Cyber Liability Insurance

Cyber Liability Insurance

All-in-one Cyber Policy

Cyber liability insurance protects your company’s data and computer systems in the event of a malicious attack.

Cyber insurance is typically regarded as an essential cover for your business if you store sensitive data about your clients or staff on laptops, tablets, or other internet-connected devices. A data breach might have disastrous implications, with an increasing number of cyberattacks deliberately targeting small firms. An attack that cripples your website, destroys business-critical data or steals personal information from your customers could have serious financial ramifications for your company.

At iSmart insurance, we have Alberta’s premier cyber insurance and risk experts. We are familiar with the cyber hazards that businesses face regardless of their size.

Cyber Liability Insurance 1

Is Your Business Covered In Digital Age

A cyber attack or security breach can result in serious financial losses for your business if you do not have Cyber Insurance. Also covered are legal defense costs if you are accused of publishing defamatory content online. At the same time, the breakdown of your company’s website and the failure of your internet provider may result in financial losses.The dangers that come with the digital world are growing along with it. Cyber Insurance gives you the peace of mind that your company will be able to withstand any attacks.
  • Data Breach: The coverage includes IT forensics, credit monitoring, and crisis management in the event of a data breach, as well as the cost of investigating and notifying customers.
  • System Damage: If you suffer a cyberattack, your IT systems are covered for repair and restoration.
  • Income loss: Businesses can suffer losses if a network security breach affects them.
  • Cyber Extortion: The cost of the ransom payment and the investigation is covered by the policy.
  • Regulatory fines: you’ll receive compensation for any penalties you may owe due to a data breach.
  • Privacy liability: claims that your company puts private, confidential information at risk.
Anti-virus software that is up to date can reduce the possibility of a hacker obtaining access to a system. Still, it cannot protect against the cost of repairing damage caused by a cyber assault. The costs of notifying customers about a data breach, restoring data after a targeted denial of service assault, or paying ransom demands can be substantial. Cyber insurance protects you from such threats, giving you peace of mind that you’ll be covered if a targeted cyberattack occurs.
We provide a variety of insurance limitations options, so you’re guaranteed to get the proper coverage for your company. Many clients and industry groups with regulatory requirements will want you to have a certain level of coverage before you begin work on a contract, so double-check before you buy insurance. If you’re unsure, or if this is your first time arranging coverage, consider the worst-case situation and the likely costs of correcting your error.
The form of cybercrime has evolved in recent years, with phishing being the most common cyberattack against Canadian firms.However, viruses, malware, hacking, and ransomware cyberattacks continue to be a threat, and organizations must take precautions to avoid them.
  • Phishing Usually, misleading emails deceive recipients into opening attachments or clicking on links that download harmful malware. Alternatively, a cybercriminal gathers information on the victim to imitate someone they know and trust to persuade them to do something they shouldn’t.
  • Malware It is software installed on devices or a network with the ability to take control of the device or system and harm data.
  • Hacking This is when a highly experienced hacker tries to break into a company’s system on purpose. Once inside, they can steal and exchange data and hold a company hostage.
  • Ransomware People are duped into downloading dangerous malware that can bring a company’s network to a halt. After then, the cybercriminal can demand a ransom to have the program removed.

How Can We Help?

Let us help you get the best coverage.