Cyber Insurance

You’ve been hearing about the threat of cyber attacks for years. Why consider cyber insurance now? Attacks are happening in Canada with greater frequency and criminals are targeting public entities and other not-for-profit organizations. It’s becoming more and more important to have a plan in place for when a cyber incident occurs. When you partner with Frank Cowan Company, you’ll be receiving best in class cyber insurance coverage backed by a strong insuring partner and hands-on value-added services including dedicated claims handling.

Coverage Highlights

  • Security and Privacy Liability
  • Multimedia and Intellectual Property Liability
  • Technology Services
  • Network Interruption and Recovery
  • Event Support Expenses
  • Privacy and Regulatory Defense and Penalties
  • Network Extortion
  • Electronic Theft, Computer Fraud & Telecommunications Fraud
  • Social Engineering Fraud
  • Reputational Damage
  • The size and scope of you operations impacts the limit you select. Limit options range from $250,000 to $5,000,000.

Cyber Toolkit – It's all right here

We understand that cyber insurance can be complicated. We're here to help. We've built this Cyber Toolkit as a resource to support Specialty and Public Entity organizations.

Cyber Risk Insurance Applications

Cyber Risk Insurance Detailed Application

Reporting a Cyber Claim

The moment you become aware of a cyber incident that may give rise to a claim or potential claim you have access to a 24/7 Incident Hotline. Please carefully review your cyber policy to identify the Subscribing Partner.

If your cyber policy is written with Ascent Underwriting and a circumstance, claim or an event arise which may qualify for indemnity for costs or expenses under the cyber policy, you must report to Ascent/CyberClan Hotline +1 (0) 800 528 6170 or email ascentresponse@cyberclan.com. A policy number may be required when you call or email.

If your cyber policy is written with AXA XL Catlin and a circumstance, claim or an event arise which may qualify for indemnity for costs or expenses under the cyber policy, you must report immediately to Crawford and Company by calling 1-844-660-4903. A policy number may be required when you call.

In the News

Cyber Insurance is the Cornerstone of a Culture of Security – our in-house experts talk about cyber insurance in the Manitoba Insurance Broker (see page 23).

Brokers leaving a lot of SME cyber business on the table: Leger poll

3 more southwestern Ontario cities hit by cyber-attacks

IBC reveals the extent of cyberattacks in Canada

Ransomware continues to handcuff the operations of non-profits and public entities – our in-house experts talked to Insurance Business Canada on the importance of cyber insurance.

City of Stratford faced with ‘ransomware situation’

Town of Midland paid 8 bitcoins to cybercriminals to decrypt servers: staff report

OPP warn of recent cyberattacks targeting local governments

Wasaga Beach pays cyber criminals thousands to regain access to town servers: staff report

Templates from Our Centre of Excellence

A Guidance Document for Insurance Requirements in Various Contracts
Shared Data/Network Agreements and Technology Vendor Contract templates.  

Cyber Security Policy and Procedures
This template will assist with creating plociy and procedures to meet the needs an organization.

Note: These documents are available to Centre of Excellence members only. Click here to register.