an average claim for a large company of US$3.2 million, a new report from NetDiligence has found. NetDiligence, a provider of cyber risk readiness and response services,

News InsuranceLegalMarkets / CoveragesTechnology

Yahoo triples data breach numbers to 3 billion accounts affected in 2013

October 4, 2017 Matt O’Brien - THE ASSOCIATED PRESS

BOSTON – Yahoo has tripled down on what was already the largest data breach in history, saying it affected all 3 billion accounts on its service, not the 1 billion it revealed late last year. The company announced Tuesday that

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

‘Small number’ of RBC credit card holders affected in Equifax breach, bank says

September 22, 2017 The Canadian Press

TORONTO – RBC says “a small number” of its credit-card clients’ personal information may have been affected in the massive Equifax security breach. Bank spokesperson A.J. Goodman said in an email that RBC has not yet identified any impact to

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Nearly two billion data records compromised in first half of 2017: report

September 22, 2017 by Canadian Underwriter

More than 900 data breaches led to nearly two billion records being compromised worldwide in the first half of 2017, digital security company Gemalto said in a new report. In the first six months of this year, 918 data breaches

News Insurance

100,000 Canadians may have been affected by data breach: Equifax Canada

September 19, 2017 by Canadian Underwriter

Equifax Canada is reporting that the personal information of approximately 100,000 Canadian consumers may have been affected by the credit monitoring company’s recent data breach. “While our investigation is ongoing and this information may change, at this point, we believe