Canadian Underwriter

Keyword
ransom

News InsuranceLegislation / RegulationMergers and AqcuisitionsProductsTechnology

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

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Many global Internet users unprepared for dealing with ransomware attack, study finds

May 17, 2017 by Canadian Underwriter

As institutions around the world continue to assess the full impact of the recent Wannacry ransomware attack, recent research from Ipsos and the Centre for International Governance Innovation (CIGI) suggests that many global Internet users are “distinctly unprepared” for how

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

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

News InsuranceLegalTechnology

U.S. prosecutor’s office paid bitcoin ransom in cyberattack

December 6, 2016 Joe Mandak - THE ASSOCIATED PRESS

PITTSBURGH – A state prosecutor’s office in Pennsylvania was among hundreds of thousands of victims of a now-shuttered international cybercrime operation, paying nearly $1,400 in a bitcoin ransom to free up its infected computer network, authorities disclosed Monday. Federal prosecutors

News InsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

Sea piracy drops to 21-year low in first half of 2016: global report

July 26, 2016 by Canadian Underwriter

Despite a surge in kidnappings off West Africa, piracy and armed robbery at sea has fallen to its lowest levels since 1995, notes a new report issued Monday by the International Chamber of Commerce’s International Maritime Bureau (IMB). There were

News InsuranceLegalMergers and AqcuisitionsTechnology

University of Calgary pays ransom after attack on computer systems

June 8, 2016 The Canadian Press

CALGARY – The University of Calgary says it paid a ransom of $20,000 demanded after a recent cyberattack. The school says in a news release that staff were able to isolate some of the attack and are working to ensure

News LegalMergers and AqcuisitionsTechnology

Researchers: Newer type of ransomware is harbinger of danger

April 13, 2016 Tami Abdollah - THE ASSOCIATED PRESS

WASHINGTON – An unusual strain of virus-like hacker software that exploits computer server vulnerabilities – without requiring human interaction – is a leading example of a new generation of “ransomware,” according to a new report by Cisco Systems Inc. Hackers