ALIGNMENT Matters | insurance insights & news
What you need to know about the risky new workplace…
Are you reading this in your new home office? It’s only taken about three months for COVID-19 to fundamentally transform how Canadians work and live. People have pivoted from daily routines of commuting miles to mere steps. Team members who used computer systems controlled and provided by their employer are now making Zoom teleconference calls. Some employees are accessing extensive amounts of information and data using their personal devices and computers.
The shift to working-from-home has its perks as well as its challenges. For many businesses, remote working is uncharted territory and has created significant additional risk, which cyber criminals are taking advantage of.
This is why we’ve made it simple, easy and fast to buy cyber insurance for your business 100% online on our website.
Given the dramatic increase in cybercrime and the number of questions and quote requests we are getting, we felt it was important to dedicate this entire newsletter to managing cyber risks.
If you and/or your employees are working remotely, we hope you’ll find these Canadian Centre for Cyber Security best practices helpful.
[e-news] ALIGNMENT Matters | issue 43 | e-news you can use!
Here are some of the new and emerging cyber risks that you should be aware of:
1. How your business may be vulnerable to cyber attacks.
2. Is cyber insurance mandatory now in Canada?
3. What to expect when applying for cyber insurance.
4. Why cyber insurance is a must for Canadian businesses.
5. Yes, you can buy 100% ONLINE cyber insurance right now!
6. How to finance your business insurance premium now.
If you have any questions or concerns about what cyber insurance can cover, please call us toll-free at 1-866-287-0448. Leave us a Live Chat message on our homepage, send me an email or contact any of us. Please also visit us on alignedinsurance.com as well as via Twitter and Linkedin.
We trust that you, your colleagues, friends and family are safe and healthy. The ALIGNED Insurance team remains ready to help and we look forward to hearing from you.
Andrew Clark, MBA, CAIB, RF, FCIP, RPLU
President & CEO, ALIGNED Insurance
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[e-news] ALIGNMENT Matters | issue 43 | in depth
Why cyber security risks can’t be ignored
Phishing. Denial of Service (DoS). Malware. SQL Injection. Hackers know how to find and exploit weaknesses in network and security software to extort businesses, steal and sell data, and wreak economic havoc on companies of all sizes.
Unfortunately, cyber risks are not generally covered by traditional business liability policies. The good news that a cyber insurance policy is specifically designed to help your business recover from costs related to a cyber attack. Keep reading…
Understanding mandatory cyber breach reporting requirements in Canada
The Personal Protection and Electronic Documents Act (aka PIPEDA). Since November 2018, large and small businesses alike are “subject to PIPEDA requirements to report and notify breaches of security safeguards that pose a real risk of significant harm, and to keep records of all breaches of security safeguards.”
In fact, PIPEDA puts more more specific record-keeping, reporting and notification obligations on commercial businesses to manage digital data breaches that may result after a hacker attack. Even with the best firewalls and IT practices in place, PIPEDA is why Canadian business leaders now consider cyber insurance mandatory. Keep reading…
60% of small businesses close permanently after a cyber attack.
Learn why cyber liability is now considered essential…
The risks are real. How cyber attacks can create havoc for your business or non-profit.
Not fake news. Cyber risks are real. And growing. And no Canadian business is immune to cyber risk exposures. The reality is…nearly one in five (18%) businesses recently polled by the Insurance Bureau of Canada (IBC) confirmed they’ve been affected by either a cyber attack or data breach in the past 24-months.
“A new Leger poll, commissioned by IBC, of 300 owners of small and medium-sized businesses with fewer than 500 employees, showed that 44% of small businesses do not have any defences against possible cyber attacks, and 60% have no insurance to help them recover if an attack occurs.”
All too often we hear from non-profit leaders that they don’t believe a cyber hacker would target their organization. Cyber criminals don’t discriminate. Regardless if you are a corporation or a not-for-profit you have assets that criminals want. If you’re collecting, recording or storing data – especially financial, personal or medical info – you are already at risk. Keep reading…
Applying for cyber insurance? Check out these 5 coverage application insights…
24/7/365. Cyber attacks can and do happen at all hours of the day and night. Complex cyber risk can add up to a complex insurance application process. This is why gathering accurate data is considered a best practice.
Before the application process, it’s critical to speak with your information technology (IT) management team and any vendors you utilize in order to collect accurate data. It’s important to quantify the data on your network. Above all, get a solid estimate on how much personally identifiable information you have, including employee data. Keep reading…
Yes, premium financing is available for your business insurance Canada!
We know that bottom line always matters. When you run a business, you are always keeping an eye on the bottom line. We are too. This is why we make it simple to pay your commercial insurance premium.
Contactless business insurance.
5 ways to manage your ALIGNED coverage remotely.
- Insurance claim? Report it 24/7/365. Call 1-844-890-3213.
- Have a question? Call your ALIGNED Advocate or us toll-free at 1-866-287-0448.
- Need insurance? Get your quote started now using our simple online form.
- Get many fully online commercial insurance products on alignedinsurance.com.
- Need to pay an ALIGNED Insurance invoice? You can pay online here.
In conclusion, we’d like to thank you for reading ALIGNMENT Matters Issue 43! Find out more about our story and connect with one of our Canadian business insurance brokers today at 1-866-287-0448! Our experienced commercial insurance brokers are here to help you to determine the types of coverage you need most.
© 2020 ALIGNED Insurance. All rights reserved. ALIGNMENT Matters issue 43 is a publication of ALIGNED Insurance Brokers.
ALIGNED brokers understand the nuances of commercial insurance coverages and can help you make informed decisions about your business insurance options. Bookmark our insurance info blog to keep current with Canadian insurance insights.
It’s time to get insurance value and choice aligned. Want Canadian business insurance that aligns with your bottom line? We can help. 365. Call us toll-free at 1-866-287-0448 or click to Get a Quote!
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