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Technology & Cyber Insurance

Sovereign Secure TechPro

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The Sovereign advantage

You pay attention to the headlines, but what you don’t hear about are all the cyber-attacks managed outside of the news cycle. Between hackers and human error, no industry can guarantee their technology infrastructure is 100% secure. Any business that has a responsibility to care for their corporate, employee, customer or business associates' information is vulnerable to cyber risks.

All companies face these cyber exposures plus additional concerns like satisfying demanding customers and meeting ever changing project requirements. Any technology company that provides a service or product has a responsibility to fulfill their contractual obligations.

A proactive risk management approach is your best defense. Insurance is just one strategy within the broad risk management solutions we offer to protect your bottom line and reputation from unknown and unforeseen risks.

Expert team

We provide risk management education and consulting to help you keep pace with the rapidly changing risks of new technology and data regulations. We participate in think tanks, conferences and research endeavours so we can pass this knowledge on to you.

Risk-based solutions

We’re experienced in assessing and underwriting all kinds of risks from trailblazing startups to established industry leaders. We work with you and your broker to deliver the insurance solutions your business needs – protecting you today and as your business and technology evolve.

Dedicated partner

We’re invested in our partnerships long-term and take these relationships very seriously. We collaborate with your broker, breach coach, legal counsel, technology firm – you name it – to make sure every seat at the table is working together in your best interest.

Sovereign Secure TechPro: Technology E&O and Cyber Insurance

Technology is integral to our society. Information technology professionals face high demands to deliver skilled services and specialized advice. A Technology E&O policy protects companies against potentially catastrophic litigation if a client holds the insured responsible for issues like programming errors, software performance, or the failure of work to perform as contractually promised.

Cyber insurance on the other hand helps protect your business from cyberattacks and accidental data leaks. This includes broad risk mitigation and response products and services to help ensure your business is protected holistically.

Sovereign Secure TechPro provides comprehensive protection for your people and your business. These key coverages offer:

More precise language coverages designed to address the unique, new and emerging risks to your business
Enhanced Policy Forms to offer more comprehensive coverage
Modular products to provide greater flexibility

When it comes to risk protection, Sovereign Secure TechPro offers policyholders more of what they need and less of what they don’t. So not only is their policy comprehensive, but they’re getting great value too.

Download the product brochure to learn more.

Coverages designed to protect your business

We offer a broad range of insurance coverages* to reflect the specific risks faced by your business. Explore some of our key Technology and Cyber coverages below.

Professional Services Liability (E&O) (available for Technology clients only)
Coverage Snapshot

While you always do your best to uphold the highest quality of work, the truth is that nobody’s perfect – mistakes can happen. If a client is unhappy with your technology product or services they may file a suit against you, holding you responsible for their financial loss. Professional Services Liability coverage protects your business with coverage defense, settlements and judgments for lawsuits by clients for actual or alleged errors or omissions.
Media Liability
Coverage Snapshot

Your web and social media presence empower you to connect with your clients and engage them with your brand. But you also need to be careful because a post can be virtually impossible to retract or delete. Once it’s published, it’s public! We can protect you from lawsuits brought against your websites and social media content for claims of defamation, libel, product disparagement and infringement of intellectual property.
Cyber Event Liability
Coverage Snapshot

Cybercriminals are savvy. There are countless ways your business can be subjected to a cyber-attack, like phishing, business email compromise, clickjacking, malware – the list goes on! Cyber Event Liability provides coverage for third party lawsuits relating to a cyber event, such as a data breach of cyber-attack.
Privacy Regulation Defense and Penalties
Coverage snapshot

Privacy frameworks are quickly evolving as data collection becomes increasingly important to every business. If your business is affected by a privacy breach, you must report it to various regulatory bodies. They may require an in-depth investigation and could even decide to issue fines or penalties as a result. Privacy Regulations Defense and Penalties provides defense coverage for breach of privacy law and the disclosure of protected and personal information. It also covers defense for regulatory proceedings and fines and penalties where insurable by law.
Privacy Breach Expense
Coverage snapshot

When you experience a privacy breach, you need to protect the individuals who are affected. But as you take the steps necessary to address the breach, you still have other clients to manage and project deadlines to complete. Company resources are stretched to the maximum making it difficult to respond quickly and effectively. This insurance coverage assists you in getting access to experts who can help manage next steps and mitigate any complications after a privacy incident.
Business Interruption Loss
Coverage snapshot

Whether your business is entirely cloud based or you’ve integrated automation into your bricks and mortar facility, you’re vulnerable to business interruption risks. Because at the end of the day, if the network goes down the business comes to a halt. If this happens, we can help cover your actual loss and extra expenses incurred in the event of a network outage cause by a system disruption that would not be covered by your Property Business Interruption policy.
Digital Asset Loss
Coverage snapshot

We’ve all experienced the frustration and inconvenience of losing an important digital document we’re working on. Now imagine that loss on a company-wide scale. Digital Asset Loss provides coverage to help restore or recollect your digital assets.
Cyber Extortion Threat
Coverage snapshot

Attackers aren’t only behind the scenes, sneaking into your private data and quietly disrupting your businesses. Ransomware is a different game. It can affect active operational data and data backups if your security settings aren’t properly reviewed and tested – so once your files are hijacked, it may prove difficult to use a software restore to get them back. With Cyber Extortion Threat you’ll have coverage for restore costs, negotiation and ransom expenses associated with cyber threats.

KEY COVERAGES

Professional Services Liability (E&O) (available for Technology clients only)
Media Liability
Cyber Event Liability
Privacy Regulation Defense and Penalties
Privacy Breach Expense
Business Interruption Loss
Digital Asset Loss
Cyber Extortion Threat

Professional Services Liability (E&O) (available for Technology clients only)

Coverage Snapshot

While you always do your best to uphold the highest quality of work, the truth is that nobody’s perfect – mistakes can happen. If a client is unhappy with your technology product or services they may file a suit against you, holding you responsible for their financial loss. Professional Services Liability coverage protects your business with coverage defense, settlements and judgments for lawsuits by clients for actual or alleged errors or omissions.

Media Liability

Coverage Snapshot

Your web and social media presence empower you to connect with your clients and engage them with your brand. But you also need to be careful because a post can be virtually impossible to retract or delete. Once it’s published, it’s public! We can protect you from lawsuits brought against your websites and social media content for claims of defamation, libel, product disparagement and infringement of intellectual property.

Cyber Event Liability

Coverage Snapshot

Cybercriminals are savvy. There are countless ways your business can be subjected to a cyber-attack, like phishing, business email compromise, clickjacking, malware – the list goes on! Cyber Event Liability provides coverage for third party lawsuits relating to a cyber event, such as a data breach of cyber-attack.

Privacy Regulation Defense and Penalties

Coverage snapshot

Privacy frameworks are quickly evolving as data collection becomes increasingly important to every business. If your business is affected by a privacy breach, you must report it to various regulatory bodies. They may require an in-depth investigation and could even decide to issue fines or penalties as a result. Privacy Regulations Defense and Penalties provides defense coverage for breach of privacy law and the disclosure of protected and personal information. It also covers defense for regulatory proceedings and fines and penalties where insurable by law.

Privacy Breach Expense

Coverage snapshot

When you experience a privacy breach, you need to protect the individuals who are affected. But as you take the steps necessary to address the breach, you still have other clients to manage and project deadlines to complete. Company resources are stretched to the maximum making it difficult to respond quickly and effectively. This insurance coverage assists you in getting access to experts who can help manage next steps and mitigate any complications after a privacy incident.

Business Interruption Loss

Coverage snapshot

Whether your business is entirely cloud based or you’ve integrated automation into your bricks and mortar facility, you’re vulnerable to business interruption risks. Because at the end of the day, if the network goes down the business comes to a halt. If this happens, we can help cover your actual loss and extra expenses incurred in the event of a network outage cause by a system disruption that would not be covered by your Property Business Interruption policy.

Digital Asset Loss

Coverage snapshot

We’ve all experienced the frustration and inconvenience of losing an important digital document we’re working on. Now imagine that loss on a company-wide scale. Digital Asset Loss provides coverage to help restore or recollect your digital assets.

Cyber Extortion Threat

Coverage snapshot

Attackers aren’t only behind the scenes, sneaking into your private data and quietly disrupting your businesses. Ransomware is a different game. It can affect active operational data and data backups if your security settings aren’t properly reviewed and tested – so once your files are hijacked, it may prove difficult to use a software restore to get them back. With Cyber Extortion Threat you’ll have coverage for restore costs, negotiation and ransom expenses associated with cyber threats.

Stack your team with experts.

In addition to the financial protection provided by your technology or cyber policy, as a Sovereign client, you get access to breach preparation and crisis management services provided by our trusted partner, CyberScout^®, to help you navigate the complexities and nuances of data security – often without the expense of hiring in-house expertise.

This includes personalized access to a breach preparedness site, which provides tools and teachings to help you protect your sensitive data and respond if you’re faced with a data breach. Click here to access the site.

If you suffer a breach, CyberScout experts can help you quickly develop a clear breach response strategy and incident management plan. Services include counseling, crisis management, notification assistance, breach victim remediation planning, media relations consulting and regulatory communication. CyberScout will also provide guidance on your legal obligation to report incidents to the relevant privacy commissioner, notify impacted individuals, and keep relevant records.