1001 Adelaide St N, Unit 202, London, ON N5Y 2M6
1-226-667-33539:30AM - 5:00PM ET Weekdays
Oracle RMS Insurance

Cyber Liability Insurance

Commercial Insurance — Oracle RMS Insurance

Cyber Liability Insurance

Protect your business from data breaches, ransomware, and the financial fallout of a cyberattack.

Request a Free Review226-667-3353

Cyber liability insurance covers the costs your business faces when a cyberattack, data breach, or privacy incident occurs. This includes forensic investigation, breach notification, credit monitoring for affected individuals, regulatory fines, legal defence, and business income lost during system downtime. As cyber threats grow in frequency and sophistication, cyber insurance has become a critical component of any commercial insurance program — regardless of business size.

Who needs this coverage?

Any business that stores customer data, processes payments, relies on computer systems, or operates online needs cyber liability coverage. This includes technology companies, healthcare providers, retailers, professional services firms, financial services businesses, and manufacturers with connected systems.

Key coverages

  • Data breach response and notification costs
  • Forensic investigation expenses
  • Credit monitoring for affected individuals
  • Cyber extortion and ransomware payments
  • Business interruption from system downtime
  • Data restoration and recovery costs
  • Third-party liability for privacy breaches
  • Regulatory fines and penalties
  • Media liability (online content)
  • Social engineering and funds transfer fraud

Frequently Asked Questions

What does cyber liability insurance cover?
Cyber liability insurance covers first-party costs (your own losses) such as breach response, forensics, ransomware payments, and business interruption, as well as third-party liability for claims made against you by customers or partners whose data was compromised.
Does my general liability policy cover cyber incidents?
Standard CGL policies were not designed for cyber risks and typically exclude or provide very limited coverage for data breaches and cyberattacks. A standalone cyber liability policy is needed to properly address these exposures.
Is cyber insurance required in Canada?
Cyber insurance is not legally mandated in Canada, but it is increasingly required by clients, government contracts, and supply chain partners. PIPEDA and provincial privacy laws impose breach notification obligations that cyber policies are designed to support.
How much cyber coverage does my business need?
Coverage needs depend on the volume and sensitivity of data you hold, your revenue, and your reliance on technology. Small businesses often start at $1 million in coverage; larger organizations or those handling sensitive data may need $5 million or more.
What is social engineering coverage?
Social engineering coverage protects against losses from fraudulent instructions — for example, an employee being tricked into wiring funds to a fraudster posing as a vendor or executive. This is a common and costly cyber exposure that is often added as an endorsement.

Ready to review your coverage?

Speak with a licensed broker at Oracle RMS — by phone, video, or in person. We serve businesses across Canada.*

Get a Free QuoteCall 226-667-3353

* Commercial insurance services available across Canada, excluding Quebec.