Insurance is subject to terms, conditions, limitations and exclusions. Please refer to the insurance policy for complete details or discuss with our licensed insurance team:
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Overview
Cyber Insurance helps to protect businesses from the financial, legal, and operational impacts of cyber incidents and attacks, such as data breaches, hacking, ransomware, and online fraud. It covers both direct costs to respond to an incident and liability claims from affected third parties.
At Ownr Insurance, we offer:
First party coverage: Compensation that is directly made to you as a result of a covered claim)
Third-party coverage: Defence costs and compensation to another party when you are liable for damages.
Cyber insurance is not available stand-alone at Ownr Insurance and must be purchased as an add-on with Commercial General Liability and Business Contents insurance packages.
Aviva Cyber Insurance for Business: What is covered?
The following are cyber insurance coverages are included in our Cyber Insurance add-on:
Data Compromise & Response Expense
Provides resources to respond to and manage a cyber breach resulting in the loss of personal information.
Computer Attack
Covers the costs to replace, re-create or restore data and restore systems following a hack, malware attack or denial of service attack. Coverage includes loss of income, extra expenses and public relation services.
Cyber Extortion
Covers the costs to eliminate a cyber extortion threat and for the costs of hiring a negotiator or investigator to eliminate the threat.
Data Compromise Liability
Covers defence and settlement costs resulting from litigation arising from loss of personal information due to data compromise incident.
Network Security Liability
Covers defence and settlement costs for litigation resulting from a failure in system security or due to a loss of third-party corporate data.
Electronic Media Liability
Covers defence and settlement costs for infringement, defamation, or privacy violation litigation arising from the posting of information on your business’s website.
Identity Recovery
Covers expenses incurred to recover after an identity theft incident impacting a business owner, partner, or executive, including case management and expense reimbursement for out-of-pocket costs, legal expenses, lost wages and child or elder care.
Misdirected Payment Fraud
Reimburses funds that are lost due to criminal deception affecting your business or the deception of your financial institution to send money to a fraudulent destination.
Aviva Cyber Insurance for Business: What is not covered?
Similar to other coverages, Cyber insurance contains exclusions that explains situations that are not covered. Common exclusions include:
Criminal, dishonest, fraudulent or Illegal acts performed by the insured business
Intentional mishandling of personal information
Deficiencies in systems
Identity theft not reported to the police
War or Terrorism
The above list of examples may not cover all scenarios relevant to your business. If you have any questions or need assistance, contact our licensed insurance team for an insurance consultation.
Disclosure: Products distributed by RBC Commercial Insurance Agency Inc. and underwritten by Aviva Insurance Company of Canada. Insurance is subject to terms, conditions, limitations and exclusions. Please refer to the insurance policy for complete details.