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Deepfake Scammers Con Company Out of Over $34 Million
At a briefing on Friday, Feb. 2, 2024, Hong Kong police revealed that a recent cyber incident involving deepfake technology resulted in a finance professional at a multinational firm being manipulated into wiring more than $34 million in company funds to fraudsters. This event showcased the widespread damage that can be caused by deepfakes, which…
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5 Steps to Prepare for a Future With AI
Artificial intelligence (AI) has made its way into many workplaces and is rapidly changing how organizations operate and make decisions. With its advancement, AI’s ability to enhance processes, streamline operations, and improve customer experiences has become evident, but its risks are not yet fully understood. As this technology enters workplaces nationwide, organizations must scrutinize its…
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Federal Government Announces Funding to Combat Auto Theft
On Feb. 21, 2024, the Government of Canada announced a federal investment of $15 million to support law enforcement agencies’ work to combat auto theft. This figure is in addition to the previously announced $28 million funding to tackle the export of stolen vehicles. Auto theft has become a significant problem in Canada over the…
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Small Business Trends for 2024
2023 was a year of significant challenges for businesses, especially for small and medium-sized enterprises (SMEs) in Canada. Supply chain disruptions, inflationary pressures, and recruitment and retention challenges were just a few of the hurdles that put the resilience of SMEs to the test. The effects were profound, with company insolvencies in the third quarter…
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Ransomware Payments Hit Record High in 2023
In 2023, ransomware payments reached an unprecedented peak, with businesses paying over $1 billion USD to cybercriminals. This alarming statistic, reported by Chainalysis, underscores a growing cyber threat landscape, doubling the ransom payments from the previous year and marking a significant challenge for companies worldwide. Understanding the Surge in Ransomware Payments The escalation of ransomware…
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Understanding the Cybersecurity Risks of QR Codes
Quick response (QR) codes are a popular marketing, sales, payment and customer service tool for several businesses. However, as QR codes have become more prevalent, malicious actors have found ways to use them in phishing attacks and to spread malware. These vulnerabilities can lead to significant financial and reputational damage, so it is essential for…
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The Case for DEIB Programs
Employers face many overlapping workplace challenges, including attraction and retention, workplace culture, employee productivity and more. Today, many employers are exploring diversity, equity, inclusion and belonging (DEIB) programs, which can play a vital role in these workplace factors. While many larger organizations may already pursue diversity, equity and inclusion (DEI) efforts, many smaller employers are…
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New Vs. Used in Trucking — Can My Business Support My Asset Payments?
*This post is from CMB partner Essex Lease. Visit them for flexible lending solutions. For any kind of business growth, you’re going to need working capital to finance expansion, implement new strategies, and take on new employees. However, working out what your business can afford in the future can be tricky. Asset payments can include a…
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Making a Plan for Product Recalls
As a manufacturer, your customers expect you to have safe and reliable products. You may do everything in your power to ensure your goods are fit for sale, but exposures such as design flaws, manufacturing defects, inadequate warnings and unclear instructions can all negatively affect product safety. In the event that one of your products…
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Costs Associated With Cyberattacks Doubled in 2023, Report Found
More than half of organizations suffered a cyberattack or breach that prevented data access in 2023, and IT disruption has become commonplace, according to Dell Technologies’ 2023 Global Data Protection Index. Alarmingly, the cost of dealing with cyberattacks has doubled since 2022, a testament to the critical nature of robust cyber defences to reduce financial…
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Attracting and Retaining Truck Drivers Amid Labour Shortages
Commercial fleets require a workforce of loyal, qualified drivers to succeed. However, significant driver shortages in the trucking industry have made workforce stability difficult. According to professional services firm PwC, the sector is short approximately 20,000 drivers, which may soon grow to 30,000 as more drivers reach retirement age. Indeed, the average truck driver age…
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The 2024 Canadian Insurance Market
As a Canadian consumer, it’s important to be aware of the trends and challenges shaping the insurance market in 2024. Let’s take a closer look at these trends and their impact on consumers and explore possible solutions to help you make informed decisions about your insurance coverage in 2024. Disruptors to Monitor The commercial insurance…
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2024 Commercial Auto Insurance Market Outlook
The auto insurance market has experienced a tumultuous few years. COVID-19-induced production challenges, supply chain disruptions and inflationary pressures have led to hardening conditions and premium hikes. Some of these pressures have eased, and other factors now weigh on the market. Specifically, the rapid emergence of electric vehicles, connected cars and autonomous vehicles points to…
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Key Person Life Insurance: Essential Protection
*This post is from CMB partner Finuity Wealth. Find out more about group benefit solutions here. The Essential Role of Key Person Insurance Key person life insurance is an indispensable tool for businesses of all sizes. This insurance, taken out on a key employee or executive, safeguards a company’s operations and financial health against the…
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Tailgating and Piggybacking Explained
Tailgating and piggybacking are low-tech tactics used by malicious actors to access restricted areas. They occur when an unauthorized individual gains physical access to a location with sensitive information or vulnerable IT equipment, which can have significant financial and reputational impacts on businesses. Understanding Tailgating and Piggybacking Tailgating and piggybacking present a significant risk to…
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Considerations for Implementing an Effective Financial Wellness Program
High inflation has contributed to employees’ financial stress, as many struggle to navigate higher prices, uneven wage growth and credit card debt. According to debt solution company BDO, 54% of Canadians live paycheque to paycheque. Employees who are stressed about their finances are more likely to be distracted, less engaged and less productive at work….
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Snow Shovelling Safety Tips
Although shovelling snow on the job can help clear pathways and prevent ice buildup, this task comes with serious safety risks. After all, repeated shovelling requires significant physical exertion, which—when paired with the frigid outdoor elements—can take a dangerous toll on your body. That’s why it’s crucial to understand the risks and utilize proper precautions…
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Checklist for Diversity, Equity, Inclusion and Belonging Programs
Employers often use diversity, equity, inclusion and belonging (DEIB) programs to tap into the strengths of their current and future workforces. An employer’s specific business case for pursuing these initiatives is typically closely aligned with the organization’s overall mission and goals. The value from DEIB efforts can often be achieved through an employer emphasizing awareness,…
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Leveraging Data Analytics to Inform Business Decisions
Data analytics refers to gathering, analyzing and interpreting data, and it’s becoming a critical component for business success. Specifically, leveraging data can help organizations obtain valuable insight to drive growth and help stay one step ahead of the competition. Although sound business experience and sharp instincts remain important, data analytics can fuel informed and accurate…
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Removing Unconscious Bias from Hiring Practices
Organizations may shape recruitment decisions based on race, gender or age without realizing they are vetting candidates this way, a form of unconscious bias. In fact, 79% of HR professionals agree that unconscious bias exists in both recruitment and succession planning decisions, according to technology company BrightTalk. Regrettably, unconscious bias reduces workforce diversity and excludes…
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Business Energy Saving Tips
It’s prudent for organizations to scrutinize their energy consumption to determine where they can make savings. As well as freeing up additional funds to use elsewhere, reducing energy consumption can help organizations lower their overall carbon emissions, which is increasingly important to both consumers and employees. In fact, 40% of consumers choose brands that have…
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Common Social Engineering Tactics to Watch For
Social engineering refers to a cyberattack method in which a cybercriminal preys on key human behaviours (e.g., trust of authority, fear of conflict and promise of rewards) to obtain unwarranted access to targets’ technology, systems, funds or data. These attacks can be deployed through various tactics, such as digital impersonation, deceitful messages or malicious software…
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The Business Case for Wellness: 10 Key Benefits
*This post is from CMB partner Finuity Wealth. Find out more about group benefit solutions here. Inspired by insights from Indeed and Wellable In today’s fast-paced business world, the health and well-being of employees are more than just personal concerns; they are central to an organization’s prosperity and success. This is particularly true in the…
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Deepening Risk Understanding Through Data Analytics
In today’s fast-paced business environment, understanding and mitigating risks is crucial for long-term success. Data analytics plays a pivotal role in enhancing this understanding, offering several key advantages: Leveraging data analytics for risk mitigation is not just about managing potential negatives. It’s a strategic approach that enables organizations to thrive by turning risks into opportunities…
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At What Temperature Do Pipes Freeze in Canada?
In Canada, where winters can be extremely harsh, it’s crucial for homeowners to prepare their plumbing systems for the cold. This not only prevents inconvenience but also safeguards against expensive repairs. Understanding Pipe Freezing When temperatures plunge, especially to single digits, pipes can freeze and burst. Metal pipes contract in extreme cold, and the water…
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Promoting Winter Wellness in the Workplace
Winter months often bring an uptick in illnesses, with flu season peaking and colds more prevalent. COVID-19 and respiratory syncytial virus (RSV) also add to the health challenges during this time. As an employer, you play a crucial role in fostering a healthy work environment. Here are strategies to help your workforce stay healthy during…
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Prioritize Safety Over the Holidays
Ensuring a Secure and Joyful Season Safety While Travelling The holiday season is a bustling time, with many Canadians travelling to meet family or enjoy vacations. While these journeys bring excitement, they also introduce various risks. When away from home, even minor incidents can escalate, affecting your plans and finances. Here are essential tips for…
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Cyber Insurance: Insights for Canadian Businesses
In the rapidly evolving digital era, Canadian businesses face an increasing risk from cyber attacks and data breaches. Understanding what cyber insurance is, particularly in the Canadian context, is more crucial than ever. Cyber insurance is a type of insurance coverage that helps protect businesses from financial losses resulting from cyber attacks and data breaches….
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Five Questions to Ask Your Lender
*This post is from CMB partner Essex Lease. Visit them for flexible lending solutions. When it comes to securing financing, having a great partner by your side can make all the difference. Few relationships will be more important to the success of your business than the one you have with your lender. So, it is well worth…
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Flame-Resistant Clothing in the Oil and Gas Industry
The oil and gas sector, known for its challenging and hazardous working conditions, necessitates stringent safety measures. One crucial aspect of these safety protocols is the use of Flame-Resistant Clothing (FRC). This blog delves into the critical role of FRC in safeguarding workers from one of the most perilous hazards in the industry: flash fires….
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Key Takeaways from AXA’s Future Risks Report
AXA has released the findings of its annual Future Risks Survey, detailing the most significant emerging threats facing countries and organizations today. Now in its tenth year, the survey asked 3,500 risk experts and more than 19,000 members of the global public to rank their top 10 future risks based on their potential impact over…
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CMB is an IBC Top Insurance Employer again in 2023!
CMB Insurance Brokers has been named an 2023 Insurance Business Canada Top Insurance Employer! The winners of the 2023 IBC Top Insurance Employers awards are recognized as great companies going the extra distance to distinguish themselves in a tight labour market. Here is a quote from Insurance Business Canada: CMB Insurance Brokers tops again for employee…
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Careers with CMB: Where Culture Counts
Click here for a downloadable version of this Culture Guide. Looking for a company to call home? With stiff competition to recruit strong candidates, a company’s culture can be the deciding factor.This is good news for CMB Insurance. Their culture has been built with care to welcome and support every team member. “We’re proud to…
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CMB Insurance Brokers Announces New MacEwan University Scholarship
Supporting Future Leaders in Insurance and Risk Management Edmonton, Alberta – CMB Insurance Brokers, a leading provider of comprehensive insurance solutions, is thrilled to announce the establishment of the CMB Insurance Brokers Award, a new scholarship fund aimed at supporting students pursuing a career in insurance and risk management at MacEwan University. This $1500 scholarship…
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Leveraging Employee Engagement Surveys
Employee engagement—how enthusiastic and dedicated employees feel about their jobs—is an important metric for organizations. Highly engaged employees are emotionally committed to their work and motivated to succeed. These employees act as positive role models for others and can help drive business growth. Several research bodies have found a positive link between employee engagement and…
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Preventing Lower Back Injuries While Farming
Manual material handling (MMH) is the most common cause of occupational lower back pain, according to the Canadian Centre for Occupational Health and Safety. In fact, approximately 3 in 4 Canadians whose job includes MMH experience back pain at some time during their working lives. Due to the use of heavy tools, prolonged driving of…
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Under Pressure: How to Manage Cash Flow Strategically
*This post is from CMB partner Essex Lease. Visit them for flexible lending solutions. The business world is competitive, so having a strategy is critical. Business owners must have flexibility in order to stay focused on their goals and long-term growth plans. But if you’ve ever been locked in a precarious cash flow cycle, you’ve likely…
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Preventing Slips, Trips and Falls During Winter
As temperatures begin to drop, walkways can quickly become hazardous due to snow and ice. Winter slips, trips and falls at businesses are common sources of injuries for visitors and employees alike. As an employer, it’s crucial to maintain the safety of your property and keep your employees and visitors safe. Whether you take care…
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Understanding and Overcoming Proximity Bias in Hybrid Workplaces
In the rapidly evolving employment landscape, where remote and hybrid workplaces have become increasingly prevalent, proximity bias has emerged as a critical challenge to address. Proximity bias refers to people’s inherent tendency to favour individuals who are physically closer to them in a workplace setting, often at the expense of remote or distributed team members….
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Winter Safety on Construction Sites
The arrival of winter brings a fresh set of challenges to construction sites. Snow, ice, and frost not only disrupt the flow of work but also heighten the risk of accidents and potential insurance claims. Recognizing and preparing for these winter-specific hazards is crucial for the safety of your workers and the efficiency of your…