Operations
One long-term impact of the novel coronavirus pandemic may be an uptick in the sale of commercial cyber insurance policies, industry experts predicted during a recent Canadian Underwriter webinar. In addition, the pandemic may provide an opportunity for brokers to promote the sale of standalone cyber policies. One webinar panellist noted standalone policies generally provide […]
By David Gambrill | May 8, 2020
4 min read
Tech
Commercial clients are vulnerable to hidden risks when they have large numbers of people suddenly working remotely or from home in a disaster, as we are seeing in the pandemic, experts told brokers listening in to Canadian Underwriter’s latest webinar. “I think we have seen unexpected, hidden cyber risks emerge since this new way of […]
By Greg Meckbach | May 1, 2020
3 min read
Brokerages looking to manage their own cyber risk and advise commercial clients about their cyber risks should look to one major golden rule when employees work from home during the COVID-19 pandemic. “Your family members should not be using your company-issued device,” said Eduard Goodman, Global Privacy Officer of CyberScout. Absolutely, agrees Philomena Comerford, president […]
By Greg Meckbach | April 29, 2020
2 min read
Rural clients should be able to access the Internet at high enough speeds for brokers to offer them digital services, says one Alberta broker. “I would say there is no issue,” said Rob Barros, chief technology officer and chief communications officer for Alberta brokerage Leibel Insurance Group. “A client, provided they’ve got access to the Internet […]
By Greg Meckbach | April 24, 2020
The COVID-19 pandemic is putting renewed emphasis on digitizing of insurance processes including payments, claims, applications and signatures, a Canadian fintech venture capital executive suggests. “This is a good opportunity for fintech, because the acceleration of innovation in financial institutions is going to be even more prevalent,” said David Nault, co-founder and general partner of […]
By Greg Meckbach | April 23, 2020
COVID-19 has sharply increased the demand for telemedicine in Canada, and with it comes emerging risks and possible unexpected gaps in coverage for clients. Telemedicine – or using video, audio and other technologies to deliver preventive, diagnostic and treatment services – allows practitioners and patients to practice social distancing while at the same time ensuring […]
By Jason Contant | April 22, 2020
Brokers advising clients on cyber insurance during the COVID-19 pandemic will want to make sure there is an appropriate loss of income coverage under the policy, similar to other lines of insurance, a specialist insurer said recently. “If we were to say any time is the right time to buy a cyber policy, now would […]
By Jason Contant | April 8, 2020
Brokerages who are running into computer or telephone problems because they sent workers home during the pandemic could get useful tips from major technology vendors. For example, Extreme Networks Inc. advises its own workers not to rely on their WiFi connection at home, if at all possible. “If you can plug your own hard wire […]
By Greg Meckbach | April 7, 2020
If your brokerage sent its employees home to work on the assumption that all they need is a broadband Internet connection, things might not go as smoothly as planned. Most residential Internet service plans are “asymmetrical,” meaning the speed at which data is transferred to the home is much higher than the speed at which […]
By Greg Meckbach | April 4, 2020
Marriott says guests’ names, loyalty account information and other personal details may have been accessed in the second major data breach to hit the company in less than two years. Marriott said Tuesday approximately 5.2 million guests worldwide may have been affected. The information taken may have included names, addresses, phone numbers, birthdays, loyalty information […]
By Jason Contant | March 31, 2020
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