Online Cyber Insurance for Canadian Small Businesses

Posted by Mike Groner on Nov 28, 2018 11:06:56 AM

WHAT IS CYBER LIABILITY?

Cyber liability insurance goes by many names these days: CyberInsurance; Cyber Security, Cyber Risk, Hack Insurance and others. However, the intent of all of these polices remains the same. A Cyber-insurance policy is an insurance product used to protect your business for data breaches on your computers that exposes your client’s information.

Get a no obligation online quote here now  ➭

WHAT DOES A CYBER LIABILITY INSURANCE POLICY COVER? 

  • Comprehensive Cyber Liability: Combines third-party (your customers/clients) cyber liability and first-party (you and your business) cyber crime expense coverage in one form.
  • Theft and Fraud: Covers destruction or loss of digital data resulting from a criminal  cyber event.
  • Business Interruption: Covers lost income and related costs when unable to operate due to a cyber event or data loss
  • Extortion & Ransomware: Provides coverage for costs associated with investigating threats to commit cyber attacks and payments to those who threaten to obtain and disclose sensitive information
  • Forensic Investigation: Covers the legal, technical and forensic services necessary to assess whether a cyber-attack has occurred, to assess the impact of the attack and to stop the attack
  • Extortion: Provides coverage for the costs associated with the investigation of threats to commit cyber attacks against the policyholder’s systems and for payments to extortionists who threaten to obtain and disclose sensitive information.

CAN MY BUSINESS AFFORD CYBER INSURANCE?

While the most prominent cases report have been attacks against large companies such as Target, Sony and Home Depot; in fact, 43% of attacks are occurring against small businesses. Of the small businesses attacked, 60% never recover after a hack and go out of business within 6 months because of a lack of cyber security.  Starting from just $300. Annually,  with limit options up to $1,000,000.Cyber Liability for Small Business

Front Row Insurance’s Hackinsure provides protection against a range of online hazards – peace of mind is available online in five minutes with no need to talk to a broker.

TYPES OF CYBER CRIME:

  • Phishing – obtaining valuable information such as a credit card details or passwords by posing as a trustworthy company (e.g., a supplier) via email.
  • Ransomware – When a company’s computer system is infiltrated by a malicious program that encrypts its files and demands a ransom (typically in bitcoin) to return the data.
  • Social Engineering – Criminals impersonate an executive of a company in an email in order to obtain a money transfer or sensitive data from an unsuspecting employee. These emails are often targeted to junior employees, who may be more susceptible due to lack of training or fear of not responding to the senior executive who was impersonated.

cyber liability small business

WHAT ARE SOME WAYS TO SAFEGUARD AGAINST A CYBER ATTACK?

Now more than ever, it’s important you protect yourself in every possible way. Here are a few additional tips we share with all of our clients, to help guard against the risk of a cyber attack:

  • Developing a password strategy: Using the same password across multiple devices and accounts is the easiest way to compromise security. Once a hacker gets their hands on a password, they can easily use it to compromise employee information as well as customer data, turning a single password breach into millions of dollars in damage.
  • Avoiding collecting or storing payment information: Outsource payment processing and avoid collecting customer payment information such as credit card info on your own. Dedicated security staff have the resources and tools to protect data better than you can.
  • Educating your employees: It might seem like common sense, but it’s not always. Develop a written policy about security and privacy and make sure employees are on board and understand their responsibility to protect any confidential data. No business is “too small” for a hacker - the better prepared you are, the less at risk you are.
  • And, of course, purchasing Cyber Liability Insurance: 90% of small businesses do not currently have cyber insurance. You need to know that your business will be protected against any security breaches. Our new product provides this protection. You can get insured online in a couple of minutes by clicking here.

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About: Front Row Insurance Brokers Inc. is an independent insurance broker that provides cyber and office insurance for the lowest possible cost in addition to arranging custom policies for the entertainment industry. Should a claim occur, Front Row ensures that their clients receive the money they are owed per the insurance policy, as quickly as possible. Front Row has offices in Vancouver, Toronto, Montreal,  Halifax, Los Angeles, New York, Nashville, and Colorado

Tags: online cyber coverage, cyber liability, hack insurance

New Mandatory Data Breach Law: Get Protected with Cyber Insurance

Posted by Lynne Godfroy on Aug 15, 2018 4:39:11 PM

cyber law

What does the new federal mandatory data breach notification law mean for your small business?

The new law, The Digital Privacy Act, went into effect on Nov 1, 2018, and applies to all businesses that hold identifying information of employees, customers, members, or vendors. In the case of a breach, business owners are required to notify the affected individuals as well as the Office of the Privacy Commissioner of Canada. It’s easy to think that these risks and responsibilities only apply to large businesses, but in fact ‘personal information’ can include something as small as an email address as well as credit card details. As the skills of hackers have grown, it’s become an important part of business management to understand and mitigate the risks in the digital world, no matter the size of the company.

Research shows that roughly 30% of small businesses have been targeted by hackers because their online security is often not as robust as that of a large corporation.  Apart from reputational damage, which can ruin small businesses, there can be significant costs associated with fixing the breach after legal bills are paid, IT professionals hired, and staff time accounted for as they divert from their normal duties to attend to the crisis.

What can a small business owner do to protect his/her business from cyber hackers? Front Row Insurance Brokers provides cheap online cyber insurance coverage that protects against hacking, theft, fraud, business interruption, and legal, technical, or forensic services. Hackinsure starts from only $300 annually and takes about 5 minutes to get your policy. https://hackinsure.frontrowinsurance.com.

Front Row has also put together a number of helpful tips for small business owners to help limit the risk of a cyber attack.  Check out the blog post at https://www.frontrowinsurance.com/articles/topic/cyber-insurance for ideas that should be applied by all employees.

Tags: buy cyber insurance online, hack insurance, Cyber Insurance Canada, BREACH INSURANCE

Is Your Business Prepared for the Consequences of a Cyber Attack?

Posted by David Hamilton on May 25, 2018 2:21:26 PM

Online Hack Insurance

You can insure your business against the worst effects of a hack attack on your computer system by answering a few questions online here: https://hackinsure.frontrowinsurance.com/

For cyber events, here are a few possible consequences of not having the right coverage:

1. Cyber lawsuits often have negative effects on a company’s relationship with its customers. If their private information was stolen during the breach, they may not feel comfortable doing business with you again in the future.

2. Due to the recent rise in cyber hack attacks on small businesses, customers and third-party partners may request that you have this type of insurance coverage before doing business with you. In fact, studies have found that only 50% of consumers feel that businesses are taking the appropriate measures, to safeguard themselves from cyber attacks.


Protect your small business by purchasing Cyber Liability coverage online. Obtain a quote in 2 minutes and a policy in 5 minutes 24/7 with no need to talk to a broker.

  • Custom online Cyber Insurance starting at just $250.
  • Limit options up to $1,000,000

90% of small businesses in Canada do not have Cyberinsurance.

You have seen the news: Sony, Target, Home Depot……. An affordable, fast cyber policy is now available for you to purchase in minutes.

 

Hack-Insurance Features:

  • Comprehensive cyber liability: Combines third-party cyber liability (your customers/clients) and first-party cyber crime expense coverages (you and your business) in one form
  • Theft and fraud: Covers destruction or loss of digital data as the result of a criminal or fraudulent cyber event.
  • Business interruption: Covers lost income and related costs where a you are unable to conduct business due to a cyber event or data loss.
  • Extortion: Provides coverage for the costs associated with the investigation of threats to commit cyber attacks against your systems; and payments to extortionists who threaten to obtain and disclose sensitive information!
  • Forensic investigation: Covers the legal, technical or forensic services necessary to assess whether a cyber-attack has occurred, to assess the impact of the attack and to stop an attack.
  • Payment Card Losses

 

Who should buy this policy?

If your company operates under the assumption that data security breaches and privacy losses only happen to billion-dollar companies, it’s time to change your thinking—before it’s too late.

 

Get an Quote Online In 2 Mins.

Tags: Online Hacker Insurance, Cyber Insurance, Front row Cyber Insurance, buy cyber insurance online, hack insurance, Canadian Cyber Insurance, Cyber Insurance Canada

If you are a graphic designer, yes, you need Hack Insurance

Posted by David Hamilton on May 25, 2018 2:21:10 PM

Hooded Hacker with Hack PhrasesWhat is Hack insurance?

Hack insurance for graphic designers is designed to protect from certain losses associated with data breaches and hacks. After a hack there are costs you will incur such as: notifying your customers that their information provide to you may have been stolen; paying to restore or recover the stolen data; having to redo design ideas such as logos since they are no longer confidential.

Hack insurance is extra important for graphic designers who rely so much on computers and tech for their business.

Hackers are becoming smarter, making it tougher for graphic designers to defend themselves from a data breach. If a cyber attacker is able to gain access to your computer, network or other electronic system, they may be able to steal client information, employee information, accounting information and other valuable data from you. Hack insurance can help with expenses associated with managing the hack such as incident response expenses and data recovery expenses.

Hack insurance can help in the following situations:

  • A hacker gains access to your information including customer information, and threatens to sell or disclose it.
  • A hacker encrypts your company’s computer system, preventing authorized access to your staff
  • A hacker threatens to place a virus into your company’s computer system.

As a graphic designer you are at risk. The cost to transfer the risk to insurance is low compared to the expense of an actual hack.

Protect your graphic design business by purchasing Hack online: https://hackinsure.frontrowinsurance.com/

Obtain a quote in 2 minutes and a policy in 5 minutes 24/7 with no need to talk to a broker.

  • Custom online Cyber Insurance starting at just $250.
  • Limit options up to $1,000,000

90% of small businesses in Canada do not have Cyberinsurance: take five minutes to protect your studio that has taken you so long to establish.

Get an Quote Online In 2 Mins.

Tags: cyber liability, hack insurance, buy cyber insurance online, Front row Cyber Insurance, Cyber Insurance, Online Hacker Insurance

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