Cyber Liability Insurance Brokers

As technology becomes increasingly important for successful business operations, the value of a strong Cyber Liability Insurance policy will only continue to grow. The continued rise in the amount of information stored and transferred electronically has resulted in a remarkable increase in the potential exposures facing businesses. In an age where a stolen laptop or hacked account can instantly compromise the personal data of thousands of customers, or an ill-advised post on a social media site can be read by hundreds in a matter of minutes, protecting yourself from cyber liability is just as important as some of the more traditional exposures businesses account for in their general commercial liability policies.

Why Cyber Liability Insurance?

A traditional business liability policy is extremely unlikely to protect against most cyber exposures. Standard commercial policies are written to insure against injury or physical loss and will do little, if anything, to shield you from electronic damages and the associated costs they may incur. Exposures are vast, ranging from the content you put on your website to stored customer data. Awareness of the potential cyber liabilities your company faces is essential to managing risk through proper coverage.

Possible exposures covered by a typical cyber liability policy may include:

  • Data breaches –Companies are beginning to have a greater responsibility to protect clients’ personal information. In the event of a breach, notification of the affected parties is now required by law in Alberta, and may soon be required throughout Canada. This will add to costs that will also include security fixes, identity theft protection for the affected parties and protection from possible legal action. While companies operating online are at a heightened risk, even companies that don’t transmit personal data over the Internet, but still store it in electronic form, could be susceptible to breaches through data lost to unauthorized employee access or hardware theft.
  • Intellectual property rights – Your company’s online presence, whether it be through a corporate website, blogs or social media, opens you up to some of the same exposures faced by publishers. This can include libel, copyright or trademark infringement and defamation, among other things.
  • Damages to a third-party system – If an email sent from your server has a virus that crashes the system of a customer, or the software your company distributes fails, resulting in a loss for a third party, you could be held liable for the damages.
  • System Failure – A natural disaster, malicious activity or fire could all cause physical damages that could result in data or code loss. While the physical damages to your system hardware would be covered under your existing business liability policy, data or code loss due to the incident would generally not be covered.
  • Cyber Extortion – Hackers can hijack websites, networks and stored data, denying access to you or your customers. They often demand money to restore your systems to working order. This can cause a temporary loss of revenue and generate costs associated with paying the hacker’s demands, or rebuilding if damage is done.
  • Business Interruption – If your primary business operations require the use of computer systems, a disaster that cripples your ability to transmit data could cause you, or a third party that depends on your services, to lose potential revenue. From a server failure to a data breach, such an incident can affect your everyday operations. Time and resources that normally would have gone elsewhere will need to be directed towards the problem, which could result in further losses. This is especially important as denial of service attacks by hackers have been on the rise. Such attacks block access to certain websites by either rerouting traffic to a different site or overloading an organization’s server.

Cyber Liability Insurance is specifically designed to address the risks that come with using modern technology–risks that other types of business liability coverage simply won’t cover. The level of coverage your business needs is based on your individual operations and can vary depending on your range of exposure. It is important to work with a broker who can identify your areas of risk so a policy can be tailored to fit your situation.

Alpine Insurance & Financial Inc, Your Coverage Expert

As reliance on technology continues to increase, new exposures continue to emerge. As your business grows, make sure your cyber liability coverage grows with it. Alpine Insurance & Financial Inc is here to help you analyze your needs and make the right coverage decisions to protect your operations from unnecessary risk.
This Coverage Insights is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice.

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Save on your cyber insurance with the help of our brokers

Calgary Cyber Insurance

If your business in Calgary uses a computer to communicate or stores data on a network, you are at risk of a cyber-attack. In our digital age, insurance coverage for a physical building and assets is not enough – businesses must protect themselves with cyber insurance. A cyber insurance policy helps organizations restore employee and client identities, provides protection against legal liabilities, and offers financial recovery from damages and downtime. At Alpine Insurance, our brokers work with you to build a cyber insurance policy so you can run your business with peace of mind.

Canmore Cyber Insurance

We live in an incredible time where we have access to information right at our fingertips and virtual communication is convenient and quick. Unfortunately, this comes with the risk of identity theft and a serious data breach that can potentially put a company out of business. Most, if not all, companies today are at risk of a cyberattack simply for the fact that businesses rely on a network and the Internet to operate. Cyber insurance is designed to help organizations mitigate the impact of damages and loss resulting from a cyberattack. Let our brokers at Alpine Insurance help you operate your business worry-free with the proper cyber insurance policy.

Red Deer Cyber Insurance

The unfortunate reality of a cyberattack is that it leaves employees and clients vulnerable to identity theft. Without cyber insurance, businesses pay out-of-pocket for legal fees, damage repair, and recovery which can be enough to put a company out of business. Having the support of cyber insurance means that your business is protected against significant financial loss and has a chance to continue operations. At Alpine Insurance, we know that your business is your livelihood and we want to help you protect it. We proudly serve the communities of Calgary, Canmore, Red Deer, Lethbridge, Edmonton, Faust, and surrounding areas.

Lethbridge Cyber Insurance

Most organizations today communicate electronically and store sensitive information on a network, which comes with the threat of a possible data breach. In our digital age, businesses must consider the reality of cyberattacks and the legal action that can be taken against them. Cyber insurance provides a company with protection from financial loss due to legal damages, crisis management expenses, business interruption, investigation expenses, network restoration, and more. If your Lethbridge business uses a computer or network, you’re vulnerable to a cyberattack. Our brokers at Alpine Insurance can help you protect your livelihood and make sure that your company can continue to operate after recovering from a data breach.

Edmonton Cyber Insurance

For many business owners in Edmonton, their company is their livelihood. A cyberattack that results in major legal damages and financial loss can spell disaster and ultimately, the end of a business. At Alpine Insurance, our brokers understand how devastating this can be to you, your family, employees, and clients. Protect your business against the impact of a cyberattack. We work with you to build a cyber insurance policy that covers expenses from legal damages, crisis management, data restoration, network repair, business interruption, and more. We proudly serve businesses in Edmonton, Calgary, Canmore, Red Deer, Lethbridge, and Faust, and surrounding areas.

Faust Cyber Insurance

Did you know that small and mid-sized businesses are the most vulnerable to a cyberattack? Without the resources for heavy-duty cybersecurity that big corporations can afford to invest in, small and medium organizations experience cyberattacks every year. Business owners in Faust must consider the reality of a possible cyberattack that leaves sensitive data in the hands of online criminals. Without cyber insurance in place, you leave your business to chance. Let our brokers at Alpine Insurance help you build a policy that protects you against legal liabilities and financial loss. The peace of mind that your business can survive a cyberattack recovery is invaluable.

We’re here to answer any questions you may have