Tech
If you are led to believe most of your clients will get around in self-driving cars within a decade, you might want to think again. “Autonomous vehicles will likely not be on our roads for at least another 25-30 years, and that is a conservative estimate,” said Kristine D’Arbelles, senior manager of public affairs for […]
By Greg Meckbach | May 29, 2019
3 min read
Not only is the frequency of ransomware attacks skyrocketing, attackers are targeting larger organizations and demanding higher ransom payments. Specialist insurer Beazley released its Beazley Breach Insights report for May last week, finding that ransomware attack notifications against clients increased 105% in the first quarter of 2019 compared to one year earlier. There was also […]
By Jason Contant | May 29, 2019
2 min read
Brokers advising their clients on cyber security will want to take note of new research that identified nearly 100 malicious email campaigns that were specifically targeted at Canadian organizations or were customized for Canadian audiences. “Much of this is due to Emotet,” said a blog Thursday from cyber security company Proofpoint, referring to a type […]
By Jason Contant | May 27, 2019
Operations
While online quote and bind systems have historically been cumbersome, one specialist insurer will soon offer a cyber insurance platform with single-question quoting capabilities. Using a single piece of client data, brokers will be able generate a cyber insurance quote tailored to their client’s unique risk profile, as well as coverage variations most commonly requested […]
By Jason Contant | May 23, 2019
The controversy over telecommunications equipment from Chinese manufacturer Huawei is just the tip of a large cyber risk iceberg, an Internet security expert warns. “The question is, should we trust the country in which the company whose products and services you are using resides in?” said Bruce Schneier, a special advisor to IBM Security, during […]
By Greg Meckbach | May 22, 2019
An insurtech that positions itself as the first Canadian company to specialize exclusively in tenant insurance has launched after months of research and development. Montreal-based Allset launched last week, using a “matching” algorithm to compare the tenant’s needs to over 10 insurance companies’ offers in real time to find the best coverage. Allset reports on […]
By Jason Contant | May 22, 2019
If your client offers loyalty and rewards programs, they may want to keep a closer eye on securing these “non-traditional risk points” from cyber criminals. Earlier this year, several McDonald’s customers in Canada complained that criminals had breached their accounts on the restaurant chain’s loyalty app and placed unauthorized orders, some totaling more than $1,000, […]
By Jason Contant | May 21, 2019
Biometrics and two-factor authentication will become more popular tactics for mitigating cyber crime risk, a British Columbia credit union executive predicts. “I feel like I do a lot of biometrics,” said Marilyn Mauritz, chief transformation and governance officer at Vancouver-based Central 1 Credit Union, during a panel discussion at the recent Payments Canada Summit in […]
By Greg Meckbach | May 17, 2019
As the federal government drafts regulations related to recent Bank Act amendments, the Insurance Brokers Association of Canada (IBAC) is confident that the fundamental aspects of their position have been upheld. Bill C-74, which received royal assent in June 2018, proposed amendments to the Bank Act to give banks additional powers regarding the ability to […]
By Jason Contant | May 17, 2019
Allstate Insurance Company of Canada has joined the ranks of insurers providing telematics apps. Allstate Canada said Monday it has debuted a “personalized app for the modern driver” as National Road Safety Week (May 14-20) kicks off in Canada. Several other insurers, including Intact and Desjardins, have apps based on telematics, which monitor driving behaviours. Allstate […]
By Jason Contant | May 16, 2019
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