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Cyber breach: Assume your client will be hacked

April 17, 2018 by Greg Meckbach

Directors and officers do not have to be flawless in their cyber security controls but need to come up with a cyber incident response plan and practice it on a regular basis, speakers told insurance professionals at a recent conference.

News Markets / CoveragesTechnology

What you need to know about the evolution of ransomware

April 14, 2018 by Jason Contant

Brokers need to stay on top of constantly emerging cyber threats, as cybercriminals continue to adapt their techniques, particularly around ransomware. Criminals are still very successful, says Matt Hartley, vice president of global services and intelligent engineering with cybersecurity company

News InsuranceTechnology

How to give your client a ‘wake-up call’ on cyber risk

April 14, 2018 by Greg Meckbach

Cyber insurance application forms can give companies a “good understanding” of how well prepared they are to deal with an information security-related loss, speakers said Thursday at the International Cyber Risk Management Conference in Toronto. “We have seen clients stop

News Legislation / RegulationMarkets / CoveragesTechnology

Ashley Madison may provide clue to regulations around data breach disclosure

April 12, 2018 by Jason Contant

The upcoming mandatory requirement to disclose data breaches will help address some of the anxieties that Canadians have about cybersecurity and data protection, and may prescribe some precautions that organizations can take for remediation. What would these precautions look like?

News Legislation / RegulationMarkets / CoveragesTechnology

Mandatory breach requirements effective November 1. Here’s what to do.

April 11, 2018 by Jason Contant

With mandatory breach notification requirements coming into effect on November 1, Canadian businesses will need to focus on two factors to prepare: 1) a risk assessment, and 2) determining the decision makers in the company and a breach response plan.

News InsuranceMarkets / CoveragesTechnology

Cybercriminals are infiltrating software vendors, launching supply chain attacks

April 11, 2018 by Jason Contant

Cybercriminals are moving into the terrain of supply chain attacks, masquerading as signed apps, and using ransomware as a distraction to steal money from the network. Each of these are “interesting new areas” that cybercriminals may exploit in the future,

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Need for organizations to fill culture gap when it comes to cyber risk: ICRMC speaker

March 3, 2017 by Angela Stelmakowich

Organizations and their boards must treat cyber risk as an enterprise-wide issue to help foster a culture in which every person and every department understands it has a role to play in making the organization as cyber-secure as possible, corporate

News CatastrophesLegalLegislation / RegulationTechnology

Disruption becoming more of a motivator for cyber attacks: ICRMC panel

March 2, 2017 by Angela Stelmakowich

The motivation and rationale behind certain cyber attacks seems to be undergoing a transition, with some actors looking to inflict the most disruption possible on a target entity simply for the “fun” of it, it was suggested Thursday during the

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Cyber risk data ‘not all that robust,’ Willis Re speaker tells ICRMC

April 4, 2016 Greg Meckbach, Associate Editor

Cyber insurance has evolved considerably since 1999 but commercial insurers lack standardization in cyber policies and there is not a lot of data available for underwriters, a speaker suggested at a recent conference. For cyber risk, “the data is not