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Cyber Liability Insurance

Manitoba Cyber Liability Insurance Designed for You

As a Manitoba business owner you understand risk.  In today’s interconnected world, it seems that no organization is immune from experiencing a cyber attack. In fact, there is a saying in the cyber security community that there are two types of businesses: those that have been breached and know it and those that have been breached and just don’t know it.

When cyber attacks like data breaches and hacks occur, they can result in devastating damage.  Businesses have to deal with business disruptions, lost revenue and litigation. It is important to remember that no organization is immune to the impact of cyber crime.  As a result, cyber liability insurance has become an essential component to any risk management program.

Cyber Liability Benefits

Your Manitoba Cyber liability insurance policies are tailored to meet your company’s specific needs and can offer a number of important benefits, including the following:

  • Data breach coverage
  • Business interruption loss reimbursement
  • Cyber extortion defence
  • Forensic support
  • Legal support
  • Coverage beyond a general liability policy

6 Considerations When Buying Cyber Insurance

The level of coverage your business needs can vary depending on your range of exposure, and it’s important to work with a broker who can tailor a policy to match your business’s requirements. This Coverage Insights details some common elements of cyber insurance policies that you need to consider when building the ideal coverage.

  • Limits and sublimits
  • Retroactive covearge
  • Exclusions
  • Panel provisions
  • Consent provisions
  • Vendor acts and omissions

Are You Adequately Covered?

Cyber insurance is a relatively new form of coverage—one that will continue to evolve alongside emerging cyber threats. As such, cyber insurance requires organizations to be proactive in assessing their risks and ensuring that their insurance coverages are in line with their specific business practices and exposures.

For more information, contact us today.