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Economical launches data breach coverage for Canadian businesses

August 2, 2017 by Canadian Underwriter

Waterloo, Ont.-based Economical Insurance announced on Wednesday that it has launched EXPERT Cyber, coverage that is available to commercial policies for Canadian businesses in the event of a data breach. “Cybersecurity is a growing area of concern for businesses of

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One in four hide cybersecurity incidents from employers, global Kaspersky survey finds

July 10, 2017 by Canadian Underwriter

Forty per cent of employees around the globe hide IT security incidents to avoid punishment, according to a new report from cybersecurity company Kaspersky Lab and market research company B2B International. The report, titled Human Factor in IT Security: How

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Economy at risk without joint Canada-U.S. cyber defence, says former U.S. National Security Agency director

June 2, 2017 Mike Blanchfield - THE CANADIAN PRESS

OTTAWA – Canada and the United States need a new cyber defence program – like their joint Norad air defence – to prevent hackers from hobbling their economies, says the former head of the U.S. National Security Agency. Retired general

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WannaCry ransomware attack “arguably the first ever cyber-catastrophe”: RMS cyber expert

May 16, 2017 by Canadian Underwriter

The global WannaCry ransomware attack is “arguably the first ever cyber-catastrophe,” an expert in cyber risk management from RMS said on Tuesday. Tom Harvey said in a statement that the cyberattack “clearly demonstrates the systemic nature of the risk, with

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Ransomware cyberattack cripples hospitals across the United Kingdom

May 12, 2017 by Canadian Underwriter

A large ransomware cyberattack has “crippled” computer systems at hospitals across the United Kingdom on Friday, with appointments cancelled, phone lines down and patients turned away, the Associated Press has reported. Britain’s National Health Service (NHS) said that a number

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New phishing scams aimed at accessing direct deposit funds emerging: Beazley

April 25, 2017 by Canadian Underwriter

Phishing scams aimed at accessing direct deposit funds have emerged as a new danger in 2017, specialist insurer Beazley said on Tuesday. Phishing scams aimed at accessing specific employee tax information were a continuing threat, representing 9% of all breaches

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RMS releases new class of cyber-physical risk modelling for property insurers

April 6, 2017 by Canadian Underwriter

RMS has expanded its range of cyber models to include a new class of so-called cyber-physical models in a bid to answer the increasing related risk of insurance losses from hackers targeting control systems linked to the Internet. These cyber-physical

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McDonald’s Canada says info of 95,000 job applicants compromised

April 3, 2017 The Canadian Press

TORONTO – McDonald’s Canada says the jobs section of its website has been hacked, compromising the personal information of about 95,000 applicants over the last three years. The company said Friday the accessed information included names, addresses, phone numbers, employment

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Small firms wanting cyber coverage should “hold an inventory” of personally identifiable information: Chubb

March 3, 2017 Greg Meckbach, Associate Editor

Bodily injury and property damage exclusions in cyber insurance policies means the Internet of Things has “big implications” for organizations, while malware that existed unbeknownst to a user before binding a policy can mean a cyber incident is not covered,

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Hacking of driverless cars a concern for mining industry: Deloitte

February 10, 2017 by Canadian Underwriter

The exploration plans of Canadian mining firms are among the “prime” targets for hackers, while autonomous vehicles used by miners could be influenced by computer viruses, Deloitte Touche Tohmatsu Ltd. warned in a recent report. “Malicious viruses, like Stuxnet, explicitly

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Recent High Profile Cyber Breaches

January 20, 2017 by

Casino Rama, Ashley Madison and Yahoo are among the organizations recently hit by cyber breaches

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Cloud security company discovers new cyberattack targeting Office 365 business email users

December 15, 2016 by Canadian Underwriter

Experts with New York City-based cloud security platform Avanan reported on Wednesday that they have discovered a new cyberattack targeting business email users of Microsoft’s Office 365. Avanan said in a blog post that the phishing attack was found using