Segment
Risk Management
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.…
Oil spill off Newfoundland shore can’t be cleaned up
November 22, 2018 Holly McKenzie-Sutter - THE CANADIAN PRESSJOHN’S, N.L. It’s now impossible to clean up Newfoundland’s largest-ever oil spill that leaked into the ocean last week, according to the regulatory board that oversees the province’s offshore activities. The 250,000-litre spill happened on Friday morning while Husky Energy’s…
Exclusive partnership will extend MGA’s cyber offerings
November 21, 2018 by Jason ContantManaging general agent Burns & Wilcox has announced an exclusive partnership with a cybersecurity company to pair its specialty insurance products with data breach monitoring and notification services. The partnership with London, UK-based BreachAware, which specializes in data breach research…
How fraudsters can dupe even tech-savvy risk analysts
November 20, 2018 by Jason ContantThink it’s just your clients that can get tricked into revealing personally identifiable information (PII)? Not always. A recent experiment has shown that even tech-savvy individuals are willing to provide PII without due diligence. A Vancouver-based global identity and business…
The Top 3 risk concerns for Canadian executives
November 19, 2018 by Jason ContantBusiness executives in Canada and the United States say economic risk (21%) is their primary concern, followed closely by cyber risk (20%) and technology risk (16%). CNA Hardy released its first global Risk and Confidence Survey Monday. While over two-thirds…
How risk of explosion arises from marijuana legalization
November 19, 2018 Bill Graveland - THE CANADIAN PRESSCALGARY – Alberta law enforcement officials say they are worried that the legalization of marijuana could lead to potentially explosive consequences for users taking a do-it-yourself approach to making cannabis derivatives at home. Just over a month ago, Canadians were…