Segment
Risk Management
What workers need to learn about cyber security
December 10, 2018 Joyce M. Rosenberg - THE ASSOCIATED PRESSNEW YORK – It may seem obvious: Companies’ computers, mobile devices and accounts need secure passwords. But many small business owners don’t take the time to educate staffers about these very basic forms of cybersecurity. And staffers may not know…
How to grow in an era of new, intangible business risks
December 6, 2018 by David GambrillAs business risks become more global, interconnected and less tangible, brokers and insurers should expand their dialogue with clients about loss mitigation or loss prevention, the chief executive of CNA Canada says. “An insurance policy today isn’t really enough,” CNA…
Canadians among 500 million potentially affected by data breach
December 6, 2018 by Jason ContantTORONTO – Canadians have started receiving emails from Marriott International, informing them of a recent breach of customers’ personal data held by their Starwood hotel properties. The U.S.-based hotel giant, which is also behind brands including W Hotels, St. Regis,…
The real risk to SMEs from data breaches
December 4, 2018 by Jason ContantChanges to Canadian privacy laws expose small and medium-sized enterprises (SMEs) in Canada to potentially higher compliance costs and civil liability in the event of a data breach, according to a new report from commercial insurer Aon. On Nov. 1,…
Data breach risk prompts new Ontario legislation
November 30, 2018 by Greg MeckbachRecent backlashes against Statistics Canada and Facebook have prompted Ontario lawmakers to make it harder to share consumer banking information. “Financial data is especially vulnerable to hacking,” Stephen Crawford, Ontario MPP for Oakville, said Thursday at Queen’s Park in Toronto.…
Half a billion could be affected by hotel data breach
November 30, 2018 THE ASSOCIATED PRESSBETHESDA, Md. – A security breach at one of North America’s largest hotel groups, which includes the Sheraton, Westin, Starwood and Marriott brands, has exposed the personal information of as many as 500 million guests. Marriott International, Inc. said Friday…
Two charged in 2016 ransomware attack that hit University of Calgary
November 29, 2018 The Canadian PressCALGARY – The FBI says it has charged two men in Iran as part of an investigation into cyberattacks that targeted the University of Calgary and computer networks in the United States. The university paid a ransom of $20,000 after…
Why this commercial line is unprofitable
November 27, 2018 by Greg MeckbachCommercial brokers could see fewer carriers offering directors and officers (D&O) liability in the future. That’s because “market consolidation is something that you might see on the carrier side,” said Ian Fraser, assistant vice president of technology, cyber and professional…
700-million D&O lawsuit arises from failed Ottawa NHL arena deal
November 26, 2018 THE CANADIAN PRESSOTTAWA – Senators owner Eugene Melnyk is suing his business partner for $700 million in a development deal that was meant to bring a new NHL arena to Ottawa’s downtown. Capital Sports Management Inc., a group controlled by Melnyk, said…
The single most important factor to successful AI adoption
November 24, 2018 by Jason ContantThe key to rebranding as an artificial intelligence (AI) company is tapping into an “ultra-specialized talent pool” with a deep understanding of the field, says the chief science officer at Royal Bank of Canada. “It’s impossible to overstate the importance…
How Canada’s largest banks manage cyber risk
November 23, 2018 Armina Ligaya - THE CANADIAN PRESSTORONTO – Hackers are targeting Toronto-Dominion Bank’s internal systems at all hours using cutting-edge techniques, but the bank’s head of cybersecurity isn’t losing sleep over them – they work for him, after all. The bank established late last year an…
Is your client properly insured for computer crime?
November 22, 2018 by Greg MeckbachBrokers placing commercial insurance for the risk of theft should pay close attention to exclusions. Exclusions on some policies covering crime losses for financial institutions may be leaving a gap in cover computer crime, a new paper from Marsh Inc.…