Business Insurance >>

Cyber Insurance

A cyber liability policy can help you reduce damage and remain on top of cyber threats whether you run a small start-up or a large corporation. It might seem like your business is well protected from cyber-criminals, or that it is too small to be targeted, but the techniques used by hackers are becoming more sophisticated, and as a result it is important to be aware that you could be leaving yourself vulnerable.

We offer cyber insurance tailored to the needs of your business to give you peace of mind. Our coverage can extend beyond providing protection against security breaches and provide you with access to a team of experts that will assist you in minimizing the damage to your business in the event of a security breach.

Standard cover includes:



Data breaches following employee theft



Data breaches following loss of a memory stick



Cyber business interruption



Denial of service attacks



Data breaches following hacking

INSURANCE

What are the cybercrimes I need to protect against?

A business is often a victim of four types of cybercrime:

Phishing – Phishing is a form of fraud that involves using a phone, text or email to steal personal information. The attacker usually poses as a credible and trustworthy entity (such as your bank) and asks for your PIN, address or password.

Malware – Malware is often spread by suspicious emails, files, downloads, or links. Upon opening, harmful software infects your system, allowing attackers to track your activities and steal private data in the background. Hackers could sell or use this information for their own purposes.

Ransomwear – A ransomware attack encrypts your data and holds it at
ransom, requiring you to pay a fee in exchange for its release.

Hacking – It is possible for hackers to act without your intervention, unlike the other three. An expert hacker finds vulnerabilities in your computer system and uses them to gain access.

Faq's

Common Inquiries

DONT DELETE THIS

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

Can cyber insurance help my business before an attack?

Absolutely! You may have access to risk audits and cyber security recommendations, to prevent attacks from happening in the first place, depending on the policy you select (our agents can present you with different options). Additionally, some companies offer employee training, which is crucial because employee behaviour contributes to approximately 80 percent of all cyber incidents.

In what situations does cyber insurance not cover you?

There are exclusions in cybersecurity insurance that potential policyholders should be aware of. Most cybersecurity insurance policies do not cover the following:

• Costs associated with upgrading your internal IT systems following a cyber incident.
• Loss of value resulting from intellectual property theft.
• Prospective loss of profits.

Despite the fact that these losses and costs are not included in standard cyber insurance requirements, obtaining cybersecurity is important.

Will my cyber insurance protect me if an employee caused the attack?

Cyber insurance covers a business regardless of whether an employee accidentally caused the attack by opening a malicious email or clicking on a malicious link.

Expert advice from Prima Insurance Brokers

We are able to tailor a cyber insurance policy to meet the needs of your business. We can not only provide security breach coverage to your business, we can also provide you with access to experts who will work with you to minimize the loss and damage to your business.

Additionally, we offer you tools and resources that will help you stay up-to-date with the evolving risks, understanding your exposure and adjusting your response plan accordingly.

Request a Quote

Speak to our friendly team