Cyber Coverage
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Overview
Every business faces the risk of a cyber or privacy breach at some point. If a laptop is lost, a network fails, or a cyberattack exposes client information, you could quickly find yourself facing significant liability and unexpected costs. Clients are often understanding when a breach is handled properly—through timely notification, transparency, and a sincere response. However, managing the aftermath requires access to experienced professionals, resources to keep your business operating, and funds to address potential damages. We can help ensure you’re prepared to respond effectively and protect your business if the unexpected occurs.
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Key product features
- Legal coaching on how to handle the breach;
- Business interruption costs while you get your business online;
- Legal fees in the case of a civil suit;
- Funds for court-awarded damages;
- PR services for managing reputational impact;
- Provisions for credit monitoring and client notification fees.
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Online application
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FAQs
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Why is Cyber Liability insurance important?
Every business runs the risk of experiencing a cyber/privacy breach at least once in their lifetime. Recently, sophisticated fraudsters have proven that even the most secure organizations are at risk, too. The prevalence of cyber-attacks is only expected to increase and businesses report massive financial losses as a result of managing the fall-out. While a good defence strategy can certainly help, it’s not a question of IF your company will experience a breach but when. In Canada, privacy laws are ever-changing. And the process of navigating a breach is confusing and expensive. Damages are being awarded for not only sensitive information exposed, but for the resulting emotional injury as well. Finally, is every single one of your employees tech-savvy? Can they recognize a phish and stop scammers at the gate? The reality is that many breaches are caused by employee errors or mal-intent. And you need to be protected. Cyber/Privacy Liability insurance can help with that.
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What does Cyber Liability offer?
Our Cyber/Privacy Liability policy will provide you with funding for Public Relations services to manage the reputational impact of the breach, as well as, provisions for credit monitoring and client notification fees if sensitive client information is exposed. Additionally, you will be able to cover the legal defence fees in the case of a civil suit made against you, along with funds for court-awarded damages. You can even cover some of your business interruption costs while you get your business back online. Finally, you will have access to a breach coach who will guide you through the entire process.
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What is a "breach coach"?
A breach coach is a lawyer who specializes in guiding firms through a Cyber/Privacy breach. They are there to provide you with the advice you’ll need to make the process as simple as possible.