The Real Cost of Cyber Liability Insurance in Ontario: Premiums, Limits, and Requirements
Jun 1, 2026Read More
Cyber Insurance
Cyber protects your business when an incident hits your systems, your data, or your money. That includes ransomware, data breaches, business email compromise, and invoice fraud.
Cyber Coverage Options
First-Party Response (your costs)
The cost to investigate and recover, including forensics, breach coaching, ransomware response, data restoration, and business interruption. Ransomware continues to be one of the most disruptive cyber threats facing Canadian organizations.
Third-Party Liability (claims against you)
Privacy liability and network security liability if a customer, vendor, or other third party alleges you failed to protect data or allowed a cyber event to harm them. This is the we're being sued side of cyber.
Financial Fraud (money leaving your account)
Social engineering and funds transfer fraud, like invoice redirection and business email compromise. This is one of the most important pieces for real-world businesses and is a very common source of claims.
Financial Fraud Is the Sleeper Exposure
01
Vendor invoice redirection
You get an email that looks like a normal vendor thread with new banking details. The invoice is real. The account is not. The payment goes to the wrong place.
02
Business email compromise
An attacker spoofs or compromises an email account and uses that trust to push an urgent wire or change payment instructions.
03
Payroll and executive impersonation
Fake payroll change forms, CEO wire requests, gift card scams. These are simple plays, and they still work.
04
Fraud is common in Canadian business incidents
Statistics Canada found scams and fraud were reported by 50% of impacted businesses in 2023, making it one of the most prevalent methods.
Vendor invoice redirection
You get an email that looks like a normal vendor thread with new banking details. The invoice is real. The account is not. The payment goes to the wrong place.
01
02
Business email compromise
An attacker spoofs or compromises an email account and uses that trust to push an urgent wire or change payment instructions.
Payroll and executive impersonation
Fake payroll change forms, CEO wire requests, gift card scams. These are simple plays, and they still work.
03
04
Fraud is common in Canadian business incidents
Statistics Canada found scams and fraud were reported by 50% of impacted businesses in 2023, making it one of the most prevalent methods.
Cyber is usually less expensive than people expect.
You can start small and scale up as your exposure grows.
Dedicated cyber policies often start around $250K liability limits, and many businesses under $5M revenue commonly land around $2M-$5M limits with a fraud sub-limit. We'll help you understand your options.
Key Things to Know
01
Small & mid-size businesses often targeted
BDC has cited research indicating 73% of small businesses have experienced a cybersecurity incident. That can range from phishing attempts to more serious events, but it reinforces the point: too small to target is not a strategy.
02
Ransomware is costly, even before you talk about the ransom
79% paid ransom demands, and the typical payment was at least $25,000. Even when ransoms are not paid, response and downtime costs are often the bigger operational hit.
Small & mid-size businesses often targeted
BDC has cited research indicating 73% of small businesses have experienced a cybersecurity incident. That can range from phishing attempts to more serious events, but it reinforces the point: too small to target is not a strategy.
01
02
Ransomware is costly, even before you talk about the ransom
79% paid ransom demands, and the typical payment was at least $25,000. Even when ransoms are not paid, response and downtime costs are often the bigger operational hit.
How We Structure Cyber So It Works for You
Practical coverage that maps to real losses.
FAQ
Frequently Asked Questions
Is cyber insurance just for big companies?
No. Canadian sources show small businesses are targeted and cyber incidents are common.
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