Why this client can only recover $50,000 on a $2.7-million commercial crime claim
October 16, 2020 by Greg MeckbachAn electronics distributor that lost nearly $2.7-million because its accounts payable staff were duped by fraudsters cannot claim under policy wording covering funds transfer fraud, a Quebec court has ruled. In Future Electronics Inc. (Distribution) Pte Ltd. v. Chubb Insurance…
4th Top Story of 2020: Police charge man for murder in death of a Canadian P&C insurance executive
October 9, 2020 by David GambrillPeel Regional Police are investigating a domestic homicide near Toronto, after finding a woman who is believed to be a Canadian senior insurance executive pronounced dead at the scene. Police say they received a call for a disturbance in the…
More than half of Canadians have experienced a cyber crime: new policy group
July 10, 2020 THE CANADIAN PRESSTORONTO – A new policy group estimates more than half of all Canadians know they’ve been a victim or target of a cyber crime, such as a leak of personal information, an account hack or installation of malware. The report…
Commercial clients should do this before they leave for the day
January 16, 2020 by Greg MeckbachAre your clients checking the bathrooms before they leave work for the day? “The last thing you want is to leave someone with access to your property after the doors have been locked,” Northbridge Insurance noted in Closing time: Making…
Why liability and reputational risk is changing
May 15, 2019 by Greg MeckbachTechnology is making it easier for consumers and businesses to move money, but it can also create new liability risks, fraud experts warned Tuesday. “Financial institutions really have to think about their position on liability,” said Jas Anand, senior manager…
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.…
How fear of ‘jackbooted brownshirts’ complicates cyber risk management
May 11, 2018 by Greg MeckbachManaging the risk posed by the “dark web” is made all the more difficult by some people’s mistrust of police, a former top Royal Canadian Mounted Police officer suggested Thursday. “Cyber crime requires a different approach than just the preventative…