Canadian Underwriter

Keyword
data breach


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

News Insurance

Equifax to update Canadians this week, still mum on number impacted by hack

September 18, 2017 Armina Ligaya - THE CANADIAN PRESS

TORONTO – Equifax Canada said Monday it plans to provide an update this week on the impact of its massive data breach it, but would not say how many individuals north of the border may have had their personal information

News Mergers and AqcuisitionsTechnology

Insurers increasingly concerned about “silent cyber” exposure: Willis Re poll

September 12, 2017 by Canadian Underwriter

About half of polled insurance industry practitioners see the risk of “silent cyber” exposure – potential cyber-related losses due to silent coverage from insurance policies not specifically designed to cover cyber risk – as growing over the coming year, according

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Canadian companies lag in cybersecurity investments, survey finds

May 23, 2017 by Canadian Underwriter

More than three-quarters (76%) of surveyed Canadian executives believe that the number of data breach attempts on their firms will be higher in a year, yet fewer than half said that their organization’s investments in cybersecurity will increase in that

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

“Slow but steady” trend in take-up rates among U.S. cyber insurance clients: Council of Insurance Agents & Brokers

May 19, 2017 by Canadian Underwriter

There is a “slow but steady” trend in take-up rates among cyber insurance clients and prices continue to stabilize, according to a recent survey from the Council of Insurance Agents & Brokers (CIAB) in Washington, DC. When it comes to

News InsuranceLegislation / RegulationMarkets / CoveragesProfessional Development

72% of employees willing to share sensitive, confidential or regulated company info: survey

April 25, 2017 by Canadian Underwriter

Nearly three in four (72% of) employees across eight countries, including Canada, are willing to share sensitive, confidential or regulated company information, according to a recent survey from computer technology company Dell. Late last week, Dell released the results of

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Global organizations spending almost four times more budget on property-related risks than cyber risks: Aon/Ponemon report

April 25, 2017 by Canadian Underwriter

Global organizations are spending nearly four times more budget on property-related risks than cyber risks, according to a report released on Tuesday by the Ponemon Institute and sponsored by Aon plc. The 2017 Cyber Risk Transfer Comparison Global Report also