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Simultaneous cyberattacks on multiple companies likely in 2017, financial services industry key concern: AIG study

May 11, 2017 by Canadian Underwriter

Nine in 10 global cybersecurity and risk experts believe that cyber risk is systemic and that simultaneous attacks on multiple companies are likely in 2017, according to a study issued on Wednesday by global insurer American International Group, Inc (AIG).

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Cyberespionage and ransomware attacks on the increase, report warns

April 27, 2017 by Canadian Underwriter

Cyberespionage is now the most common type of attack seen in the global manufacturing, education and now public sectors, a new report has revealed. According to the Verizon 2017 Data Breach Investigations Report (DBIR), released on Thursday, ransomware is now

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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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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

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Worldwide spending on security technology expected to reach US$81.7 billion in 2017: International Data Corporation

March 31, 2017 by Canadian Underwriter

Worldwide spending on security technology is forecast to reach US$81.7 billion this year, according to a recently released guide from International Data Corporation (IDC), a global provider of market intelligence, advisory services and events for the information technology, telecommunications and

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One in four U.S. consumers victim of healthcare data breach: Accenture

February 21, 2017 by Canadian Underwriter

Just over one in four consumers (26%) in the United States have had their personal medical information stolen from technology systems, according to results of a survey from Accenture released on Monday. The findings related to the U.S. portion of

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Ransomware attacks quadrupled in 2016, projected to double again in 2017: Beazley

January 26, 2017 by Canadian Underwriter

Beazley, a provider of data breach response insurance, said in a report on Thursday that ransomware attacks quadrupled in 2016 and they are projected to double again in 2017. Beazley released its Beazley Breach Insights – January 2017 findings based

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X by 2 enters Canadian market with formal subsidiary, office

January 9, 2017 by Canadian Underwriter

Technology consultancy X by 2 has expanded its footprint by taking its first-ever step into Canada, a move meant to beef up service to its growing client base in the Canadian insurance market. Focused on the practice of architecture for

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Increased cyber espionage, data integrity attacks part of global threat landscape in 2017: Stroz Friedberg

January 5, 2017 by Canadian Underwriter

Top cyber threats in the coming year include nation state cyber espionage, a rise in data integrity attacks and more attacks harnessing Internet of Things (IoT) devices, Stroz Friedberg, an Aon company, notes in its 2017 Cybersecurity Predictions report. “We

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Growing trend toward seeking punitive, personal legal action against corporate leaders: AGCS

November 28, 2016 by Canadian Underwriter

New and emerging risks are putting corporate leaders under more pressure of falling foul of investigations, fines or prosecution over alleged wrongdoing, notes a new global report issued Monday by Allianz Global Corporate & Specialty (AGCS). “There is a growing

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Canadian business executives report not doing enough to protect data, security concern over migrating to the cloud persists: Microsoft Canada

October 31, 2016 by Angela Stelmakowich

Skepticism over security when migrating to the cloud was voiced by almost six in 10 Canadian senior-level business leaders taking part in a Microsoft Canada Inc. survey. In all, 58% of the 711 respondents from the private and public sectors

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Cyber insurance rates could rise 30% in 2016 for large health care, point-of-sale retailers: Willis Towers Watson

April 7, 2016 by Canadian Underwriter

The withdrawal by American International Group Inc. from some monoline site pollution markets “will result in increased competition” as other carriers look to pick up the displaced business, losses arising from the explosion last August in the Chinese port of