Mainframes have proved essential over the decades for insurers needing to run core applications. But are these once-reliable units becoming a hindrance to innovation? Is modernization of mainframes essential for the global insurance industry?
Worldwide spending on information technology is projected to total US$3.5 trillion in 2017, a 2.7% increase from 2016, according to Gartner, Inc. Gartner, a Stamford, Conn.-based IT research and advisory company, noted in a statement on Thursday that the growth…
The Government of Canada announced on Tuesday that it is launching consultations on “modernizing the digital services it provides to Canadians through secure and reliable information technology.” Judy M. Foote, the Minister of Public Services and Procurement, announced in a…
Cyber crime is a major disruption to business, with Deloitte Canada reporting only one in five respondents say they are prepared to effectively respond to a cyber attack.
Mobile application developers can do plenty to reduce the security risk of their apps. That said, information security also depends on the devices themselves, which, unfortunately, are not always within the control of insurers or their developers.
The Internet of Things brings with it both risks and rewards. But given the exclusions and wording issues in a number of policies, coupled with the paucity of judicial analysis, policyholders should not assume that coverage is available in the event of an IoT-related loss.
Ransomware and malware disguised as advertising tools for web browsers are just some of the computer security threats that can trigger losses. Experts advise organizations, especially those with sensitive data, to educate their non-technical staff on defending against threats from cyberspace.
While risk managers for large manufacturers tend to be aware of the vulnerability of their supply chains to major incidents affecting business partners, the same cannot necessarily be said for risk professionals at small to mid-sized organizations. Some experts warn the latter may not be aware of the full impact that aggregation of risk, including relating to cyber and critical infrastructure, can have.
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