Protect your business from digital crimes.
The digital era is here, and businesses are more at risk than ever from cyber threats. Get your free Cyber Insurance quote today and mitigate your chances of a security breach. Be proactive, not reactive.
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Protect your business from digital crimes.
Sometimes also called Errors & Omissions Insurance (E&O), this program ensures you're protected from liability claims that could arise from your personal training operations.
This covers the costs you would incur to purchase all new business property like, office furniture, leasehold improvements, computers, and any other equipment.
CGL coverage ensures potential claims such as slips and falls in an exercise space you may rent to train you clients is covered. Included in a complete insurance package for PTs.
1 in 5 Canadian businesses have been victims of a cyber-attack. Jacques explains why modern Canadian businesses must have cyber risk insurance.
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Cyber Insurance or Cyber Risk Insurance is a type of insurance that helps protect businesses and individuals from financial losses that may occur as a result of cyber attacks or other data breaches. Cyber Insurance can help cover the costs of recovery from a data breach, including the cost of hiring a public relations firm to help manage the crisis, data restoration, credit monitoring services, and any legal fees that may be incurred. Cyber insurance policies can sometimes provide coverage for lost income if a business is forced to shut down due to a data breach.
Most businesses have sensitive data stored on computer devices that, if lost, could severely impact the business. The proper cyber insurance policy protects you and your clients against that.
The risk of privacy breach, ransomware attack, denial of service, and other cyber attacks on businesses has grown exponentially in the digital age as data, operations, and digital systems are more at risk than ever. Cyber risk insurance is designed to support your business in the event of cybercrime or a digital security breach. These attacks often lead to:
Cyber coverage mitigates the risk every business is exposed to when using a computer or having an online presence. In the event of a digital security breach, coverage extends beyond the incident and into the aftermath of consequences, such as network repair, legal claims and public relations operations to restore the brand reputation and customer trust.
Cyber insurance can’t stop your business from experiencing a cyber-attack, but it can keep your organization on firm financial footing should a significant security breach occur.
Cyber Insurance covers financial losses through 2 types of coverage:
First-party coverage: this pays for expenses your firm suffers such as:
Third-party coverage: this pays for 3rd party liability that has suffered a loss as a result of your actions or omissions. For example, you could be sued by a client who has their information leaked following a hack of your computer systems.
How much cyber risk coverage you need will depends on the type and size of your business. For reference, you can look at the outcome of similar businesses that have fallen victim to cyber-attacks.
Anyone who store sensitive data, like customer data, or uses online services like gmail will need Cyber Insurance. In the past, Cyber Insurance was a niche product. But the rapid rise in cyber-crime targeted towards businesses has brought this product to the forefront. These days, almost all businesses gather sensitive client information or store their own confidential data on computer devices. Even with good computer security and backup systems, nothing is perfectly safe. Cyber Insurance serves as that last line of defence to indemnify your business and your clients if you fall victim to a cyber-attack.
Each insurer has its own proprietary way of calculating insurance premiums, but there are several factors that we know have a significant impact on your premiums:
Every business is unique in the services and products they provide. Complete our online application anytime and get your free custom quote delivered.
While cyber-crime is a type of crime, most crime insurance policies only insure against physical crimes (i.e. many crime insurance policies have exclusions against the theft of monies or property by “electronic instructions”). Cyber insurance fills that gap by adding coverage for crimes that take place in cyberspace. For example, sending fraudulent emails, social engineering, breach of network security, and other attacks leading to compromised data.
Professional Indemnity Insurance (sometimes also referred to as E&O Insurance or Professional Liability Insurance) is meant to protect professionals against liability for alleged failures to provide proper professional services, misrepresent information, and negligence. On the other hand, Cyber Insurance is meant to protect businesses against cyber-crimes such as phishing, security breach, and other attacks leading to lost income or personal/confidential info leaking.
All Cyber Insurance policies come with important exclusions. But to help you better understand the
coverages, here are a few:
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