Cybersecurity
As companies of all sizes become increasingly dependent on technology, the number and sophistication of cyber attacks is also on the rise.
Don’t underestimate cyber threats—get specific coverage to prevent losses in the event that your network is hacked.
What are cyber risks?
Any form of unauthorized, intrusive attack on your computer systems (servers, computers, phones and any other related equipment) is a cyber threat.
The goal of these unauthorized network breaches, which occur in the form of cyber attacks, is to obtain secure company information in order to cause deliberate harm or get money
Some of the most common cyber attacks are:
Ransomware
This cyber attack is intended to jam or block access to data or systems until the victim sends money.
Cyber extortion
This form of blackmail occurs when a cybercriminal demands large sums of money from a company by threatening, for example, to hold its data or operating system hostage.
Malware
Malware is malicious software that attacks your computer systems. Viruses, Trojan horses and computer worms are all types of malware. This unauthorized entry allows cybercriminals to steal information, damage data, redirect online visitors, spy on online activities and impersonate company employees or managers.
What is cybersecurity insurance?
As a complement to your business insurance, this insurance is designed to cover financial losses caused by a cybersecurity incident.
Here are some of the things for which you can be compensated:
- Expenses incurred as a result of computer or telephone hacking;
- Incident response costs;
- Extortion costs related to e-commerce;
- Costs for damage to the computer system;
- Expenses related to digital assets;
- Losses due to interrupted activity
As it also reimburses losses suffered by third parties, it covers:
- Civil liability related to network security;
- Multimedia liability such as infringement of intellectual property rights;
- Violation of the right to privacy;
- Defamation
Which companies should take out cybersecurity insurance?
No matter your company’s size or line of business, if …
- You collect confidential data;
- You use the Internet or computer software to store data;
- Your employees have remote access to your organization’s network;
- Some of your operations are automated;
- Your team uses cell phones;
- Your managers rely on computer data to make their decisions;
… you are not immune to cyberattacks!
And even if you think your data is of no interest to hackers, know that they could simply use it to blackmail you by threatening to destroy it, sell it to your competitors or publicly disclose it.
How do I take out cybersecurity insurance?
Several criteria must be evaluated when purchasing cybersecurity insurance that adequately meets the specific needs of your business. Among them are the number of employees, the number of workstations, the nature of your activities and the current level of computer protection.
For personalized cybersecurity insurance, contact one of our independent brokers, who will thoroughly analyze your company’s situation and look into various insurance companies to find the coverage you need at the best possible price.
On est passionné d’assurance
On compare les meilleures protections
On parle votre language
What are the solutions for combating cybercrime?
While cybersecurity insurance provides peace of mind, there are other things your company can to do limit the risk of cyber attacks.
echnology solutions, such as security software, a personalized monitoring service and regular data backups are strongly recommended.
To learn more about protecting your company’s data, check out this blog article
Need insurance for your business?
We can help you.
Let our brokers find you the right coverage for your company’s needs.