Canadian Underwriter

News RiskTechnology

Small business clients are making these cyber security errors

April 16, 2021 by Greg Meckbach

Failure to install patch updates, relying too much on passwords, and failure to train employees are three sources of cyber security losses all too common among small business clients, a technology vendor suggests. One of the most common cyber security

News Insurance

Watchdog says some Microsoft Exchange servers in Canada affected by security gap

March 17, 2021 David Paddon - THE CANADIAN PRESS

TORONTO – Canada’s main cybersecurity watchdog has issued another warning that organizations of all sizes need to protect themselves from a recently discovered vulnerability in Microsoft Exchange email servers. The Canadian Centre for Cyber Security said it has received reports

News Insurance

Going phishing with COVID as the lure: How many Canadians rose to the bait

March 9, 2021 by Jason Contant

Canadian cyber insurers take note: Canada ranked within the Top 20 countries for COVID-themed cyber threat detections last year, according to cybersecurity company Trend Micro. Globally, Trend Micro detected nearly 16.4-million cyber threats over the course of 2020, including malicious

News Insurance

Hackers don’t care about your client’s data. Here’s what they really care about…

March 8, 2021 by Jason Contant

Businesses falling victim to cyberattacks often don’t realize that the value of data they store is not what’s important to hackers, it’s the value of the data to the company, Crawford & Company (Canada) said in a recent whitepaper. “It

News Insurance

Two emerging trends in D&O liability

March 2, 2021 by Jason Contant

Cyber claims morphing into directors’ and officers’ liability and the increased sophistication of the plaintiff bar in Canada are two emerging trends in D&O lines, HDI Global Specialty SE – Canada told Canadian Underwriter recently. Oren Schemool, head of financial

News Insurance

Complaints spike as taxpayers’ watchdog to review CRA handling of locked accounts

February 26, 2021 Jordan Press - THE CANADIAN PRESS

OTTAWA – The federal taxpayers’ watchdog says complaints to his office spiked in the hours after he went public with concerns about how the Canada Revenue Agency locked users out of their online accounts. The accounts were locked just over

News ClaimsClaims CanadaCommercial LinesRiskTechnology

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

News Insurance

New Maritime research centre to fight cyber pirates

January 28, 2021 Jean-Benoit Legault - THE CANADIAN PRESS

MONTREAL – A new research centre created at Montreal’s Polytechnique university will aim to protect ships from pirates – and they’re not talking about Blackbeard or Captain Kidd. Canada’s Maritime Cyber Security Centre of Excellence will combine the expertise of

News Insurance

Cyber cops in 9 nations, including Canada, team up to disrupt dangerous malware

January 27, 2021 Mike Corder - THE ASSOCIATED PRESS

THE HAGUE, Netherlands – Law enforcement authorities in several countries have joined forces to disrupt what they call one of the world’s most dangerous pieces of malware, one that allowed criminal gangs to install ransomware and steal data from computer

News ClaimsClaims CanadaCommercial LinesRiskTechnology

How social media can be a cyber attack vector

January 15, 2021 by Greg Meckbach

Cyber criminals are increasingly targeting workers through applications such as LinkedIn, WhatsApp, Facebook and Twitter, McAfee LLC warned in a report released Wednesday. Traditionally, cyber criminals have relied heavily on phishing as a way to target individual employees, McAfee chief

News Insurance

Why you shouldn’t treat cyber policies like auto or property policies

January 14, 2021 by Adam Malik

Many brokers and insurers are treating cyber coverage the same way they would a generic home, auto or CGL cover, a cyber expert warns, and this is not only eroding the trust of clients, but also putting them at risk.

News Insurance

When phishing links are dangled before insurance professionals, do they go for the bait?

December 10, 2020 by Jason Contant

There’s good news and bad news when it comes to insurance industry employees clicking on phishing email links, according to a recent study from a Laval, Que.-headquartered security awareness training firm. The good news is that global “finance & insurance”