Kitchener Cyber Insurance
Cyber Liability Insurance That Protects Your Business
Many small and medium businesses believe cyber-attacks are predominately directed at larger corporations, like Sony, Target, or Home Depot, but the truth is very different. Most cyber hacks target small and medium businesses because they are smaller, more likely to have outdated computer security and are often the pathway into larger corporations.
The quickly evolving world of cyber attacks and cyber risks means there is a near constant change in tactics hackers use to get at your valuable data. There are even strategies where a hacker doesn't care about getting your data, but about you not being able to access your own information. These cyber extortion cases are increasing.
What is cyber extortion? A virus is downloaded accidentally and once accessed encrypts all your data. Imagine if your business lost access to all your client data? What if you have to pay thousands of dollars to the extortionists to get access back? This has happened to more businesses and private individuals lately and is costing thousands of dollars.
Kitchener Cyber Insurance Is More Than Just For Claims - It's For Prevention Too
What's the number one cause of data breaches? Human error. We've heard these stories before. Someone left an unencrypted usb key where they shouldn't have, someone clicked a link they shouldn't have or a laptop gets stolen but isn't updated with the latest security features.
Getting the appropriate training and best practices in place now is important. That's why with Erb and Erb Insurance Brokers Ltd. you'll get risk management advice on what to do before, during and after a cyber attack on your business. How should you inform your customers of a data breach? When should you inform them? How should you deal with the potential fallout of a cyber attack? Our best practices will provide you with the information your business needs to respond in a crisis.
Canada Is Changing It's Laws - Get The Cyber Risk Insurance That's Right For Your Business!
Under new legislation there are proposed amendments to Canada's privacy laws. Organizations will be required to inform consumers when their personal data has been stolen or lost. There will be fines of up to $100,000 if a company fails to comply with the regulations or destroys evidence of a breach. And the privacy commissioner could publicly name organizations that are non-compliant!
With a Kitchener, Ontario Cyber Liability Insurance policy through Erb and Erb Insurance Brokers Ltd. you get:
Third Party Liability - Liability coverage for your business's duty to others or for payment of incurred expenses as a result of a privacy breach.
Business Interruption - If your company falls prey to a cyber attack this coverage provides access to funds during the time your computer network or servers are down because of a cyber attack.
Extortion Coverage - This provides coverage if your company gets struck by an online extortion attack where hackers give ransom or extortion demands.
Notification Cost Coverage - This will help your company keep current with the changes to Canada's cyber risk laws. Under this coverage provides funds to cover the cost to advise your clients and business partners of a network breach.
Restoration Costs Coverage - When computer servers succumb to an external attack it costs money to bring them back online in a safe and secure manner. This coverage provides funds to help pay for the restoration expenses of your computer systems.
These are just a few of the many options Erb and Erb Insurance Brokers Ltd. can offer so that you get the Cyber Insurance policy that fits your business needs, today and tomorrow.
Don't Wait Until Your Client Data Is Breached - Get The Coverage You Need Today!
It's easy to get a free, no-obligation estimate on your Cyber Liability Insurance needs. Just fill in the quote form above or call 519-579-4270 and a Cyber Risk Insurance expert will guide you through all your questions.
You'll see how important it is to have a full security strategy of prevention, protection and notification for your Cyber Risk response plan. Contact us today!