Keyword
data breach
The Latest Opportunity in Cyber Coverage
February 12, 2018 Eduard Goodman, Global Privacy Officer, CyberScoutCanadian businesses will soon be required to report all data breaches. Here’s how you can meet their need for cyber coverage.
Preparing your clients to report data breaches in Canada—and abroad
January 10, 2018 by Jason ContantWith 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…
Compromised Data
October 24, 2017 Antoine St-Germain, Partner, Gasco Goodhue St-Germain LLPA 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.
Average cyber breach costs US$394,000, higher in financial services sector: NetDiligence
October 12, 2017 by Canadian UnderwriterThe 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,…
Yahoo triples data breach numbers to 3 billion accounts affected in 2013
October 4, 2017 Matt O’Brien - THE ASSOCIATED PRESSBOSTON – 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…
‘Small number’ of RBC credit card holders affected in Equifax breach, bank says
September 22, 2017 The Canadian PressTORONTO – 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…
Nearly two billion data records compromised in first half of 2017: report
September 22, 2017 by Canadian UnderwriterMore 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…
100,000 Canadians may have been affected by data breach: Equifax Canada
September 19, 2017 by Canadian UnderwriterEquifax 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…
Equifax to update Canadians this week, still mum on number impacted by hack
September 18, 2017 Armina Ligaya - THE CANADIAN PRESSTORONTO – 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…
Insurers increasingly concerned about “silent cyber” exposure: Willis Re poll
September 12, 2017 by Canadian UnderwriterAbout 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…
Canadian companies lag in cybersecurity investments, survey finds
May 23, 2017 by Canadian UnderwriterMore 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…
“Slow but steady” trend in take-up rates among U.S. cyber insurance clients: Council of Insurance Agents & Brokers
May 19, 2017 by Canadian UnderwriterThere 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…