Assurena Insurance Agency is an independent insurance brokerage agency that carries some of the best coverage options in the entire New USA.

Our Contacts

88 Centre Street North,
Toronto L4W 1C9
advisor@assurena.com admin@assurena.com
+1 (419)-507-0468
+1 (213)-345-0468

Working Hours

Monday
9.00 - 5.00
Tuesday
8.00 - 5.00
Wednesday
8.00 - 5.00
Thursday
8.00 - 5.00
Friday
8.00 - 4.00
Satureday
Closed
Sunday
Closed
Cyber Liability Insurance

Cyber Liability Insurance By Parson Insurance .

Cyber Liability Insurance provided by Parson Insurance .

Your networks and data are the lifeblood of your business. From your brand reputation to employee and financial data, cyber attacks are increasing in their frequency and their intensity. Couple that with the need to comply with regulations like the GDPR and it can seem overwhelming. Our team is ready to customize the solutions that can keep your organization and all its information flowing smoother and safer.

25+ years in business
100% customer satisfaction
5 knowledgeable advisors
85+ coverage options

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  • Crisis Management
  • Prior acts
  • Crime extortion
  • Error & Omission liability
  • Network security liability
  • Media coverage

Crisis Management coverage

Risk Factors

Cyber attack on your computers can be harmful and you would become liable for the losses & expenses incurred.

Solution

Depending on the policy, coverage may include the cost of hiring an attorney, forensic accountant, computer expert, or public relations expert to assess the scope of the damage, determine whose data was compromised, help mitigate the loss, and protect the company’s reputation.

Prior acts coverage

Risk Factors

There can be instances where a data breach occurs before your policy’s effective date and You fail to get coverage for the same.

Solution

Prior acts coverage can be taken to help cover claims related to a breach that happened before your policy’s effective date.

Crime extortion coverage

Risk Factors

A data hacker can steal your confidential data and ask for a ransom in return. You will be liable to pay the ransom from your pockets

Solution

This covers a ransom paid to a hacker who’s breached a company’s computer system and threatened to commit a nefarious act like damaging data, introducing a virus, initiating a DoS attack, or releasing confidential data unless the ransom is paid.

Error & Omission liability Coverage

Risk Factors

There can be instances where the cyber-attack caused due to negligence of an employee which results in data breach.

Solution

This covers claims against the business arising from negligent acts, errors, or omissions such as the failure to protect sensitive data, the failure to provide notification of a data breach, or the failure to prevent a security breach that results in a DoS attack or the introduction of a virus.

Network security liability coverage

Risk Factors

Your employee might be accused for being a part of data breach and now the liability comes over the business.

Solution

This provides liability coverage for damages and claim expenses arising out of an actual or alleged act. The coverage includes assessment, remediation, managed security services and business continuity consulting and planning services.

Media coverage

Risk Factors

There is a possibility that your business is sued for copyright or any alterations to someone else’s website where you become liable for lawsuits if any.

Solution

This coverage takes care of third party advertising injury claims which occur on the internet and includes IP infringement, copyright infringement, libel, slander and defacement of a website.

What is Cyber Liability insurance ?

Cyber liability insurance covers financial losses that result from data breaches and other cyber events. Policies vary widely because most insurers that offer cyber coverage use forms they’ve developed themselves. Many policies include both first-party and third-party coverages.

First-party coverages pay out-of-pocket expenses that a firm directly incurs as a result of a breach. Third-party coverages apply to damages or settlements a business is obligated to pay as a result of claims or suits for injuries that result from the company’s actions or failure to act. For instance, a client sues his therapist for negligence after a hacker breaches the therapist’s computer system, steals the client’s treatment records, and releases them online.

Many cyber policies provide a range of coverages, some of which are automatically included and others that are optional. A separate limit may apply to each coverage. Some coverages may apply only after the insured business has paid a deductible or a retention.

Importance of Cyber Liability Insurance

Any business with an online component or one that sends or stores electronic data might benefit from cyber insurance, as may any organisation that relies on technology to conduct its operations, which is pretty much every business.

Private personal data such as contact details of customers or staff, intellectual property, or sensitive financial data are all potentially very lucrative to cyber criminals who could could attempt to break into the network and steal it.

There’s also the potential for hackers to cripple a network with ransomware. A cyber insurance policy that covers ransomware could go a long way to helping organisations that fall victim to attacks like this find a way out of the predicament.

As cyber risks evolve, so too must your coverage. Understanding where traditional policies and other property and casualty insurance policies complement, overlap or exclude a cyber exposure is critical. Contact us today to know more!

Coverages Of Cyber Liability Insurance
By Parson Insurance .

Multimedia and media liability cover

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This insurance covers the third-party damages including specific defacement of website and intellectual property rights infringement.

Network security liability

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This may include the third-party damages as a result of the denial of access, costs related to the theft of data on third-party systems etc. A decent cyber insurance policy always ensures that the cyber risks are adequately catered for.

Already Have Cyber Liability Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.

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Get personalized Cyber Liability Insurance