With the rise of technology for businesses, there is also a rise in cyber crime. Both cyber attacks and data breaches are new problems business owners must face. As a result, Mutual Fire Insurance now offers two commercial cyber risk insurance coverages to help protect your business.
Virtually every business relies on data and computer systems. When these systems experience a computer attack, there is a real risk of losing critical information that is essential to daily operations. System and data recovery can result in lost income, and can tally thousands in recovery costs. Plus, liability from insufficient systems security can lead to expensive litigation. Cyber Suite helps pay for the costs associated with restoring computers and recovering data. And, this coverage also protects against third-party liabilities that a business might have as a result of a failure of its system security.
Data Compromise Response Expenses
A first party coverage designed to provide the insured with the resources to respond to a breach of personal information.
Computer Attack
Computer Attack is a first party coverage designed to respond to a computer attack that damaged the insured’s data and systems.
Cyber Extortion
Cyber Extortion is a first party coverage designed to help an insured respond to an extortion threat.
Data Compromise Liability
A third-party coverage designed to provide defense and settlement costs in the event of a suit related to a breach of personal information.
Network Security Liability
A third-party coverage designed to provide defense and settlement costs in the event of a suit alleging that a system security failure on the part of the insured caused damage to a third party.
Electronic Media Liability
A third-party coverage designed to provide defense and settlement costs in the event of a suit alleging that information displayed by the insured on a website caused damage to a third party.
Identity Recovery
A first party coverage designed to provide owners of the insured business with case management service and financial resources to recover control of their identities after an identity theft.
© 2022 The Mutual Fire Insurance Company of British Columbia
Design & Development by NAMIC MarketTech.
Find a Broker