Protection from cyberattacksis becoming increasingly important due to rampant use of technology and exposure of businesses to cyber risks coming from viruses, data loss, network damages and information theft.
A cyberattack can happen at any time and potential targets are small, mid-sized and large businesses. A Calgary cyber liability insurance cover protects your business in multiple ways:
- Cyberattacks, threats and data breaches of all types can be prevented.
- Damages and expenses arising from cyberattacks and data breaches can be covered.
Risks covered by cyber insurance Calgary
If you are a business, we recommend that you obtain a cyber insurance Calgary policy as it covers many cyber risks to which your business is exposed to. These include:
- Investigation fees
- Legal expenses
- Notification costs
- Reputation management
- Loss of income
- Data or software or network recovery
It is important to note that there are different levels and types of coverages available and how much coverage you have is dependent on the level and type of policy you have. In order to choose the optimum coverage, we recommendthat you talk to our friendly and experienced cyber liability insurance brokers to understand the coverage that is best suited for your business.
Types of cyber attacks and data breaches covered by cyber insurance Calgary
A typical cyber insurance Calgary policy covers the following risks:
- Denial of Service: If you are unable to access your computer, network, or software.
- Malware: Where a malicious software gets installed into your system and gains access to data such as logins, personal information, etc.
- Ransomware: Where you are unable to access your computer, network, or software unless you pay a certain amount of money or fee to the extortionist.
- Phishing: Where a trick is played on you and you end up parting away with information by clicking a link, or opening an attachment.
- Man-in-the-Middle: This occurs when everyday business communication that is routine in nature between an employer and an employee gets hacked by a third person.
- Spoofing: This occurs when a cyber-attacker impersonates you, or your colleague and steals or gets access to confidential information.
Factors affecting the cost of cyber insurance Calgary
Among other things, the cost of cyber insurance Calgary is influenced by the following factors:
- Size of your business
- Volume of your yearly revenue
- Your industry, or line of business
- The nature and volume of records you maintain
- The kind of data you have in your systems and its volume.
- Insurance options that you want to include or exclude from your policy such as deductibles, policy limits, and coverages
If you are looking for a cyber liability insurance cover, then call us today at (403) 250-3121. Our cyber insurance brokers Calgary are experts and offer exceptional service. They will answer all your questions and find the best quotes for you.