Protect your business from data breaches, cyberattacks, and privacy claims with dedicated digital risk coverage. Cybercrime is one of the fastest-growing threats facing Ontario businesses. From stolen customer data to ransomware attacks, the fallout can be devastating—legal fees, regulatory fines, reputational damage, and lost revenue. Cyber liability insurance provides critical financial protection when digital risks become real-world costs. Regal Insurance helps businesses of all sizes compare policies and secure affordable coverage against today’s most urgent threats.
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Many Ontario businesses think cybercrime only happens to “big companies.” The reality: small and mid-sized businesses are among the most common targets, because attackers know they have fewer resources to defend themselves. A single breach can expose sensitive customer data, disrupt operations, and trigger costly legal battles.
Regal Insurance makes cyber liability protection straightforward:
Whether you run a retail store, healthcare clinic, professional practice, or online business, cyber liability insurance helps you safeguard the trust you’ve built with your clients.
Reach out today for your free cyber liability insurance quote.
From protecting your physical space to securing your operations, Regal Insurance offers tailored business insurance solutions across industries. Explore our most popular commercial insurance products below to build a coverage plan that fits your unique business.
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Covers legal costs and damages if your product or service causes harm, loss, or injury.
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Commercial insurance doesn’t need to be confusing. At Regal Insurance, we simplify the process by comparing quotes from top Canadian providers to find the right protection for your business property, assets, and operations.
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“Cyber liability insurance provides financial protection when your business suffers a cyberattack, data breach, or other digital loss. These risks can come from outside attackers—like hackers deploying ransomware—or from internal vulnerabilities, such as employee error, stolen laptops, or even malicious insiders. The fallout can include regulatory investigations, class-action lawsuits, ransom demands, lost income, and reputational damage that takes years to repair.
Without cyber liability coverage, Ontario businesses often face six-figure expenses that can wipe out working capital or force closure. With coverage, you gain a safety net that helps your business respond quickly, limit damage, and recover with confidence.”
When sensitive data is compromised, fast response is critical. This coverage pays for forensic investigations to identify how the breach occurred, notification costs to alert affected customers or regulators, and credit monitoring services to protect individuals whose data was exposed. It also includes crisis communication and PR support to rebuild trust and protect your brand from long-term reputational harm.
If cybercriminals lock down your systems or steal sensitive files, they may demand a ransom in exchange for restoration. This coverage helps with negotiation costs, ransom payments (where legally permitted), and system recovery. It also covers expenses related to restoring corrupted data, rebuilding servers, and getting your operations back online as quickly as possible.
Sometimes a cyberattack on your system doesn’t just harm you—it spreads outward and impacts your clients, vendors, or partners. If your network is hijacked to spread malware, spam, or denial-of-service attacks, this coverage handles third-party claims, legal defense, and settlement costs for the damage caused.
Privacy laws in Ontario, such as PIPEDA (Personal Information Protection and Electronic Documents Act) and PHIPA (Personal Health Information Protection Act), require businesses to protect personal and health data. If your business fails to meet these requirements, you may face investigations, fines, or penalties. Cyber liability coverage helps cover these expenses, including the legal costs of navigating compliance inquiries.
A serious cyberattack can force your business offline for days or weeks. This coverage compensates you for lost income and ongoing operating expenses (like payroll, rent, and utilities) while your systems are being restored. It ensures your business can survive downtime without draining reserves.
One of the fastest-growing threats is phishing and fraud targeting employees. Hackers trick staff into transferring funds or revealing credentials through convincing emails or calls. Social engineering coverage protects against these types of scams, reimbursing you for fraudulent transfers or losses caused by employee manipulation.
A cyber event doesn’t just create financial damage—it can destroy trust. This coverage pays for professional PR services, media campaigns, and communication strategies designed to reassure customers, restore credibility, and mitigate long-term reputational harm after a publicized breach.
Many client and vendor contracts include strict data protection requirements. If you fail to uphold these obligations and a cyber event disrupts their business, you could face lawsuits for breach of contract. This coverage pays for defense costs, damages, and settlements arising from contractual liability linked to a cyber incident.
We partner with Canada’s top auto insurance providers so you can compare quotes side by side, choose the best coverage for your needs, and lock in a competitive rate, without the hassle.
Cyber liability coverage is essential in today’s digital-first world, but premiums don’t have to overwhelm your budget. Regal brokers help Ontario businesses lower costs through careful policy design and risk management strategies:
By combining cyber liability with general liability, professional liability, or commercial property coverage, you can unlock multi-policy discounts. Bundling also simplifies your insurance program, giving you a single brokered solution instead of juggling multiple providers.
Insurers evaluate your risk based on your security posture. Businesses with firewalls, encryption, multi-factor authentication, employee training programs, and incident response plans typically receive better rates. Demonstrating proactive security measures not only protects you but makes you more attractive to insurers.
Cyber policies are highly customizable. Overinsuring can mean paying for unnecessary limits, while underinsuring leaves you exposed to devastating costs. Our brokers assess your industry, data volume, and compliance obligations to right-size your policy—ensuring you’re covered where it matters most without overspending.
Just like with auto or property insurance, your claims history impacts your premium. By investing in prevention, training, and security tools, you reduce the likelihood of incidents and keep your record clean. Over time, this leads to lower premiums and stronger negotiating power with insurers.
Your operations, assets, and risk profile change over time. Reviewing your policy annually ensures you’re not overpaying for outdated or excessive coverage.
Want more insights on how to reduce insurance costs for your business? Visit our Help Centre to explore practical guides on policy optimization, risk management, and commercial insurance best practices.
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Cyber liability insurance protects your business from the financial fallout of cyberattacks, data breaches, and digital threats. This includes coverage for:
It’s important to note that standard business insurance policies rarely cover cyber risks. Without cyber liability coverage, you may be left to shoulder six-figure costs alone.
No. There’s no legal requirement for Ontario businesses to carry cyber liability insurance. However, certain industries — such as healthcare, financial services, and e-commerce — may face contractual obligations from partners, clients, or regulators to demonstrate adequate cyber protection. Even if not mandatory, it’s increasingly viewed as essential risk management in today’s digital-first economy.
Any business that collects, stores, or transmits sensitive information should consider cyber liability insurance. This includes:
Cyber risk is no longer limited to large corporations — small businesses are increasingly targeted because they often lack robust defenses.
Premiums vary depending on business size, industry, data sensitivity, and cybersecurity posture. Small businesses may pay a few hundred dollars per year, while larger companies in high-risk sectors could pay thousands. Insurers also assess your IT security measures when determining rates.
Several factors influence pricing, including:
Yes. Businesses can lower premiums by improving cybersecurity and managing risk proactively:
A broker can help balance the right mix of cost and protection.
General liability (CGL) covers bodily injury, property damage, and personal injury claims — but it does not cover digital or data-related risks. Cyber liability insurance specifically covers losses caused by data breaches, network failures, or cyberattacks. Both types of coverage are complementary and often necessary together.
Yes. Cyber liability policies typically include cyber extortion coverage, which pays for negotiations, ransom payments (where permitted by law), and system restoration costs following a ransomware attack. Without this endorsement, ransom demands and recovery costs may not be covered.
Many policies can extend to third-party IT providers or cloud vendors if their systems are compromised and impact your business. However, the scope varies — in some cases, you may need additional endorsements. It’s important to review vendor agreements and policy terms to close any gaps.
Coverage needs depend on the type and volume of data you manage. Many Ontario businesses start with $1–5 million in coverage, but highly regulated industries often require higher limits. A broker can help assess your cyber risk exposure and recommend appropriate protection.
Yes. Cyber insurance is often bundled with commercial property, general liability, or professional liability coverage. Bundling simplifies management, reduces cost, and ensures protection across both physical and digital risks.
Absolutely. Regal Insurance offers personalized service through our brokers, available via phone, email, or in-person consultations
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