In our digital world, cyber risks are increasingly common. Ensure that your business is protected with cyber insurance in Ontario. Cyber security and liability coverage will protect you and your business from financial losses and legal risks in the event you fall victim to a cyber crime.
Businesses are responsible for safely storing customer information. If sensitive data like names, credit card numbers, financial information, or health records are leaked, you could be subject to lawsuits, as well as loss of revenue, business interruptions, reputation damage, and more.
Protect your business and its reputation, by securing cyber insurance with Jeffrey & Spence. Since 1927, we have provided quality insurance services to a variety of organizations across Ontario. Our professional brokers will provide you with expert advice and guidance to help you determine the cyber security coverage you need.
Cyber Insurance Services in Ontario
Our businesses often depend on the internet and, while we can’t stop attacks from happening, we can minimise the damage done by ensuring we have the right safeguards in place. Our brokers will craft a cyber risk insurance policy to help protect you.
Every business has a duty of care to its customers and to the general public. If you are subject to a data breach through malware, compromised emails, hackers, or other breaches, a cyber insurance policy will help you meet the legal requirement to investigate the extent of the attack and develop strategies for contacting those affected. This type of investigation is an expensive financial burden to take on yourself as it can include IT forensics, credit monitoring, setting up call centres to handle the matter, and much more.
Most cyber insurance coverages will help you pay for data loss, the cost to repair equipment, related reputation management expenses, as well as liability risks and legal costs associated with data breaches, including any possible lawsuits of negligence. You can also add optional network business interruption coverage to pay for profit losses, business interruption, or ransomware coverage for fees related to online extortion.
Who Needs Cyber Insurance in Canada?
If your business uses, sends, or stores electronic data, you should consider cyber liability insurance. Businesses of all shapes and sizes have fallen victim to cyber attacks. Don’t make the mistake of thinking your business is too small to be a target. Small to medium sized businesses are on the receiving end of these attacks every day.
Our team offers cyber security insurance to a wide range of industries, including:
- Professional services
- Financial services
- And more
Our agents will meet with you to get an understanding of your business and the value of its electronic data in order to craft a cyber insurance policy that meets your needs. We will take into account risks specific to your industry and the minimum coverage needed to protect your best interests. It is a risk management strategy that every business should invest in.
Start a quote with Jeffrey & Spence today, so your business can bounce back in the event of a cyber attack or data breach.