Cyber Liability Insurance
A Cyber Liability policy helps keep your business operating by providing the coverage needed against the expenses incurred when a data breach has happened. The policy covers you for:
- Privacy Crisis Management/ Breach Event Expenses related to the management of an incident, the investigation, the remediation, data subject notification, call management, credit checking for data subjects, legal costs, court attendance and regulatory fines.
- Media Liability related to third-party damages which can include specific defacement of website and intellectual property rights infringement.
- Network Extortion for losses due to a threat of extortion, professional fees related to dealing with the extortion.
- Network Security Liability for third-party damages as a result of denial of access, costs related to data on third-party suppliers and costs related to the theft of data on third-party systems.
- Data Asset Protection expenses for the costs associated with recovery, restoration, recreation, or recollection of your data and other intangible assets.
- And much more
You may think some of the elements of a cyber liability policy maybe overlapped with your other existing policies, however even if this overlap does exist, a decent cyber liability policy will ensure cyber risks are fully catered for. Allow us to review your policy coverage regardless of who you are currently insured with and we can provide our best risk management recommendations to you. This review will offer protection and peace of mind.
Data, one of your most important assets, is not covered by standard property insurance policies?
Systems are critical to operating your day to day business but their downtime is not covered by standard business interruption insurance
Cyber crime is the fastest growing crime in the world, but most attacks are not covered by standard property or crime insurance policies
Third party data is valuable and you can be held liable if you lose it
Retailers face severe penalties if they lose credit card data
Complying with breach notification laws costs time and money
Your reputation is your number one asset, so why not insure it?
Social media usage is at an all-time high and claims are on the rise
Portable devices increases the risk of a loss or theft
It's not just big businesses being targeted by hackers, but lots of small ones too
Source: Abex Insurance Company
Hubbard Insurance Group can offer a comprehensive services-based solution to data breaches. We know that when an organisation suffers a data breach, its first concern is to handle the breach in a way that maintains customer confidence. We work with underwriters such as Beazley Insurance, who have pioneered the concept of data breach insurance that focuses first and foremost on response. They are the first insurer with a dedicated in-house business unit that focuses exclusively on helping clients manage data breaches successfully.
The team focuses on the coordination of the expert forensic, legal, notification and credit monitoring services that our clients need to satisfy all legal requirements and maintain customer confidence. It also indemnifies your losses from lawsuits or regulatory actions, the risk of which may be reduced by a well-coordinated breach response but can never be eliminated. In addition to coordinating data breach response, the Service Team is responsible for maintaining and constantly developing a suite of risk management services, designed to minimize the risk of a data breach occurring in this ever-changing space.
Hubbard Insurance takes a comprehensive approach. No insurance company can guarantee your cyber security: no one can. But we can put you in control of your response.
Call us to discuss your business and we can determine the best risk management package for you. We will get you the protection you need at a competitive rate. To learn more or get a free quote contact us 905-696-9090 or Toll Free 1-800-900-2009 or better@hubbardinsurance.com
Other Insurance Coverages to Consider
COMMERCIAL PROPERTY INSURANCE
Protect your physical assets such as your building, stock, and equipment against loss.
INFORMATION TECHNOLOGY INSURANCE
Coverage for special risks and strict regulations - disclaimers, copyrights, confidentiality, e-commerce financial exposures. We have the safeguard you need.
GROUP BENEFITS & LIFE INSURANCE
Coverage for health care, dental care, short term or long term disability, life insurance for any size businesses operation.
BUSINESS INSURANCE
Call Toll Free 1-800-900-2009