January 29, 2018
On October 13th, 2017, the BC Ministry of Environment launched “world leading” new spill preparedness, response and recovery requirements to address public concerns regarding the impact of spills of regulated substances on the environment and the general public.
ICBC welcomes and plans to work with its insureds in the event of a spill.
Below are amendments to the Environmental Management Act:
1. Environmental Management Act...
January 19, 2018
Many regions in Canada have experienced a surge in cargo theft for 2017. According to the Insurance Bureau of Canada, there were calculated losses of $181 million in stolen cargo and equipment between 2014 and 2017. In the first quarter of 2017 alone, over $20 million in stolen cargo and equipment was reported; keeping in mind that there are many other thefts that go unreported so this total could actually be much higher.
Top Target Products...
October 03, 2016
In a world that is more connected and accessible than ever, the declaration of October as national Cyber Security Awareness Month by governments and business leaders in several countries including Canada, the United States, and Australia, is a strong statement that cyber security is an international safety concern.
The campaign aims to bring awareness to the wide scope of concerns; this includes internet security, privacy, mobile safety,...
June 23, 2016
Ransomware is a type of malicious software that is designed to block access to data on a computer, or sometimes even the computer system itself until the owner pays a ransom for its release.Ransomware can arrive on a computer system the same way any other malware does. The difference with malware and ransomware is that usually those who install ransomware to hold the data hostage are usually not able to breach the data themselves.Here are 7 ways...
April 29, 2016
Canadian mining company Goldcorp Inc. has confirmed on April 28th, 2016 that the company’s network has been compromised following a massive cyber breach. This makes them the second Canadian gold miner to be hacked since 2015.
Goldcorp Inc. is currently working to determine the full scope and impact of the incident; however 14.8 gigabytes of private employee data, banking information, wire transfers, payroll information, international...
April 04, 2016
Cyber-attacks and data breaches are amongst the top threats that are usually top of mind for risk managers and the insurers who whelp them. Most risk managers understand that it is no longer a question of “if” but instead “when” their company will experience an incident.
According to a recent IBM report (2015 Cost of Data Breach Study), the per-record cost of a data breach reached $154 in 2015, up 12% from $145 in 2014....