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ransomware

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What the P&C industry is telling Wall Street about cyber risk

February 9, 2021 by Greg Meckbach

Commercial insurers are taking a good look at their exposure to widespread cyber events and some are forming partnerships with tech vendors in the hopes of improving their clients’ cyber risk management. “The next pandemic – the exposure that looks

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New Brunswick city rebuilding its IT system after major cyberattack

January 15, 2021 The Canadian Press

Saint John, N.B., is rebuilding its computer network rather than submitting to criminals who launched a cyber attack against the city in November. City manager John Collin updated council Monday on the city’s efforts to rebuild its IT system following

News Insurance

Demystifying cyber’s first hard market

November 12, 2020 by David Gambrill

Cyber insurance is a relatively new line of business in Canada and so it hasn’t seen any hard markets historically — until now, that is. And it seems that insurers have ransomware to thank for that. “I think it is

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Locked-up computer systems only part of ‘terrifying’ ransomware scourge

September 28, 2020 Colin Perkel - THE CANADIAN PRESS

TORONTO – A shadowy group of cyber criminals that attacked a prominent nursing organization and Canadian Tire store has successfully targeted other companies with clients in governments, health care, insurance and other sectors. Posts on their NetWalker “blog” indicate the

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How a cyberattack on a Canadian insurance courier affected brokers and carriers

August 26, 2020 by Jason Contant

Some Canadian brokerages and insurers recently experienced delays in mail pick-up and delivery after a prominent courier service for the Canadian insurance industry suffered a cyberattack. ICS Courier confirmed in a message on its website Monday that it was the

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Why hackers are zeroing in on your manufacturing clients

July 10, 2020 by Adam Malik

Online hackers are targeting manufacturers because they’re between a rock and a hard place: Pay up or see operations grind to a halt. All sectors are susceptible to data breaches, ransomware attacks and phishing, but criminals are narrowing their focus

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Ransomware’s latest victim: a child welfare authority

November 25, 2019 The Canadian Press

HEADINGLEY, Man. – An Indigenous child welfare authority in Manitoba has called in the RCMP after being hit by a cyberattack that’s corrupted its computer files and potentially compromised the privacy of its clients. Southern First Nations Network of Care

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Computer woes continue for government after cyber attack

November 7, 2019 The Canadian Press

IQALUIT, Nunavut – The government of Nunavut is still struggling with computer systems paralyzed by a cyber attack last weekend. “Network recovery is ongoing as the (territory) works to uncover information, prepare recovery plans and work on department priorities,” said

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Government services affected by weekend ransomware attack

November 4, 2019 The Canadian Press

IQALUIT, Nunavut – Crucial Nunavut government services from health to justice were still impaired Monday after a weekend cyberattack locked out civil servants from access to electronic information. “We are working non-stop to resolve this issue,” said Premier Joe Savikataaq

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Insurers reveal a popular attack of choice for cyber-criminals

November 1, 2019 by Jason Contant

Another insurer is reporting a rise in ransomware attacks. Specialist insurer Beazley said Thursday that the targeting of IT vendors by cyber criminals contributed to a 37% increase in reported ransomware incidents in the third quarter of 2019 compared to

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Chubb finds ‘alarming’ rise in ransomware attacks

October 23, 2019 by Adam Malik

Malware cyber attacks are on the rise compared to one year ago, according to Chubb, with a new type of strain on the rise. The first half of 2019 has seen more ransomware attacks than 2018, catching the eye of

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Payouts from insurance policies may fuel ransomware attacks

September 20, 2019 Kathleen Foody - THE ASSOCIATED PRESS

CHICAGO – The call came on a Saturday in July delivering grim news: Many of the computer systems serving the government of LaPorte County, Indiana, had been taken hostage with ransomware. The hackers demanded $250,000. No way, thought County Commission