Cyber Liability Insurance

Cyber liability insurance, also often called cyber security insurance, protects your construction business against financial losses and liabilities from cyber-related exposure.

Cyber liability insurance can help companies of all sizes mitigate risks and recover quickly from cyber incidents. The Buildsure team is here to help you find affordable cyber insurance that best suits your needs. Connect with them today.

What is Cyber Security Insurance?

Cyber security insurance is a coverage that protects businesses from the consequences of cyber threats. Businesses face a wide range of threats such as data breaches, cyberattacks, network breaches, and ransomware attacks and cyber security insurance is there to cover the financial losses and liabilities from them.

What Does Cyber Liability Insurance Cover in Canada?

A typical cyber liability policy in Canada covers a variety of cyber risks. While each policy may differ, many include coverage for data breach response costs, data loss and restoration, ransomware and cyber extortion, business interruption losses, and liability protection.

The Buildsure team is here to help you understand the cyber liability coverages available in Canada, assess what you need, and obtain multiple quotes from their network of insurance companies.

What Does Cyber Liability Insurance Cover in Canada

Is Cyber Insurance Worth It?

The best way to determine if cyber insurance is right for your business is to evaluate your company's risk profile. A Buildsure broker can help you do this by assessing the nature of your business, the sensitivity of the data you handle, the financial impact of a breach, and any regulatory or contractual compliance.

They will provide their advice, and recommendations, and if needed, tailor a cyber insurance policy to your cyber risk profile.

FAQs of Cyber Insurance

If you have specific questions on cyber liability insurance, the Buildsure team is here to help. In the meantime, here are a few questions our clients typically have.

How Much Does Cyber Insurance Cost in Canada?

The cost of cyber insurance varies greatly depending on the business. Insurance providers look at the size of the company, the industry it is in, the volume and sensitivity of the data that is collected, susceptibility to cyber threats, and claims history. A cyber insurance policy premium will also vary depending on the features and endorsements of the policy and the general market conditions.

What is the Limit of Cyber Liability Insurance?

The limit of a cyber liability policy, which is the maximum amount paid out for covered losses and liabilities, will differ depending on the insurance provider.

That's why it is essential to partner with a broker, like the Buildsure team, who will recommend the limit you should have and negotiate with insurance companies to obtain the right cyber insurance policy for your business.

How Important is Cyber Liability Insurance Coverage?

Cyber liability insurance is an important addition to a company's insurance coverage as it provides financial protection against the costs of cyber incidents. Cyber threats are on the rise, and purchasing cyber liability insurance will give you peace of mind, help you manage your risk exposure, and provide financial stability in the event of a cyber attack.

Why Do Builders Love Buildsure?

Our Buildsure broker, Ryan, has been an essential part of our team, ensuring that we're covered for all eventualities as we tackle new projects and challenges in the homebuilding sector.

John Vranic

Vranic Homes

The in-depth knowledge of the construction sector has been instrumental in identifying potential exposures and crafting policies that address them comprehensively. Their responsiveness and attention to detail make them a pleasure to work with, and we highly recommend their services to anyone in the homebuilding industry.

Raj Rai

Raison Homes

Our broker has been an invaluable partner in helping us navigate the complexities of the homebuilding industry. They've taken the time to understand our business inside and out, providing us with personalized insurance solutions that offer the right level of protection at competitive rates.

Kevin Sharpe

Sharpe Industries Inc.

Cyber Insurance Quote

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