When cyber breaches can kill
May 15, 2019 by Greg MeckbachYour client’s property and life are getting increasingly exposed to cyber attacks because just about everything today has computing power, an information security expert warns. “It used to be what with computer security, we were worried about computers, desktops and…
Loblaws cyber risk manager weighs in on cloud computing security
May 3, 2019 by Greg MeckbachWhile cloud computing can introduce a whole new level of cyber risk, it can also help bolster a client’s information security, the cyber risk manager for one of Canada’s largest retailers suggests. “I will say without any hesitation, as I…
Why it’s hard for insurers to price cyber risk
May 1, 2019 by Greg MeckbachIt’s hard for an insurance company to price cyber because clients are reluctant to report losses, industry experts suggest. “You need historical incidents to understand the types of events out there,” Scott Stransky, assistant vice president and principal scientist in…
What a liberal arts gaming enthusiast can bring to the cyber security table
April 29, 2019 by Greg MeckbachA priest or minister could help your client manage cyber risk, and it’s not by praying that cyber criminals will leave your client alone. “My latest three hires have been a theologian, a political scientist and somebody who has their…
Help your client overcome the stigma of the “breach” word
April 23, 2019 by Greg MeckbachManaging cyber risk effectively means considering the business objectives and setting rules on who can declare a breach has occurred, speakers told insurance professionals at a recent conference. “There is a big connotation as it relates to the word ‘breach,’”…
Should your clients have a chief security officer on the board?
April 17, 2019 by Greg MeckbachYour client may or may not not need a chief security officer [CSO] on its board of directors, but cyber risk should nevertheless be high on its radar screen, speakers told insurance professionals Tuesday. “If the board doesn’t say, ‘Cyber…
Cyber pricing: Have carriers got it right?
April 17, 2019 by Greg MeckbachCyber insurance is a good tool to help clients understand their vulnerabilities, but carriers need to do a better job of pricing according to risk, speakers suggested at a recent conference. “There seems to be a lot of spit-balling on…
How privacy breach lawsuit could get more expensive for Equifax
March 25, 2019 by Greg MeckbachEquifax may have to defend itself against separate privacy class action lawsuits in at least two Canadian provinces as a result of a cyber breach in 2017. A cyber insurance claim can be triggered when a client is subject to…
How your client’s directors could be blamed for cyber losses
February 14, 2019 by Greg MeckbachCyber risk awareness is on the rise among corporate directors, who could face liability risk if they are accused of being lax on governance. “Corporate clients are more likely to be aware today, compared to a few years ago, of…
Why the cyber market has become so crowded
January 31, 2019 by Greg MeckbachClients shopping for cyber insurance today can choose from among far more carriers than they could a few years ago, because it’s such a profitable line of business. However, one reason cyber is more profitable than other lines of coverage…
This province lacks ‘reasonable’ cyber security: privacy commissioner
January 15, 2019 Keith Doucette - THE CANADIAN PRESSHALIFAX – A pair of reports slam the Nova Scotia government for failing to protect personal information, saying the risk management around its freedom-of-information website was inadequate and a privacy breach last year was preventable. In his report released Tuesday…
Marriott data breach could cost over $200 million: AIR
December 20, 2018 by Greg MeckbachThe hacking of a hotel reservation system affecting Sheraton, Westin, Starwood and Marriott could cost up to $600 million for direct losses alone, AIR Worldwide said this week. AIR, a subsidiary of Verisk Analytics Inc. that produces catastrophe loss models,…