Cyber Liability Insurance Coverage
Cyber threats have become one of the most significant risks facing businesses of all sizes. Whether you are a small business owner or running a large enterprise, the repercussions of a cyberattack—such as data breaches, ransomware, or unauthorized system access—can be catastrophic. Roughley Insurance Brokers provides cyber liability insurance in Canada that not only insures but also helps you predict and prevent cyber incidents.
Comprehensive Cyber Insurance with Roughley Advisors
Our cyber liability policies include a broad range of protections to ensure complete coverage:
First-Party Coverage
- Data Restoration Costs: Covering expenses to restore electronic data after a cyber event.
- Breach Notification & Monitoring: Services to notify affected individuals and provide credit monitoring.
- Business Interruption Costs: Expenses incurred due to interruptions caused by cyberattacks.
Third-Party Coverage
- Legal Defense & Liability: Covers the cost of defending against claims related to data breaches or privacy violations.
- Regulatory Compliance: Assists in managing fines or penalties imposed under privacy laws.
Additional Coverage Options
- Ransomware & Social Engineering: Coverage for costs related to ransomware payments or financial fraud.
- Reputation Management: Assistance in managing brand damage following a cyberattack.
- Employee Cyber Errors: Protects against costs arising from unintentional employee actions leading to a breach.
Get a Quote
We’ll find you the right coverage.
Roughley commercial clients may qualify for special discounts on your home & auto.
Connect in Oshawa
- 1000 Simcoe Street North Oshawa, Ontario L1G 4W4
- 905.576.7770
- insure@roughleyinsurance.com
Contact in Bowmanville
- 31 King Street West Bowmanville, Ontario L1C 1R2
- 905.697.4257
- insurebowmanville@roughleyinsurance.com
Why Partner with Roughley Insurance Brokers?
Tailored Coverage
Our experts help you understand your risks and recommend coverage that best suits your needs.
Access to Leading Providers
We work with top insurers to secure the most competitive rates and comprehensive policies.
Expert Support
Our dedicated team is with you every step of the way—from selecting coverage to supporting you through a claim.
Proactive Risk Management
We focus on helping you predict and prevent cyber incidents, reducing the likelihood of making a claim.
Who Should Consider Cyber Liability Insurance?
Any business that handles sensitive data or uses digital systems is vulnerable to cyber risks. This includes:
- Retail & E-commerce: High volume of transactions and customer data.
- Healthcare & Financial Services: Sensitive patient and financial information.
- Professional Services & Technology Firms: Confidential client data and reliance on IT systems.
- Manufacturing & Industrial: Use of automated systems and reliance on digital supply chains.
- Education & Nonprofits: Personal information of students, staff, and donors.
- Hospitality & Tourism: Guest data, booking systems, and payment processing.
- Legal Services: Confidential client information and sensitive case details.
- Construction & Real Estate: Project management systems and client data.
- Transportation & Logistics: Digital systems for fleet management and supply chain coordination.
The Consequences of Not Being Protected
Without cyber liability insurance, the financial and reputational impact of an attack can be overwhelming:
- Financial Losses: Costs for system repairs, data recovery, and compensating affected individuals.
- Legal Liability: Responsibility for failing to protect client or employee data, which can lead to lawsuits.
- Regulatory Fines: Penalties for breaching data protection laws.
- Reputation Damage: Loss of customer trust can have long-term consequences for your brand.
Cyber Risks Facing Businesses Today
Small businesses are increasingly at risk—they are targeted 350% more often than large enterprises by cybercriminals. This is because smaller companies often lack sophisticated cybersecurity measures, making them easier targets. In 2021, 21% of Canadian small businesses were victims of a cyber-attack, and alarmingly, 47% of small businesses reported spending nothing on cybersecurity. Despite having some defenses in place, many still find themselves unprepared to negotiate with cybercriminals or address the fallout of an attack.
Cyber Liability Insurance Explained
Cyber liability insurance offers protection against the financial and operational losses that result from cyber incidents, including data breaches, ransomware, and phishing attacks. This coverage helps manage costs related to data recovery, legal fees, regulatory penalties, and reputational damage. At Roughley, we understand that each business is unique, which is why we provide tailored coverage that addresses your specific risks.
Why Cyber Liability Insurance is Crucial for Your Business
Cybercriminals are becoming increasingly sophisticated, targeting businesses with weak cybersecurity protocols. Here’s why cyber liability insurance is essential:
- Financial Protection: Covers costs from data breaches, ransomware payments, and restoring business operations.
- Legal & Regulatory Support: Helps cover expenses related to legal defense, liability claims, and regulatory penalties under laws like Ontario’s PIPEDA.
- Customer Confidence: Demonstrates your commitment to data security, enhancing customer trust and loyalty.
- Business Continuity: Minimizes downtime and ensures that your business recovers quickly after an attack.
- Risk Mitigation: Assists in preventing incidents through coverage options that support proactive cybersecurity measures.
Don’t Wait Until It’s Too Late
Cyberattacks are a matter of when… not if. Protect your business now—contact Roughley Insurance Brokers today to learn more about cyber liability insurance and get a personalized quote.
