Protect your business with our new cyber liability insurance.
According to recent studies, small and medium-sized businesses in Canada have seen more than a 40% increase in cyber attacks since 2014. As recently as 2016, small and medium-sized businesses are reported to have spent more than $7 million to recover from data breaches. Not only is it important for your business to be able to securely handle the sensitive information of your customers, but you also need protection when you are dealing with information breaches, hacking of your business’ devices, or break-ins to your other online systems.
At Noble Insurance, we believe that your business should be protected from all sides, even if you employ a strong team of IT professionals to help with your data security.
It is important to know that not all cyber liability insurance policies are created equally or provide the same protection.
While some insurance companies offer cyber advisory services, you may find yourself lacking in insurance liability coverage as you deal with the aftermath of an online attack. You need to understand the coverages being offered in order ensure protection against data breaches, network business interruptions and cyber extortion. Cyber liability insurance policies may also include liability insurance for public relations and crisis management services, as well as risk management advice as you navigate the choppy waters of cyber security concerns.
It is expected in the coming year that the Data Privacy Act (DPA) will take effect, mandating that businesses report data breaches to their customers. Let our brokers at Noble Insurance help you prepare your business now and for the future by adding a cyber liability insurance plan today.