Red Deer Cyber Liability Insurance
Protect Your Business in Red Deer with Cyber Liability Insurance
In 2017, 21% of Canadian businesses reported being affected by a cyberattack – a number that is growing with each year. A cyberattack can have disastrous consequences, including expenses relating to:
- Ransom fees
- Data and program recovery
- Notification of the breach or attack
- Reputation management
- Improved cybersecurity
- Business interruption
If your business collects or uses electronic data in Red Deer, cyber liability insurance can help protect you if you experience a data breach or cyberattack.
Work with Rogers Insurance for Red Deer Cyber Liability Insurance
With over 40 years of experience and a human-first approach to insurance, Rogers Insurance is the best choice for your cyber liability insurance in Red Deer. Here are a few reasons why:
- Independence – We’re employee-owned and work for you, not an insurance company.
- Competition – We work with over 90 insurance companies so that we can get you the best prices and coverage.
- Customization – Because we work with so many insurance providers, we can find coverage that works for your needs and budget.
- Experience – Our cyber liability insurance brokers are experienced and continually undergo professional development to ensure they’ve got the most up-to-date knowledge.
- Service – We believe in a human-first approach to insurance and we stand behind our exceptional customer service.
Get a cyber liability insurance quote for your Red Deer business today with Rogers!
What does a Red Deer cyber liability insurance policy cover?
Cyber liability insurance helps protect Red Deer businesses if they experience a data breach or cyberattack. There are different types of policies available, but a comprehensive cyber liability insurance policy in Red Deer includes coverage for:
- Legal expenses
- Remediation or recovery
- Crisis or reputation management
- Extortion or ransom
- Business interruption
Some policies will also help your Red Deer business protect against cyberattacks or better equip your company to deal with one.
Keep in mind that what’s covered will depend on your insurance company and your coverage options. Work with one of Rogers’ experienced cyber liability insurance brokers to ensure you have the protection you need.
What types of cyberattacks are covered under cyber liability insurance?
Red Deer’s businesses are exposed to many different types of cyberattacks and cyber liability insurance usually covers:
- Brute force – When someone tries to guess the password to access data or a device.
- Denial of service – When users cannot access their computer or software or network thanks to a cyberattack.
- Phishing – When an attacker tricks someone into giving away information, clicking a link, or opening an attachment. This is usually through email.
- Malware – When a malicious software is installed on a device. This software is then used to get information like logins and collect data.
- Man-in-the-middle – When an attacker impacts communication between two parties, like two employees or a client and employee.
- Ransomware – When employees are unable to get into a program or computer unless the cyber attacker is paid a fee.
- Spoofing – When a cyber attacker uses impersonation to attack or steal.
Data breaches can also be caused by system and human errors.
Who needs cyber liability insurance in Red Deer?
If your business collects or uses electronic data or uses electronics to carry out business operations, you need cyber liability insurance in Red Deer. Since most of our records are electronic and many business operations are carried out on a computer, it’s very likely that you’d benefit from this coverage.
How to Get a Cyber Liability Insurance Quote in Red Deer
There are a few ways you can request a cyber liability insurance quotes in Red Deer:
- By email
- By phone
- Visit a brokerage
Stop by our Red Deer office to get a cyber liability insurance quote or simply give us a call. You can also email us or request a Red Deer cyber liability insurance quote online.
How much does cyber liability insurance cost in Red Deer?
The cost of good cyber liability insurance in Red Deer starts around $1000 and goes up, depending on your risk factors and insurance options.
Factors That Affect the Cost of Cyber Liability Insurance in Red Deer
There are many factors that will affect the cost of your cyber liability insurance in Red Deer, including:
- Size of business/number of clients
- Type/amount of records
- Insurance options (deductible, coverage, policy limits)
How to Get the Best Price for Cyber Liability Insurance in Red Deer
Here are a few tips on how to get the best price for your business’ cyber liability insurance:
- Get a few quotes to compare prices and coverage
- Don’t overinsure
- Choose a higher deductible
- Invest in mitigation measures for cyberattacks and data breaches
- Establish a cyberattack and data breach action plan
- Review your coverage at least once a year
Frequently Asked Questions About Cyber Liability Insurance in Red Deer
Are small- or medium-sized businesses a target for cyberattacks?
Yes, small and medium-sized businesses are absolutely a target for cyberattacks. Cybercriminals believe these businesses have fewer resources, less security, and good connections to attack other organizations. That’s why it’s important to protect your Red Deer business with cyber liability insurance!
What is a cyber claim?
A cyber claim is a claim made under your cyber liability insurance after your business has suffered a data breach or cyberattack.
What’s the difference between a cyberattack and a data breach?
A cyberattack or cyber incident is an act that attempts or succeeds in compromising cybersecurity which can result in disrupting operations or obtaining data.
A data breach is a loss or unauthorized access to personal information.
Do I need to report a data breach or cyberattack?
Legally, you need to report a data breach or cyberattack if there is a risk of harm. This includes:
- Bodily harm
- Damage to property
- Damage to reputation
- Financial loss
- Identity theft
- Loss of employment or opportunity
- Negative impact on credit records
If only Alberta residents are affected, you should report the incident to the Office of the Information and Privacy Commissioner of Alberta. If the scope is larger, you should also inform the Office of the Privacy Commissioner of Canada.
Who offers cyber liability insurance in Red Deer?
There are a growing number of insurance companies that offer cyber liability insurance in Red Deer. We have access to many insurers in order to find you the right coverage at a competitive price.