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Cyber Insurance in Ontario - Why Tech Firms Cannot Afford to Go Without It

Boardwalk Insurance Aug 09, 2024

Cyber losses are business losses

A cyber incident can stop operations, trigger contractual penalties, and damage trust with customers. Coverage is important, but the quality of the response resources attached to the policy often matters more.

What cyber insurance commonly covers

• Breach response support including legal guidance and forensic investigation • Notification costs and credit monitoring where required • System restoration and data recovery support • Business interruption and extra expense from a covered cyber event • Extortion related expenses where policy terms apply • Third party liability claims tied to privacy, security, or network failures

How to choose limits and structure

• Map your highest impact scenario such as ransomware or major customer data exposure • Review contracts for minimum required limits and specific wording • Confirm the policy matches your data types, vendors, and territories • Ensure incident response vendors are accessible and the process is clear

Talk to Boardwalk

If you want a practical cyber review, we can connect coverage to your real systems, customer contracts, and operational downtime risk.

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