Cyber Liability

One system hack can shut down a business. One policy can protect it. Introducing Travelers Canada CyberRisk™.

One stolen laptop or one resourceful hacker can cause a data breach with enormous consequences, both financial and reputational. In 2016, according to the Ponemon Institute, the average cost of a data breach was $6.03 million. There were over 240 breaches voluntarily reported to the privacy commissioner in Canada, according to their 2016-2017 Annual Report.

One coverage solution for all your cyber exposures

You need contemporary coverage that can take on the full range of risks to your data and systems. Travelers Canada CyberRisk™ has the essential features you need for today’s and tomorrow’s technology exposures.

One-stop shopping

Travelers Canada CyberRisk™ boasts 10 insuring agreements, which together deliver a truly comprehensive coverage solution.

Flexible and scalable

Coverage can be customized to reflect your needs. And smaller businesses can enjoy the same type of coverage available to larger businesses.

We know cyber

We have been writing technology-related coverages for over 25 years. We are also a leading writer of related specialty crime coverages. We know what it takes to craft the right program to cover cyber exposures.

Key coverages and features of Travelers Canada CyberRisk™

  • Third party (liability) and first party coverage – Protecting the insured for its liability to others and reimbursing the insured for expenses incurred
  • Worldwide coverage – Applies to claims made or events occurring anywhere in the world
  • Ten distinct insuring agreements – With the ability to set limits and retentions for each insuring agreement
  • Defence option – Option to select duty to defend or reimbursement coverage at policy inception
  • Maximum retention cap – For claims covered under more than one liability insuring agreement or events covered under more than one first-party insuring agreement, the largest applicable retention will be the maximum retention to apply
  • Non-cancellable by insurer – Except for non-payment of premium
  • Extended reporting period – Applies to crisis event management and security breach expense coverage
  • Automatic 90-day extended reporting period – For first-party coverages
  • First-party coverage for computer program and electronic data restoration expenses
  • First-party coverage for computer fraud and funds transfer fraud – Protection for fraudulent transfer of money or securities, or, with respect to computer fraud, other property
  • E-commerce extortion coverage – Applies to expenses and lost revenue due to a computer virus or denial of service attack that impairs your computer system, including operating expenses that must continue during the interruption period
  • Business interruption coverage – Extends to denial of service attacks
  • Coverage for security breach remediation and notification expenses extends to:
    • Purchase of an identity fraud insurance policy
    • Credit monitoring for up to 24 months or longer where required by law
    • Computer forensics and legal expenses
  • Defence expense regulatory claim coverage – Not limited to specific governmental agencies and includes claims by any provincial privacy commissioner
  • Communications and media coverage – Applies to content in any electronic format including websites, electronic mail and social media
  • Coverage extends to claims seeking – Non-monetary relief and arbitration, mediation or similar alternative dispute resolution proceedings
  • Coverage for punitive or exemplary damages - If insurable under the law of jurisdiction that (i) is most favourable to the insurability of such damages and (ii) has a substantial relationship to the Insured, Claim, Insurer, or the CyberRisk Coverage Section
  • Network and information security coverage extends to:
    • Failure to protect, destroy or prevent unauthorized access to electronic or non-electronic data and is not limited to e-commerce, website or other specified activities
    • Identity information, including medical or health care information
    • Any private, personal information that is protected under any local, provincial, federal or foreign law
    • Failure to provide notification required by any security breach notification law
    • Claims made by employees
    • Failure to comply with the Insured Organization’s privacy policy
    • Emotional distress, mental anguish, humiliation and loss of reputation 
  • Network and information security coverage is not subject to exclusions for:
    • Mechanical failure
    • Failure to maintain a computer network or system
    • Failure to maintain risk controls
    • Lack of performance of software
    • Spyware, cookies or other invasive devices or methods used to collect private information
    • Lack of encryption
  • Coverage for cyber terrorism

To learn more about Travelers Canada CyberRisk™, contact your insurance broker or find a Travelers Canada broker near you.

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