Why do I need data breach coverage?
Data is the new business exposure.
Did you know?
What is a data breach?
It occurs when personal information is:
- Stolen, or
- Accidently made public
Data breaches can occur through:
- Employee or contractor negligence
- Lost & stolen devices such as laptops, smartphones, USBs, archives and backups
- Procedural mistakes
- Lost or stolen paper records
- Malicious or criminal insiders
- Malware and hacking
What are the consequences of a data breach?
Your response to a data breach is key to preserving your business reputation.
For this reason, we offer Data Compromise coverage for:
- Forensic help to determine the extent of the breach, whom it affected and how to notify them
- Legal review for notifying those affected by the breach, including customers, employees, owners, directors and members
- Preparation, production and mailing of notification letters
- Fraud alert for persons affected by identity theft
- Identity restoration case management for identity theft victims
What if you, the business owner, are the victim of identity theft?
- Your identity could be falsely used to secure fraudulent loans or commit crime,
- Your credit-worthiness could suffer
- How would you go about clearing your name?
- Do you have the time and resources it takes to recover your identity?
- Can you afford added legal fees, or loan re-application expenses?
That’s why we provide Identity Recovery coverage for:
- Legal fees, including civil and criminal defense
- Lost wages and child or elder care expenses due to time away from work
- Access to identity restoration case managers – investigators who help you through the process and can assume much of the work
- Credit bureau reports
- Fees for reapplying for loans declined due to falsified credit information
- Postage, phone, shipping, notary, filing fees and other out-of-pocket costs
Protect your business
As technology and risk become more sophisticated, you can rely on The Boiler Inspection and Insurance Company of Canada to provide industry-leading products and services for equipment exposures.
For more information, contact your broker.