Cyber Liability Insurance
Protect Your Data with Cyber Liability Insurance
Western Financial Group is an award-winning brokerage. Our business insurance experts will get you customized cyber liability insurance to protect your client and business data.
Our insurance expertise will benefit your business
We are skilled insurance shoppers. We work with Canada’s leading insurance partners to get you cyber liability insurance at the right value for your business.
Why you need cyber liability Insurance
Does your business use e-commerce? Do you store customer data and your company’s sales and financial information electronically?
If you use computers for any purpose in your business, you could be at risk of a cyberattack or data breach. These attacks can have crippling consequences for your business, both financial and reputational.
Depending on the size of the breach and the information that was taken, the customers who are affected can hold your business liable and sue for damages. That’s where cyber insurance can protect your business.
Did you know that cyberattacks are among the fastest growing claims for businesses?
What cyber liability insurance coverages does my business need?
Privacy breach liability: Coverage for breach of privacy law or the disclosure of protected and personal information.
Network security: Third-party coverage from a failure of security, including theft of mobile equipment and system intrusions.
E-media: Third-party coverage for websites and online content from defamation, libel, disparagement, and infringement.
Digital asset loss: Helps cover the costs to restore or recollect digital assets.
Business interruption: Helps cover actual loss and extra expense in the event of a network outage caused by hacking, virus, or breach.
Privacy breach expense: Coverage for breach of privacy law or the disclosure of protected and personal information.
Regulatory Defence: Covers the costs of hiring attorneys to consult with regulators during investigations and the payment of regulatory fines and penalties that are levied against you as a result of the breach.
Cyber extortion/ransomware: Coverage protects your business against losses caused by ransomware and other types of cyber extortion.
Why choose Western?
We’ll get you commercial insurance that’s at the right value for you. It’s easy, fast, and customized. Get an online quote, text, email, or phone call. Choose what works for you.
FAQ's
What is Cyber Liability Insurance in Canada?
Cyber liability insurance protects businesses from financial losses related to cyberattacks, data breaches, and other cyber threats. It helps cover costs like data recovery, legal fees, notification expenses, and more.
What is business interruption coverage in cyber insurance?
It reimburses you for lost income and extra operating expenses if your business operations are halted due to a cyberattack or system outage. This is especially important for online businesses or service providers.
What is ransomware/extortion coverage?
If your business is hit with ransomware, this covers the cost of the ransom payment (if legally allowed), Forensic investigation to assess damage, Negotiation services with hackers, System restoration and data recovery.
Does cyber insurance cover phishing and social engineering attacks?
Some policies include or offer optional coverage for social engineering fraud (e.g., phishing, business email compromise), but not all. You may need to add social engineering fraud coverage or crime insurance to be fully protected.
What’s the difference between first-party and third-party coverage?
First-party: Covers your own business losses (e.g., data recovery, ransomware payments, lost revenue). Third-party: Covers claims from others (e.g., customer lawsuits or regulatory fines). Comprehensive cyber insurance should include both.
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