Ransomware Attacks, Social Engineering Fraud Attacks, Privacy Regulation Coverage, Data Breaches / Spoofing Losses
Privacy Regulation Coverage – Pays for regulatory expenses incurred when the organization becomes legally obligated to pay a Privacy Regulation Claim
Does my business really need cyber liability insurance?
YES, Any business that uses a computer and the internet is exposed and should have a Cyber Liability policy to protect it from the potential devastating financial hardship.
Your data and your client’s data that you store can become compromised through hackers, viruses and other attacks to exploit that data.
We have a policy that can insure against the financial impact of such cyber attacks and data breaches.
What does a cyber insurance policy cover?
Cyber insurance policies can cover you for business interruption, forensic support, legal support and cyber extortion defense
Why we all need cyber insurance?
Unfortunately in today’s world it isn’t a matter of “IF” you will experience a data breach but when and how severe will that data breach be. Let’s hope it is minor and damage is minimum, but for the cases where it isn’t a Cyber Insurance Policy is the best way to take the financial brunt/burden and help you get your business back to normal as soon as possible. Data and other information you store is not only of high value to you but to pirates as well. Even if pirates can’t get their hands on your data, they just need to lock the data away from you and your looking at significant costs and potential penalties from government regulators/compliances.
Your commercial property and general liability policy is not designed to give you extensive protection from cyber type of losses.
A cyber insurance policy will be a great addition to your commercial property and Liability insurance program
Some of the additional costs you will be looking at if your business is a victim of a cyber attack:
- Cost of communicating with your complete customer base advising them their data may have been compromised.
- Court fees and settlements from legal action
- Cost to rebuild the data files
- Cost of regulatory investigations
- Cost of lost business.
What is Ransomware Attack Coverage?
Ransomware Attack Coverage for insertion of malware on a computer system that prevents or limits the ability to access data for the purpose of obtaining a ransom from the victim to end or remove the attack.
In addition to the Extortion Loss limit, our coverages Includes:
- Crisis Management Expense • Fraud Response Expense
- Public Relations Expense • Forensic and Legal Expense
Available Limit: Up to $2,000,000
Premiums starting at $448 year
*Need higher limits? No Problem.
What is Social Engineering Fraud Attack Coverage?
Social Engineering Fraud Attack Coverage for schemes that intentionally misleads an employee into sending money or diverting a payment based on fraudulent information that is provided to the employee in a written or verbal communication such as an email, fax, letter or phone call. The loss is the actual money or securities transferred by the insured entity.
In addition to the Loss limit, our coverage includes:
• Crisis Management Expense • Fraud Response Expense
• Public Relations Expense • Forensic and Legal Expense
What is Privacy Regulation Liability Coverage?
Privacy Regulation Liability Coverage this coverage will pay for regulatory expenses incurred when the organization becomes legally obligated to pay a Privacy Regulation Claim. A Privacy Regulation Claim is a civil proceeding, civil investigation, or request for information brought against any Insured for an actual or alleged violation of any Privacy Regulation. It could be brought by a federal, provincial, local, or foreign government.
- Enterprise Security Event
- Privacy Regulation
- Crisis Management
- Fraud Response
- Forensic / Legal Services
- Public Relations
- Cyber Extortion
- Website Media Liability
- Business Interruption
- Data Restoration
- Ransomware Attack Coverage*
- Social Engineering*
- Telecom Fraud Coverage
- *Subject to eligibility
Claims Services: the high speed response you want and probably need.
- High speed of response to incidents is essential, requiring a global operating call centre to support clients 24×7
- Forensic investigations are the most important services in breach response: This identities, the scope and impact of breach, affecting the scale and complexity of remediation plan associated costs.
- Good coordination between specialists would help to deliver a holistic and smooth breach response solution to clients. This require an efficient and effective operating model, which is further described as part of the broader crisis management proposition.
- Our product includes enhanced liability coverage, comprehensive breach response coverage, and extensive service provider resources. When a cyber incident occurs, a Breach Coordinator is assigned to engage specialists to respond and provide full coordination and project management to resolve the crisis.