cYBER RISK
As technology advances, cyber risk grows. No business is immune to the threat of cybercrime – let our industry expertise, preferred brokers, and tailored insurance coverage help protect your company from digital disaster.
What is cyber risk insurance?
In the digital age, it becomes necessary to broaden your business coverage to protect your bottom line and your reputation. Cyber risk insurance is designed to support your business if computer networks are breached, causing information to be stolen or ransomed, business operations to be interrupted, computer systems to be corrupted, and other serious professional consequences.
Cyber risk coverage doesn’t stop at the event, because consequences can stretch on for much longer. Aside from regaining access or recovering lost information, your business may need to deal with things like network repair, legal claims, and public relations services to help restore your reputation and rebuild trust among customers. Getting things back on track can take days, weeks, or months.
Did you know
You have a responsibility to deal with cyber crime quickly. If you fail to comply with Canada’s mandatory privacy breach reporting and record keeping laws, you could face a fine of up to $100,000.
Who needs cyber risk insurance?
Do you handle information electronically? Unless you’re still using pencil and paper to facilitate, record, and process transactions, your data is likely vulnerable. A business doesn’t need to be rooted in the tech sphere to be prone to cybercrime – any business that uses computers is exposed to cyber risk.