Cyber insurance for business
Westland MyGroup is pleased to offer our Cyber Select insurance coverage for businesses with less than $2,000,000 in annual revenues.
Highlights of coverage
$100,000 Aggregate Limit:
Coverage for costs associated with responding to a cyber incident, such as hiring a forensic investigator, conducting a breach investigation, notifying affected individuals, providing credit monitoring services, and managing public relations related to the incident.
Legal fees, settlements, and damages related to cyber-related lawsuits.
Financial assistance for the costs associated with investigating and remedying a cyber incident including costs related to conducting digital forensics, hiring cybersecurity experts, implementing security patches or upgrades, and testing or auditing systems for vulnerabilities.
Coverage for costs associated with repairing or replacing damaged systems or hardware resulting from a cyber incident including expenses for system restoration, data recovery, purchasing new IT infrastructure, or repairing physical damages.
$50,000 Cyber Crime Sublimit:
Protect against losses resulting from social engineering scams, where an employee is deceived into transferring funds or disclosing confidential information to fraudsters. It covers financial losses incurred due to fraudulent transactions, as well as legal and forensic costs associated with investigating the incident.
Phishing refers to the practice of tricking individuals into providing sensitive information, such as usernames, passwords, or financial details, by impersonating a trustworthy entity. This coverage protects against financial losses or damages caused by phishing attacks.
Protect against losses resulting from fraudulent or unauthorized funds transfers initiated through electronic means. It covers financial losses incurred due to unauthorized transfers, as well as legal and forensic costs associated with investigating the incident and recovering the funds.
Cost: $400 plus applicable taxes
Excluded Industries: Technology, Cannabis, Real Estate, Law Firms, Financial Institutions, Financial Planners.
How to apply
Applications can take up to 2 business days to be processed. You will receive your proof of insurance once it has been completed.