Hubbard Hires Alert!

Hubbard Hires Alert!
We are delighted to announce the addition of Jeanette Sangalang-Dela Paz to the Hubbard Insurance Group as a Personal Insurance Advisor! Jeanette brings with her over 13 years of experience in the personal insurance industry in client service, business development, compliance, and claims assistance. At Hubbard, we put an emphasis on the personal... touch and we are confident Jeanette is in the same mold. She is an expert at building relationships and helping her clients in the ways that work best for them. Jeanette aims to meet your insurance needs through all of your life changes. We are very excited to have Jeanette on the Hubbard team! More
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Cyber Crime and Transport

Cyber Crime and Transport
The concept seems a strange one. Why would cyber criminals go after transport? The usual suspects when it comes to cybercrime tend to be financial institutions – such as the recent hacks on Desjardins and Capital One. The answer, though, is rather simple. Cyber criminals go wherever there is technology. If that technology can be exploited in a boo...ming industry, then they’ve basically hit the jackpot.  This is what is happening in the transport industry. There has been substantial growth in the transport industry largely spurred on by the introduction of innovative technology. How have we seen technology benefiting and making a greater presence in the transport industry?     1. Interconnected networks has streamlined industry-related processes e.g. the introduction of route planning incorporated with GPS services so that the best route is always readily available. 2. Improvements in safety features e.g. accident prevention sensors reducing the number of collisions on the road 3. Driver monitors censoring important physiological details such as fatigue or intoxication furthering keeping the roads safe To make sure that all this technology is being used effectively and efficiently, most organizations within the transport industry rely on centralised IT systems. This means that all of the necessary information regarding vehicles, their cargo, and the drivers can be stored in one place. However, as much as technology increases profits, it also increases vulnerability. The transportation industry has adopted technology at such a fast pace that the infrastructure to keep these IT systems secure hasn’t had a chance to catch up. This means that cyber criminals often target centralised IT systems to isolate and take control of cargo and equipment. If a hacker is able to gain access to the centralised system, then they have the entire organisation in the palm of their hands. The damage that can be done from such a position could be immeasurable. Let’s look at cargo as an example. A new tactic, called “fictitious pick-up”, is the current hottest trend with cyber criminals. In this crime, these criminals search for valuable loads on online load boards and, using false information, obtain contracts. Then it’s a simple matter of showing up with a truck, driving to the point of collection, and leaving before anyone is any the wiser. There is also business identity theft – where criminals create false documentation in a company’s name, learn pick-up locations and company information through online systems, and then arrive at the agreed-upon pick-up points to steal cargo. Ransomware is the cybercriminal’s bread and butter – and the transport industry is no exception to this. Hackers can implement ransomware to hijack a truck’s control system in order to suspect deliveries and strand drivers until the demanded ransom has been paid. In fact, a study from the University of Michigan found that trucks are far easier to hack into and control than a regular car. It seems crazy but because technology is so strongly integrated in these vehicles, hackers can break into these control panels and disable the brakes or affect the acceleration. It is a scary reality. Companies around the world lose hundreds of millions of dollars every year due to different forms of cyber breaches. The transport industry is no exception to this. At this point, you will want to know if you’re at risk. The simple answer is that if you don’t have protection against cybercrime, you are at great risk. As discussed in previously, cybercriminals are increasingly targeting medium-to-small sized businesses. Many may think that, since their company is not a big multinational corporation, that they are safe from this risk. Sadly, that just isn’t true. Smaller organizations lack the resources and in-house teams to tackle massive breaches and therefore are targeted at an increased rate. If you are concerned about your company’s safety, contact one of our licensed brokers today at This email address is being protected from spambots. You need JavaScript enabled to view it. document.getElementById('cloak7eac9af62f1e44797db16547e1fe32f5').innerHTML = ''; var prefix = 'ma' + 'il' + 'to'; var path = 'hr' + 'ef' + '='; var addy7eac9af62f1e44797db16547e1fe32f5 = 'better' + '@'; addy7eac9af62f1e44797db16547e1fe32f5 = addy7eac9af62f1e44797db16547e1fe32f5 + 'hubbardinsurance' + '.' + 'com'; var addy_text7eac9af62f1e44797db16547e1fe32f5 = 'better' + '@' + 'hubbardinsurance' + '.' + 'com';document.getElementById('cloak7eac9af62f1e44797db16547e1fe32f5').innerHTML += ''+addy_text7eac9af62f1e44797db16547e1fe32f5+''; or call us at 905-696-9090. Let us help you stay protected. More
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Driver's Listing Reminder Alert

It has become much more important that we keep our drivers listing current and that we not allow anyone who is not listed as a driver to use one of our units.  While there was a time that as long as the driver was legally licensed to drive, we could ‘technically’ allow any driver to drive our vehicles. However, the insurance companies have bec...ome much more strict with this filed underwriting rule and will move to non-renew a policy;  if a vehicle is involved in a claim and “A driver is unknown, unreported, unapproved or non-declared” including unlicensed (i.e.: suspended). Insurance companies have been moving much more aggressively to non-renew policies, making getting insurance with another company very difficult and most certainly more expensive. More
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Desjardins Cyber Attack Much Worse Than First Thought

Desjardins Cyber Attack Much Worse Than First Thought
The Desjardins cyber breach is far worse than it initially seemed according to a new statement from the company.   In a statement released by Guy Cormier, the president and chief executive of Desjardins, it was announced that over 4.2 million members had their information entirely compromised. This number is significantly higher than the init...ial near-3 million figure that was released in June earlier this year. At this time, there are thought to be no additional suspects. The ramifications of this breach will undoubtedly be felt far and wide – with a class-action lawsuit already in place against the company. As the largest federation of credit unions in North America, it is clear that millions of people will be affected by this breach for time to come.   More
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RISK Management, Insurance Directors & Officers Liability - Survey Results

A 2016 Private Company Risk Survey shows that more than one in four Canadian private companies surveyed experienced a Directors & Officers (D&O) liability loss in the past three years — and 97 percent of those companies were impacted financially. Such losses impact companies of all sizes and industries, ranging from construction, to manufac...turers, to retailers and more.                                                                         Despite the frequency and impact of these events, many private companies have not purchased D&O insurance to help manage their risks. Why? Because non-buyers mistakenly believe the coverage is unnecessary, either because they are privately held or family run.   This belief stems from the misconception that most suits or fines are brought by shareholders, which is commonly the case in the more highly publicized suits brought against public companies. But for private companies, suits from customers, vendors/suppliers and other third parties most prevalently lead to losses.   Even more alarming, when a non-buyer does experience a D&O loss, the average cost is over $200,000 — a sum that can have a serious and potentially devastating impact on any organization’s balance sheet.                                                                                                        Based on information collected by Chadwick Martin Bailey from 412 decision-makers for firms’ management and professional liability risk management and insurance coverage for businesses within select industries in Canada.   SOURCE: Chubb Insurance   For more information, contact:   John Hubbard RIB, CAIB, CCIB President, Corporate Risk This email address is being protected from spambots. You need JavaScript enabled to view it. document.getElementById('cloak993c3d40cd79c7881b46253f70817970').innerHTML = ''; var prefix = 'ma' + 'il' + 'to'; var path = 'hr' + 'ef' + '='; var addy993c3d40cd79c7881b46253f70817970 = 'john' + '@'; addy993c3d40cd79c7881b46253f70817970 = addy993c3d40cd79c7881b46253f70817970 + 'hubbardinsurance' + '.' + 'com'; var addy_text993c3d40cd79c7881b46253f70817970 = 'john' + '@' + 'hubbardinsurance' + '.' + 'com';document.getElementById('cloak993c3d40cd79c7881b46253f70817970').innerHTML += ''+addy_text993c3d40cd79c7881b46253f70817970+'';     Bryce Elliott BA Hons, RIB, CIP Vice President, Corporate Risk This email address is being protected from spambots. You need JavaScript enabled to view it. document.getElementById('cloak84bcb32955d72903168af8800f136183').innerHTML = ''; var prefix = 'ma' + 'il' + 'to'; var path = 'hr' + 'ef' + '='; var addy84bcb32955d72903168af8800f136183 = 'bryce' + '@'; addy84bcb32955d72903168af8800f136183 = addy84bcb32955d72903168af8800f136183 + 'hubbardinsurance' + '.' + 'com'; var addy_text84bcb32955d72903168af8800f136183 = 'bryce' + '@' + 'hubbardinsurance' + '.' + 'com';document.getElementById('cloak84bcb32955d72903168af8800f136183').innerHTML += ''+addy_text84bcb32955d72903168af8800f136183+'';                                            More
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