Cyber Insurance

Confronting The Risk That Goes Along With Embracing Technology

Confronting The Risk That Goes Along With Embracing Technology

One out of every five businesses will fall victim to a cyber attack. Not being part of that statistic requires confronting the risk that goes along with embracing technology. IT’S HAPPENED more often than I can count. People – from the guy who cuts my hair to the CPA I meet at a party – hear that I work in cyber insurance, and they proceed to ask me how they can protect themselves. I end up talking about cybersecurity a lot. At my last doctor’s appointment, I noticed that my primary care physician had transitioned from paper to patient files to a cloud-based record management system. After proudly showing off his new iPad, my doctor proceeded to ask me about cybersecurity. I was glad he did – security considerations aren’t always front of mind when adopting new technologies, yet it’s…read more →

Phishing Scams: Easy Tips To Avoid Them

Phishing Scams: Easy Tips To Avoid Them

Phishing Scams: Easy Tips To Avoid Them Phishing emails are built on a simple premise. Hackers access sensitive information – the kind of information that only the victims would know – and then use this to convincingly impersonate a company’s CEO or other internal employee, client, customer, or supplier. These emails usually fall into two categories: those targeting data or those targeting money. The trouble is that phishing scams can look amazingly genuine because they often incorporate real information. Although you might not be able to spot them at first, the good news is that a little extra vigilance will go a long way in preventing the hackers from getting what they want. DATA Whenever you receive a request to transfer sensitive data, it’s a good idea to first verify the authenticity of the request by speaking to the sender…read more →

What Your Business Can Learn From The Equifax Data Breach

What Your Business Can Learn From The Equifax Data Breach

The Equifax hack exposed the personally identifiable information of 143 million people , including 100,000 Canadians, and has created a tremendous ethical, public relations, and legal dilemma for the company. Stakeholders are looking for information to understand what happened. The key question: How was the Equifax data compromised? The cost of the Equifax breach is likely to be greater than the Target breach. A class action lawsuit has already been filed that seeks as much as $70 billion in damages. While the Equifax infrastructure is likely smaller than Target’s, the financial exposure is greater. Marketing, security, and disaster recovery professionals will be analyzing Equifax’s initial response as a case of what not to do. However, business owners need to focus on how not to become another Equifax. Any minimally capable security program considers that protection will fail, so detection is as important, if not…read more →

Canadians Among Those Affected by Equifax Data Breach

Canadians Among Those Affected by Equifax Data Breach

Equifax, one of the largest credit reporting agencies in the United States, was recently the victim of a massive cyber attack—an attack that may have compromised the personal information of 143 million people – including 100,000 Canadians. Impacted individuals were not simply limited to the United States either, as the hackers gained unauthorized access to personal information of approximately 100,000 Canadian residents. Initial reports suggest 209,000 credit card numbers were stolen in the attack, some of which belong to international customers. The breach itself occurred between mid-May and July 2017 when cyber criminals gained access to sensitive data by exploiting a weak point in website software. In the United States, sensitive information like Social Security numbers, birthdays, addresses and driver’s licence numbers were compromised. The recent attack on Equifax is the third major cyber security threat the organization has experienced…read more →

Just 1 Ransomware Attack Can Cost A Company Thousands!

Just 1 Ransomware Attack Can Cost A Company Thousands!

The incidents of ransomware in Canada are rising at an alarming rate. In 2015, Canadians were affected by 1,600 ransomware attacks a day. By September 2016, the number of attacks nearly doubled, and those are only the known cases. Unfortunately, many incidents still go unreported. Businesses of all sizes have become targets of ransomware, as it can infect not only personal computers, but also entire networks and servers. What is Ransomware? Ransomware is malicious software that infects a computer and denies access to the system or data, and demands a sum of money to restore the information. Presently, the most common forms of ransomware will encrypt data. Victims often receive an onscreen alert stating their files have been encrypted or a similar message, depending on the type of ransomware. The message on the lock screen may even claim to come…read more →

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