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Peace Hills Insurance Partners with BI&I to Provide Cyber Insurance Coverage

Edmonton, AB (Nov. 27, 2017) – Peace Hills Insurance is pleased to announce their partnership with The Boiler Inspection and Insurance Company of Canada (BI&I) to provide two new cyber risk coverages – CyberOne® and Data Compromise. Both coverages are currently available to commercial clients. “Our decision to offer CyberOne® and Data Compromise coverage comes… Read more »

Berkshire Hathaway Specialty Insurance Launches Network Security & Privacy Liability Insurance in Canada

Boston, MA (Nov. 14, 2017) – Berkshire Hathaway Specialty Insurance (BHSI) today unveiled the Professional FirstTM Network Security & Privacy Liability Policy in Canada, a solution that combines cyber liability and breach response coverage with risk management resources for commercial enterprises and financial institutions. “Our new policy simplifies the complex endeavor of managing cyber exposures… Read more »

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Burns & Wilcox Unveils Personal Cyber Extortion and Ransom Coverage

Detroit, MI (Nov. 1, 2017) – Burns & Wilcox, North America’s leading wholesale insurance broker and underwriting manager recognized throughout the industry for its expertise in Professional Cyber Liability, today announced the launch of a new, cutting-edge Personal Cyber insurance endorsement. The coverage includes ransomware and cyber extortion. This endorsement places Burns & Wilcox among… Read more »

New Cyber Alert App Provides Chubb’s Cyber Policyholders with Cyber Incident Response and Resources

Whitehouse Station, NJ (Nov. 14, 2017) – In response to the growing threat of cyber risks facing commercial enterprises, Chubb has introduced the Cyber AlertSM mobile application, which is designed to offer U.S. and Canadian commercial cyber customers rapid incident response options and resources in the event of a cyber incident. This innovative solution provides customers… Read more »

Cybercrime Concerns Limiting Canadians’ Use of Online Services

New Accenture Survey findings Toronto, ON (Nov. 6, 2017) – More than half of Canadian respondents (53 percent) say their concern about cybercrime is limiting their use of online services, according to a new survey from Accenture. Accenture’s 2017 Canada Cybercrime Survey also found high-levels of concern among citizens about cybercrime (80 percent), with more… Read more »

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Beazley reports nine-fold rise in data breaches due to social engineering

New York, NY (Oct. 24, 2017) – Specialist insurer Beazley’s third-quarter 2017 Breach Insights report reveals the rapid growth of social engineering* attacks – scams involving deception – as a cause of data breaches reported to the insurer by its clients. Fraudsters use social engineering attacks to prey on employees’ roles in their companies in… Read more »

Corporate concerns about cyber wane even as risks evolve

Zurich’s 2017 Advisen Cyber Survey reveals that fewer executives view cyber risk as a significant threat to their organizations New York, NY (Oct. 26, 2017) – Zurich Insurance has released the seventh annual Advisen cyber survey revealing the current state of and trends in information security and cyber liability risk management. A number of the… Read more »

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Organisations are failing to prepare effectively for cyberattacks

Leadership commitment, resilience and collaboration critical to success: PwC Forty percent of survey respondents cite the disruption of operations as the biggest consequence of a cyberattack, followed by the compromise of sensitive data (39%), harm to product quality (32%), and harm to human life (22%). Forty-four percent of the 9,500 executives in 122 countries surveyed… Read more »

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Cyber Insurance: A Growth Opportunity with Unique Risks

Fitch Ratings’ Report: Cyber Insurance — Risks and Opportunities (Global Non-Life Insurer Underwriting Exposures Examined) Chicago, IL (Sept. 27, 2017) – Cyber insurance has been a profitable business line for early market entrants and is a rapid growth segment, with global premium volume set to increase six- to eightfold within a decade, Fitch Ratings says…. Read more »

Half of U.S. Businesses Have Been Hacked

Business Owners Worry about Data as Cyber Attacks and Costs Rise Hartford, Conn. (Sept. 28, 2017) – More than half of U.S. businesses (53 percent) have experienced a cyber attack in the past year, according to a survey of business executives released today by The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich… Read more »