TORONTO – Canada’s biggest banks marked the official launch of the Verified.Me digital identity network on Wednesday, following years of development and testing with their partner SecureKey Technologies Inc. The banks see Verified.Me as the beginning of a more secure Canadian identity ecosystem for a world where technology is making it easier for criminals to […]
By Greg Meckbach | May 1, 2019
2 min read
What’s one easy piece of advice you can provide to your clients to help protect them from cyber-attacks? Change your passwords. Nearly one-third (30%) of people in Canada and the United States use the same passwords for all or most of their online accounts, potentially leaving them more vulnerable to cyber attacks. That was one […]
By Jason Contant | April 30, 2019
3 min read
Cyber attacks and data breaches are the Number 1 threat to businesses in North America, according to Aon plc’s newly released 2019 Global Risk Management Survey. Aon surveys thousands of risk managers across 60 countries and 33 industries every two years to identify key risks and challenges their organizations are facing. Cyber attacks/data breach topped […]
By Jason Contant | April 29, 2019
2 min read
A 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 degree in social justice,” said Rob Labbé, director of information security for Vancouver-based mining firm […]
By Greg Meckbach | April 29, 2019
3 min read
Artificial intelligence (AI) should be used to “connect the dots” between different data silos and decisions made within an insurance company, Charles Dugas, head of insurance at Element AI, said last week. The goal is to develop a system that builds a layer in between systems of engagement and systems of record. Systems of engagement […]
By Jason Contant | April 26, 2019
3 min read
Insurance risk categories in the future will become so small they will become very difficult to price properly, a speaker predicted earlier this month at the CIP Society Symposium in Toronto. The number of distinct risk transfer categories appears to be trending upwards exponentially, said Alex Daskalov, co-founder of Montreal-based KNØX, a company creating an […]
By Jason Contant | April 25, 2019
2 min read
Insurance companies or brokerages looking to acquire another company should perform due diligence not just on the financials of the target firm, but also its regulatory vulnerabilities during the M&A process. “The idea is to identify potential data breaches and cyber security problems before they become your problem,” said the blog Don’t Acquire a Company […]
By Jason Contant | April 23, 2019
3 min read
Managing 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,’” said Michael Eubanks, senior vice president of information technology and chief information officer for the […]
By Greg Meckbach | April 23, 2019
3 min read
Your 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 security is our number one risk’ … then the [chief security officer] probably hasn’t done […]
By Greg Meckbach | April 17, 2019
3 min read
Cyber 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 the pricing in the marketplace today and I think for buyers, that’s always problematic,” said […]
By Greg Meckbach | April 17, 2019
3 min read