An M&A transaction can become even more complicated for both seller and buyer alike when a cyber breach occurs during the deal, experts at NetDiligence Cyber Risk Summit shared. Due diligence and adequate representations and warranties (R&W) coverage during the…
Insurers can expect pixel liability to “rear its ugly head” in Canada after recent litigation in the U.S., a lawyer at the NetDiligence Cyber Risk Summit said. Especially as one Canadian home improvement company has been deemed by the…
It’s not going to be a walk in the park, but experiencing a cyber breach isn’t necessarily all doom and gloom, either. A cyber-attack may help an industry organization up the ante on their cybersecurity — and that makes them…
Cyber insurers are now deliberately addressing silent cyber coverage in insurance policies, a Marsh executive said Wednesday at NetDiligence’s Cyber Risk Summit in Toronto. “With property [insurance policies]…I’m not seeing silent cyber anymore. I’m seeing very purposeful underwriting,” Karen Continenza,…
Capacity is still readily available to cover cyber risks, but more insurers are approaching the coverage cautiously, a speaker said Friday at NetDiligence’s Cyber Risk Summit in Toronto. In terms of procedure, clients’ applications for cyber coverage must clear more…
Companies in Canada and the United States can expect one week of downtime as a result of a ransomware attack, speakers said at NetDiligence’s recent Cyber Risk Summit in Toronto. “A decryption effort, even in the best case scenario, is…
The 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,…