Tech
Do elements of cybercrime, such as social engineering fraud and phishing scams, belong on a traditional crime insurance policy or should they be part of a cyber policy? The answer to that question depends on which carrier you ask. “There’s some debate in the market between carriers as to whether they still belong on a […]
By Jason Contant | April 19, 2018
2 min read
Sheldon Wasylenko is among the brokers acclaimed Tuesday to the board of directors of the Centre for Study of Insurance Operations (CSIO). Wasylenko previously served as president of the Insurance Brokers Association of Saskatchewan. He also serves on the board of the Insurance Brokers Association of Canada (IBAC), which recruited him as technology champion. By […]
By Greg Meckbach | April 18, 2018
More than a dozen Canadian property and casualty insurers are using standardized codes to denote coverages, endorsements and discounts in broker’s databases. Thirteen insurer members of the Centre for Study of Insurance Operations ‘are now 100% standards-compliant,” meaning they are no longer using Z-codes, CSIO president and chief executive officer Catherine Smola said Tuesday. CSIO […]
3 min read
With work continuing to enable real-time data exchange between brokers and insurers, the next logical step would be to bring consumers into the fold. Pat Durepos, leader at software vendor Keal Technology, said that he sees consumer access to data in real-time as “the next big thing.” He used the example of a broker, carrier […]
By Jason Contant | April 17, 2018
Listening to clients’ exposures before offering them a cyber policy could go a long way in selling the right coverage, a cyber insurer told Canadian Underwriter Monday. “By asking the question: ‘What keeps you up at night and what do you look at as your biggest cyber exposure?’ for them can really open up the […]
Brokers need to stay on top of constantly emerging cyber threats, as cybercriminals continue to adapt their techniques, particularly around ransomware. Criminals are still very successful, says Matt Hartley, vice president of global services and intelligent engineering with cybersecurity company FireEye. “They’re still making money and so long as they’re making money, they’re going to […]
By Jason Contant | April 14, 2018
Cyber insurance application forms can give companies a “good understanding” of how well prepared they are to deal with an information security-related loss, speakers said Thursday at the International Cyber Risk Management Conference in Toronto. “We have seen clients stop right in the middle of the application process and say, ‘ You know what? We […]
By Greg Meckbach | April 14, 2018
Facebook, Twitter and similar web services can suck up a lot of a worker’s time, but insurance brokers should figure out how to use social media to support the business. “There is nothing supremely special about social media,” said Kat Macaulay, a Calgary-based social media consultant, in a recent interview. “It’s just another way for […]
Legal / Regulation
The upcoming mandatory requirement to disclose data breaches will help address some of the anxieties that Canadians have about cybersecurity and data protection, and may prescribe some precautions that organizations can take for remediation. What would these precautions look like? Think Ashley Madison, according to Chantal Bernier, a former interim head of the Office of […]
By Jason Contant | April 13, 2018
Although mobile apps make it easier to rent rooms, some insurers have probably not considered the risks arising from short-term accommodations, speakers said Tuesday at Swiss Re’s annual breakfast meeting in Toronto. At the same time, they added, it should be fairly easy to insure the risks arising from short-term accommodations. “Think about Airbnb,” Don […]
By Greg Meckbach | April 13, 2018
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