Cyber liability business insurance online…how to get it now.
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Cyber risk keeps Canadian business leaders awake at night
The best defence is a good offence. This old-school adage rings as true today as it did when it was first penned three centuries ago. Wikipedia cites none other than George Washington as the source for a phrase that’s oft cited by military and business leaders alike. Specifically, “Washington wrote in 1799: “…make them believe, that offensive operations, often times, is the surest, if not the only (in some cases) means of defence.”1
In the case of cyber risk, having solid defence tactics in place – as well as cyber liability insurance – is an important part of any modern business plan. Hackers keep targeting Canadian business and a recent article in The Globe and Mail highlights why this trend is worrying:
“More than one in five Canadian companies say they were hit by a cyberattack last year, with businesses spending $14-billion on cybersecurity as they confront greater risks in the digital world, according to a new Statistics Canada survey.
The most common suspected motive was an attempt to steal money or demand a ransom payment, according to the survey. Theft of personal or financial information was less typical – less than one-quarter of the cyberattacks – though it was the most cited reason for investing in cybersecurity, StatCan said.”2
Because information is currency to hackers
Small, medium and large sized businesses all face significant downtime and PR issues in the aftermath of a cyber liability event. This is why business leaders search for the best cyber options for their organization. Here at ALIGNED, we know that better cyber liability coverage also needs to be simple and fast for any business to secure.
We know a good offence can help prevent, manage and respond to cyber risk in your business. This is why we’re proud to now offer online cyber liability insurance options for business operations in many industries.
That’s why you can get cyber liability online with us
CIRA (the Canadian Internet Registration Authority) reports that cyber security risk management across Canada isn’t as robust as one might expect. A few eye-opening stats from CIRA.ca: Fall 2018 Cybersecurity Survey Report include:
- “Although 78 per cent were confident in their level of cyber-threat preparedness, 37 per cent didn’t have anti-malware protection installed and a shocking 71 per cent did not have a formal patching policy – exposing these organizations to massive security holes.
- Only 54 per cent of small businesses provide cybersecurity training for their employees even though the most common form of malware seen by our respondents, phishing attacks (42 per cent), directly exploit employees as a point of weakness.
- While 59 per cent of respondents said they stored personal information from customers, only 38 per cent said they were familiar with PIPEDA.”3
This may be because business owners assume their operations are already covered for cyber liability. In fact, it is extremely unlikely that a traditional business liability policy provides comprehensive protection when it comes to most cyber risks. More often than not, CGL policies – aka commercial general liability coverage – explicitly exclude such coverage.
[Good to know.] The current Canadian insurance market offers good value to first-time buyers of cyber liability coverage.
Cyber-related risks are here and growing in scope and scale. Canadian business insurance specifically designed to provide cyber liability coverage is just a click away with our online application.
Quickly secure cyber liability coverage for your business
Get started. To get your online insurance quote for cyber liability started, you just need to confirm what type of business you want to insure. Once you confirm your industry, we need a few simple details to build your quote. This includes your name, your contact info as well as the name of your business.
Related Matters: Cyber Security and Cybercrime in Canada, 2017 – Statistics Canada
Answer two questions about your business. To get a cyber liability quote for your business, you just need to answer two questions:
- What is your estimated annual gross revenue for the next fiscal year?
- What limit of insurance would you like for your cyber coverage?
That’s it and that’s all to get a cyber liability business insurance quote from ALIGNED. Your total quote will clearly outline the cost of your insurance as well as taxes and fees.
Tell us about your operations. As soon as you are ready to move forward with your cyber quote, you’ll be prompted to give some specifics about your business as well as confirm eligibility. With these steps complete, you can complete the checkout process and get your Canadian business aligned with cyber liability coverage.
It’s time to get your business aligned with the best cyber coverage options. Click to get your online cyber liability insurance with us now.
Stay informed. Stay vigilant. Read ALIGNED insights.
We’re proud to help our clients understand business insurance. Every day, we share insights about coverages, trends, risks, the insurance marketplace in Canada and more. Business leaders read our growing online library of insurance info and consult directly with ALIGNED brokers to better understand current and emerging coverage options.
We know how important it is to know what’s included and excluded with your commercial insurance coverage. With every industry struggling to keep up with the rapidly changing marketplace, simply bookmarking a website that features current and useful information can give you informed insights when you make business decisions. That’s why, with more than 850 featured insights, the Insurance Info section of our site is the go to spot for many people who want information about Canadian insurance coverages.
You can also get an online quote for professional & industry-specific insurance:
- Engineers, Architects & Surveyors Professional Liability For Building Design Professionals
- Health & Fitness Facility
- Health, Wellness & Fitness Liability
- Retail Stores / Retailing / Retail
Click + Connect | Get ALIGNED cyber liability insurance
|Get your insurance aligned. Looking for Canadian business insurance that’s ALIGNED with your bottom line? We can help. 365. Call us toll-free at 1-866-287-0448.
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Source(s): 1 Wikipedia: The best defense is a good offense; 2 The Globe and Mail “More than 1 in 5 businesses hit by cyberattacks last year: Statcan survey”; 3 CIRA.ca: Fall 2018 Cybersecurity Survey Report; Cyber Security and Cybercrime in Canada, 2017 – Statistics Canada;