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Business cyber crime insurance protects your company from financial losses resulting from cyber attacks, data breaches, and other cyber security incidents. It acts as a financial safety net, covering expenses like: Data breach investigation and notification Credit monitoring and identity theft protection for affected individuals Regulatory fines and penalties Business interruption costs due to downtime Legal fees and defence costs Ransomware payments (in some cases)
Business Cyber Crime Insurance in St. Thomas
Small-medium enterprise are the largest targets of cyber attacks. 47% of Canadian small business allocate no resources to cyber security. A well-crafted cyber crime policy is just a part of any over strategy we can help you implement.
Business Cyber Crime Insurance
85.7% of Canadian companies experienced at least 1 cyber attack in 2021.
61.2% of Canadian businesses reported a ransomware attack in 2021.
The average cost of a ransomware attack in Canada is $1,920,000—including the ransom demand, downtime, specialists services, loss of business and reputation and equipment repair/replacement.
Now, we have your attention, let us provide you with the solutions. We know that many root causes of cyber crime can be addressed without buying insurance. It can be addressed by updating hardware and software, properly training staff, and implementing a sound regular IT maintenance program. Once we have you sorted with this then we look at the insurance to fill any remaining gaps and to backstop the inevitable.
Our development team has a number of tools that you can implement.
It all begins with our Cyber Risk Exposure Scorecard assessment.
A well crafted cyber crime insurance policy includes:
- Breach investigation cover
- Consumer notification
- Credit monitoring
- Regulatory reporting
- Contractual liability
- Other Key Coverage considerations
Cyber Crime Insurance however is only a piece of the puzzle.
Our team has developed a collection of propriety tools and training guides that our clients can use to:
- Assess your likelihood of a cyber attack
- Identify your weaknesses and pain points
- How to alleviate loss due to cyber crime
- Train your employees how to prevent cyber attacks and how to effectively respond should one happen
- How to best protect the personal and financial information of your employees and customers
- Tips for effective cyber hygiene
Standard Coverage
Data breach liability
Legal expense
Network and information liability
Hardware/software replacement/repair
Ransomware/extortion
Enhanced Coverage
Crisis Management
Reputational Repair
Business Interruption/Income replacement
Digital Asset restoration
Funds Transfer Fraud and social engineering
Service fraud—Crypto jacking
Phishing
Bodily Injury/Property Damage 1st and/or 3rd party
Network & information security liability
Regulatory defence and Penalties
Pollution
Funds Transfer liability
PCI fines & assessments
Multimedia Liability
Cyber crime insurance is a specialty coverage. Not all insurers that offer it are the same as other insurers. You must read the fine print, or willing to rely on a Broker/Advisor that understands the differences, nuances and the true exposures of your business. Cyber insurance cannot wisely be purchased based on price. Coverage varies greatly and can be the difference between your business surviving a cyber attack or closing as a result of it.
We understand it. Partner with us we can provide flexible and affordable solutions.
Why Partner with Reith & Associates for Cyber Crime Insurance in St. Thomas
Industry Experience
We have 100+ years of industry experience in protecting your business interests. You can trust us with your business insurance needs.
Registered Brokers
Qualified, Professional & Works with Registered Insurance Brokers of Ontario (RIBO). Get fair, independent & impartial advice every single time.
Award-Winning
We’re the most award winning insurance broker in St. Thomas & London region. & We refuse to stop working towards excellence and earning industry appreciation.
Time-effective
Quick, Easy & Convenient. We plan and execute every project with meticulous attention to details and the urgency of the situation.
24/7 Help
Reach out to us anytime, anywhere via our web based portal and mobile app. Available to answer your questions 24*7.
Save Money
Bundle up business insurance policies & save big. We’ll do a review & get your maximum savings without altering the coverage.
Safe & Secure
Your business information is protected from unauthorized access, data theft or any unethical activity. Trust us with your auto insurance needs.
Customer Reviews
We value our clients and so do they. Check our customer reviews that are a testament of dedicated & our professional services.
Every Question Is Answered—Ask 24*7 Support
If your question is not listed here, we are happy to answer over a phone call. Give us a call at (519) 631-3862, Monday–Friday, 8:30 am – 4:30 pm or by appointment after the office hours time.
FREQUENTLY ASKED QUESTIONS
1. What is business cyber insurance and why do we need it?
2. What are the risks of cyber crime for my business?
Every business, regardless of size or industry, is at risk of cyber crime. They may face Ransomware attacks: Hackers encrypt your data and demand a ransom payment to decrypt it. Data breaches: Sensitive customer or employee information is stolen or exposed. Phishing attacks: Emails or websites trick employees into revealing confidential information. Malware: Malicious software infects your systems, causing damage or disruption. Denial-of-service attacks: Hackers overwhelm your systems with traffic, making them unavailable to legitimate users.
3. How much does cyber insurance cost?
The cost of cyber crime insurance in St. Thomas depends on The size and industry of your business Your cyber security risk profile The level of coverage you choose Your deductible At Reith & Associates, we offer a free Cyber Risk Exposure Scorecard assessment to help you understand your risk and get a personalized quote.
4. What are the different types of coverage available?
We offer a variety of cyber crime insurance policies, like: Data breach liability: Covers the costs associated with a data breach, such as investigation, notification, and credit monitoring. Network security liability: Covers the costs associated with a network security incident, such as malware attacks and denial-of-service attacks. Cyber extortion: Covers the costs associated with ransomware attacks, including ransom payments (in some cases). Business interruption: Covers lost income and other expenses akibat of a cyber attack that disrupts your business operations. Regulatory fines and penalties: Covers the costs of fines and penalties imposed by regulatory bodies for data breaches or other cyber security violations.
5. Does your insurance cover ransomware attacks?
Yes, some of our cyber crime insurance policies cover ransomware attacks, including the cost of ransom payments (up to a certain limit). However, it's important to carefully review the policy wording to understand the specific terms and conditions of coverage.
6. Do you have a variety of styles for children's clothes in this collection?
Yes, our collection encompasses a variety of styles for children's clothes, ensuring there's something to suit every taste and occasion.
7. Are the materials used for kids' clothing comfortable and safe?
Absolutely! We prioritize comfort and safety. Our kids' clothing is crafted from soft and child-friendly materials to ensure a cozy and safe experience.
8. Can I find matching sets or outfits for kids in your clothing store?
Yes, we offer matching sets and outfits for kids, making it easy to create coordinated looks for your little ones.
9. Are there promotions or discounts available for kids' clothing online?
Yes, we frequently offer promotions and discounts on our kids' clothing. Stay updated by checking our website or subscribing to our newsletter for the latest deals.
10. How can I return kids' clothes if they don't meet my expectations?
We have a hassle-free return policy. If the kids' clothes don't meet your expectations, you can return or exchange them within our specified return window.
11. How is your clothing ethically made?
We ethically source materials and manufacture locally in Canada, ensuring fair wages and safe conditions through regular audits. Our transparent approach and efficient resource management allow us to offer quality, ethically made clothing at fair prices, supporting both our community and the environment.
12. What materials are used in your clothing?
Our clothing features a proprietary blend of 66% Rayon from Bamboo, 28% Cotton, and 6% Spandex, ensuring a comfortable fit. All materials are OEKO-TEX certified, guaranteeing they're free from harmful substances.
Since 1914, Reith & Associates has served St. Thomas and the surrounding communities as a marketplace where trusted advisors craft affordable solutions that protect the people and property that matter most to you. Passionate and dedicated to our family tradition of providing an exceptional client experience.
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