ENCON Group Inc. Announces Expanded Cyber Liability Coverage and New Cyber Hotline
May 4, 2015 by Encon Group Inc.
OTTAWA, ON – May 4, 2015 – ENCON Group Inc., a leading managing general agent in Canada, announced today the introduction of expanded cyber liability coverage under its Errors and Omissions (E&O) Information Technology program. In addition, a new cyber hotline service, the “cyber breach coach,” has been established to assist clients in the event of a breach and first party loss under the policy.
“The threat of a security breach, data loss and loss of reputation are very real concerns for companies and organizations in Canada,” said Kevin Auger, Vice President, Special Risk – Technology, ENCON. “While many insurers offer insurance solutions to address these risk exposures, what’s equally important is how to protect a business and its clients after a breach has occurred. That’s where the cyber breach coach can be an excellent resource.”
Effective May 4, 2015, ENCON’s E&O Information Technology and Multimedia Insurance policies will include first party cyber loss coverage relating to:
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- Data asset loss – costs to restore or recollect data that has been altered, corrupted, destroyed, disrupted, deleted or damaged due to a network and security breach.
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- Network business interruption loss – costs relating to lost income or extra expenses resulting from downtime due to a network and security breach.
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- Remediation and notification expenses – enhanced to include, among others, computer security expert costs, fees charged by an attorney to determine the applicability of and actions necessary to comply with breach notice law, cyber breach coach fees, expenses for notification and communication to mitigate a potential loss due to a network and security breach or privacy breach.
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- Crisis management expenses – public relations costs to mitigate a potential loss due to a network and security breach or privacy breach.
“The impact on a business when a cyber breach occurs can be devastating, from lost data and lost sales to allegations of wrongdoing and reputational damage,” explained Auger. “We’ve developed our technology program as an ‘all-in-one’ solution, to help protect companies against claims resulting from a broad range of first and third party cyber risks.”
The Cyber Breach Coach
The cyber breach coach—included with all ENCON Information Technology and Multimedia insurance policies—will be a legal firm, designated by ENCON, to provide consultative services to insureds and to ensure continued privilege of confidential information in the case of a cyber breach.
For more information about this coverage, please visit ENCON’s Information Technology page at www.encon.ca.
About ENCON Group Inc.
As a leading managing general agent in Canada, ENCON Group Inc. offers professional liability, commercial general liability, construction and environmental insurance, as well as group and retiree benefits programs for individuals, professionals, organizations and businesses, which are available through a national network of licensed insurance brokers and plan advisors. Learn more at: www.encon.ca.
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