Canadian Underwriter

Keyword
ransomware

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Toronto cyberattacks show public bodies need to boost security, experts say

February 14, 2024 Maan Alhmidi – The Canadian Press

As the Toronto Public Library gradually works to restore full service following a crippling October cyberattack, experts are warning that public organizations need to find ways to bolster their ransomware defences, despite having limited resources. A few months after the

Cyber security concept
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How cyber pricing is trending for large Canadian companies

January 25, 2024 by Jason Contant

Large corporate cyber clients in Canada saw pricing decreases last year and one cyber underwriter expects the market for those risks will flatten out in 2024. “In 2023, we did see some fairly significant softening in the market; prices were

Ransomware attack
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Toronto Zoo says staff personal info stolen in ransomware cyberattack

January 18, 2024 The Canadian Press

TORONTO – The Toronto Zoo says it believes personal information of its current, former and retired employees was stolen in a ransomware cyberattack first detected earlier this month. The zoo says the information includes past earnings information, social insurance numbers,

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Business owners lack cyber insurance knowledge: survey

November 9, 2023 by David Gambrill

One out of every five Canadian businesses surveyed said they don’t know enough about cyber insurance, suggesting an open window for brokers and insurers to provide educational support, a new cyber survey from Travelers Canada suggests. “I think what the

Concept of secure medical records
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Ontario hospitals warn stolen patient, employee data may be published  

November 2, 2023 The Canadian Press

Five Ontario hospitals affected by a recent ransomware attack, along with their shared IT provider, are warning patients and staff that their data may be published.   The attack caused an outage of some online services at Bluewater Health, Chatham-Kent Health

Ransom note to convey increase of cybercrime using ransomware
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What’s driving rising ransomware attacks

October 30, 2023 Philip Porado

Ransomware attacks are increasing globally thanks to evolving cybercrime tactics that make it easier for thieves to transfer data from computers or other devices. “Cyber claims frequency has picked up again this year as ransomware groups continue to evolve their

Warning of ransomware detected on machine
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Why your cyber clients need to keep an eye on ransomware 

September 25, 2023 by Jason Contant

Canada was the third most affected country in the world for successful ransomware-as-a-service (RaaS) and extortion attacks in the first and second quarters of 2023, said a report from cybersecurity company Trend Micro.  The report, LockBit, BlackCat, and Clop Prevail

Hacker with a laptop
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How ransomware claims are trending

September 20, 2023 by Jason Contant

Ransomware claims have transformed from mostly third-party liability claims into first-party liability, a cyber insurance expert tells Canadian Underwriter.  “It used to be third-party liability; you were concerned about monitoring credit, and somebody sues you because of a hack,” said

Ransomware attack on a business computer
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Why ransomware is still a threat to your cyber clients

August 31, 2023 by Jason Contant

Ransomware is “almost certainly the most disruptive form of cybercrime facing Canada” because it’s pervasive and can have a serious impact on an organization’s ability to function, said a new report from the Canadian Centre for Cyber Security. However, it’s

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Cyberattack hits Canadian engineering giant with contracts for military bases, power plants

March 9, 2023 Lee Berthiaume - THE CANADIAN PRESS

OTTAWA – A Canadian engineering giant whose work involves critical military, power and transportation infrastructure across the country has been hit with a ransomware attack. Toronto-based Black & McDonald has so far refused to publicly comment on the cyberattack, while

Indigo refuses to pay ransom following cyberattack
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Indigo refuses to pay ransom, warns stolen employee data may be posted to dark web

March 2, 2023 Brett Bundale - THE CANADIAN PRESS

Canada’s biggest bookstore chain has warned employees that data stolen in a cyberattack may be posted on the so-called dark web after it refused to pay a ransom demand, Indigo Books & Music Inc. said Thursday. The retailer’s network was

Cybersecurity safety
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LCBO investigating cybersecurity incident

January 11, 2023 The Canadian Press

The Liquor Control Board of Ontario says a “cybersecurity incident” has knocked out its website and mobile app. The LCBO posted a brief statement to its social media pages Tuesday night saying a “full investigation” was underway. The provincial Crown