Cyber Liability
Insurance
Cyber Liability Insurance Quotes from Rogers Insurance
Get a cyber liability insurance quote today or read on below to learn more about this essential coverage.
Financial Loss
A cyber incident can cause severe damage financially to your business. Expenses related to recovering data, notification, extortion, and lawsuits can be high. Plus, you’ll likely experience damage to your reputation and loss of income. Cyber liability insurance policies help mitigate the financial loss experienced by your business.
Business Interruption
Some cyber liability insurance policies in Canada cover business interruption. This is also known as income interruption insurance. It covers lost income in the event you’re forced to cease operations, in this case, due to a covered cyber liability insurance claim.
It can take time to recover after a cyber event and this coverage can help your business survive the period of interruption. It can help cover wages and pay essential bills while you work to get your doors open again.
Loss or Corruption of Data
Cyber events often include loss or corruption of data. This aspect of cyber liability insurance helps cover the cost of recovering this information.
Identity Theft
Some cyber liability insurance policies in Canada extend coverage if identity theft is involved in the cyber event. This includes help recovering personal information and covering financial losses relating to a stolen identity.
Legal Expenses
This is the third party liability aspect of cyber liability insurance. This covers legal expenses including defence costs, settlements and awards. Keep in mind that this would be limited to certain cyber-related lawsuits.
Cyber liability insurance is still new and continued to evolve. Get your free cyber liability insurance quote from Rogers Insurance or talk to our brokers to learn more about your options.
What to consider when buying Cyber Liability Insurance in Canada
Your Rogers Insurance cyber liability insurance broker can help you find the coverage your business needs. Our experts assess your business and work with different insurance companies to find the best cyber liability insurance policy for your budget and needs.
The cost of cyber liability insurance will depend on your individual business, including:
- Digital security protocols you’ve implemented to mitigate your exposure to cyberattacks and data breaches
- How many personal records your business retains or has access to and the nature of the information
- How much commercial information your business retains or has access to and the nature of the data
- Whether you have any unencrypted information in the custody of third-party providers
- Your information backup systems
- Your company password policies
- Your industry and the type and value of the business you do
- Your business’ insurance and claims history
These may not be the only factors, however, as each insurer is different. Our cyber liability insurance brokers can help you identify how you can reduce premiums while maintaining the level of coverage you need. They can also get you competitive cyber liability insurance quotes.
Risk Management for Cyber Liability
Insurance – particularly cyber liability insurance – is just one way to protect your business from cyber liability threats. However, insurance should always be the safety net – you want to avoid a cyber event in the first place in order to save your company’s reputation and money as well as protect your employees, partners and clients.
Here are ways to help mitigate your cyber liability risks:
- Develop cybersecurity processes and provide training to all staff. This can include password protocols, keeping physical devices safe, and how to avoid phishing and malware. It should also include what to do in the event of a cyberattack or data breach, including notification.
- Install a firewall for your computer network from a reputable provider.
- Install anti-virus and anti-malware software.
- Use monitoring tools to identify electronic threats.
- Regularly schedule security tests and drills for the event of a cyberattack or data breach.
- Ensure information is protected and backed up securely through a cloud-based storage system.
- Following an incident, document all circumstances and responses in order to learn and help prevent another incident from occurring. It can also help track your losses and is required by law depending on the size and nature of the breach or attack.
For the newest risk management practices or procedures that are tailored to your business, ask your cyber liability insurance broker. Here at Rogers Insurance, we will be able to help you determine what threats your company is exposed to and help you protect your business.
Among Canada’s Leading Cyber Liability Insurance Brokers: Rogers Insurance
Rogers Insurance has the best cyber liability insurance brokers because our experienced, knowledgeable insurance professionals know cyber liability insurance. Their number one priority is finding you the best solution for your business’ needs and budget. We work with a number of insurance companies in order to get you competitive cyber liability insurance quotes. We’re also here to help you mitigate your risks, answer your insurance questions, and help you through claims.
We value our clients and recognize that each company has different needs. Our cyber liability insurance brokers personally review your coverage, your business, and your risks. We pride ourselves on providing exceptional customer service to all of our clients. We’re your advocate and your insurance resource.
See the difference with Rogers Insurance by requesting a cyber liability insurance quote or getting in touch with us today. Our team of experts is here to help you protect your business.
Get a Cyber Liability Insurance quote with Rogers Insurance
If you aren’t quite sure where to start when it comes to purchasing cyber liability insurance coverage for your business, request a quote through one of Rogers’ online forms. Our cyber liability insurance brokers will get in touch with you as soon as we can to answer your questions and provide you with a competitive cyber liability insurance quote.