Burns & Wilcox Canada Offers Cyber Liability Coverage

Offers protection from the growing threat of cyber crimes

Toronto, ON [August 30, 2013] – Despite the efforts by businesses to protect themselves, the frequency and gravity of data theft is increasing. To help protect companies from this type of risk, Burns & Wilcox Canada has introduced a comprehensive Cyber Liability Coverage product offering. 

“Many companies think this type of theft will never happen to them, which is a very dangerous mindset,” said Gary Hirst, National Director, Burns & Wilcox Canada. “There have been recent examples of critical breeches at government and corporate institutions. Organizations require protection from these growing risks.”

Burns & Wilcox Canada provides coverage for risks up to $100 million in annual revenue. The product covers breach of contract claims, including those under a payment card processing or service provider agreement and also regulatory actions, including investigations by the FSCO or the Provincial Attorney General. Where allowed, civil penalties can also be covered, along with compensatory awards such as consumer redress funds.

Additional coverage modules may include multimedia liability, hacker damage, cyber business interruption or cyber extortion.

Coverage details include  retentions scaled based on revenues ranging from $5,000 to $25,000, full limit breach notification costs with an option for Breach Costs Outside the Limit, full limit for computer forensics and a Duty to Defend policy,

When clients work with Burns & Wilcox Canada, they have the confidence in knowing they have the security of an A.M. Best “A” rated carrier.

For more information on Burns & Wilcox Canada’s Cyber Liability Coverage, please contact:

Paul Clarke

Sr. Underwriting Manager

Tel: 416-774-2684

Email: pclarke@burns-wilcox.ca

 

 About Burns & Wilcox Canada

Burns & Wilcox Canada is a leading wholesale broker and underwriting manager for the retail brokerage community. Burns & Wilcox Canada leverages both Canadian domestic insurers as well as international carriers, including Lloyd’s underwriters. With access to a broad range of specialty products including commercial lines, professional liability and personal insurance, the company offers unrivaled service and access to an international network, giving brokers a competitive edge for facilitating trans-border business for Canadian clients. With offices in Toronto, Ottawa, Calgary and St. John’s, Burns & Wilcox Canada is part of the Kaufman Financial Group.

More information can be found at http://www.burnsandwilcox.ca

About Burns & Wilcox and the Kaufman Financial Group

Burns & Wilcox is the industry’s largest privately-held wholesale broker and underwriting manager. Burns & Wilcox has more than 40 offices across the United States, Canada and London and employs more than 1,000 professionals. Founded in 1969 and headquartered in Metro Detroit, Burns & Wilcox is internationally recognized for its insurance brokerage and underwriting expertise in commercial and professional liability, property, marine and personal insurance.