Where Can I Get Data Breach Insurance In Canada?

Anyone who’s been prompted to change a password in the past 30 days knows that cybercrime affects us all and with new PIPEDA mandatory data breach notification regulations taking effect on November 1, many business owners and leaders are asking “Where can I get data breach insurance in Canada?” Soon, every organization will be required to report data breaches to affected people and the Office of The Privacy Commissioner of Canada. Because our clients are asking “Where can I get data breach insurance in Canada?” we are working together with top insurance companies to deliver data breach insurance options as well as simplifying the process to get a free data breach insurance quote.

Trying To Figure Out “Where Can I Get Data Breach Insurance In Canada?

Well, if you run a business, you have access to what’s known as “personally identifying information” the data that cyber thieves can use to commit illegal actions and/or fraud. In general, this data includes credit, healthcare or personal identity information – essentially the facts that are directly linked to an individual such as:

  • an email address
  • driver’s license info
  • sensitive medical, healthcare and tax info
  • a social insurance number
  • debit &/or credit account number(s)

In fact, there are many ways in which criminals can access personal information. In particular, businesses – especially small businesses – should be aware of scenarios like:

  • AIRBNB or other rental applications – that include names, contact info, email addresses and more that are stolen from your property manager’s computer system
  • customer credit card records that are stolen from your online retailer’s website
  • a business laptop that’s stolen from your accountant’s premises that includes your business tax records

The Ponemon Institute’s 2017 Cost of Canada Data Breach Study: Canada, finds that “services, financial services and technology companies had a per capita data breach cost above the mean of $255.”1 It’s expensive, time-consuming and stressful to rectify any data breach and that’s why data breach insurance has been specifically designed to support organizations in a variety of situations.

“Where Can I Get Data Breach Insurance In Canada?”  Facts To Know, Now.

It doesn’t take long for data breach notification expenses to add up. There’s the cost of IT and PR experts and then there are the additional costs of time and mitigating reputational damage.  To address data breach risks, we work with top insurance companies to assess and deliver data breach insurance that includes:

  • legal support to notify people who are impacted
  • fraud alerts and identity restoration case management for identity theft
  • notification services to the Office of the Privacy Commissioner of Canada
  • forensic information tech to confirm the scope and scale of the breach and people impacted
  • public relations support to help manage business relationships

A single data breach can have a devastating impact on your bottom line. That’s why we craft data breach insurance products that manage the complicated risks associated with a data breach situation.

ALIGNED Across Canada  

100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves nearly 1,400 clients across the country. As experts in delivering business insurance Canada solutions and consistently recognized as one of the best business insurance brokers in Canada, ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED business insurance brokers create, negotiate and deliver the best business insurance and risk management strategies/solutions to organizations like yours. As one of Canada’s fastest growing insurance brokerages, we invite you to learn more about us and connect @ALIGNEDonRisk, on Facebook or LinkedIn.

Source(s): 1 Ponemon Institute’s 2017 Cost of Data Breach Study: Canada

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