Whats in the policy?

Ridge Canada provides comprehensive cyber insurance solutions that protect organizations with coverage in the event of a network security or privacy breach. Our cyber insurance solutions can be tailored to your organization’s needs and include coverage for the following:

Loss of Business Income

Covers loss of income as a result of a breach on the insured’s computer systems. This loss of income can be caused by decreased productivity, inability to deliver products or services, or inability to access data.

Dependent Loss of Business Income

Covers loss of income as a result of a breach or cyber event at any contracted data/computing services provider that the insured is reliant upon.

Privacy Liability

Covers damages and claims expenses associated with lawsuits alleging the unauthorized collection, disclosure, use, access, destruction, or modification of personal protected Information.

Network Security Liability

Covers damages and claims expenses associated with lawsuits alleging the unauthorized access to, degradation of, or disruption to the insured’s network, failure to prevent transmission of malicious code or viruses, and use of the insured’s network to perform a denial of service attack (DDOS).

Notification Costs

Covers costs associated with letting all those affected by the breach (including individuals, entities, and regulators) know that it has occurred, regardless of whether this notification is required by regulators or voluntary. This would include costs such as: mailing campaigns, credit monitoring, and call centres to handle questions.

Data Recovery

Covers cost to restore the network and data to the point it was at before the event occurred.

Forensic Investigative Costs

Covers costs associated with hiring a professional third party to determine where, when, and how the breach occurred; also, to ensure that no future problems occur as a result of that particular system issue.

Crisis Management Costs

Covers costs incurred in hiring a professional public relations team to help prevent reputational harm to your business.

Reputational Harm

Covers loss of income as a result of a cyber event in the media causing termination of your services by one or several of your clients.

Network Extortion

Covers ransom costs when there is a demand for compensation to stop a cyber attacks, such as ransomware.

Social Engineering Fraud

Covers any fraudulent electronic communications or websites designed to impersonate the insured or any of the insured’s products  for the costs of creating a specific press release or establishing a specific website to advise the insured’s customers and prospective customers of the fraudulent communications, reimbursement of the insured’s clients for their financial losses arising directly from the fraudulent communications and the insured’s loss in profits as a direct result of the fraudulent communications.


Covers costs to replace computer & network hardware rendered useless after a cyber related event.

Privacy Regulatory Defence and Penalties

Covers costs associated with being called in front of a civil, administrative, or regulatory proceeding and fines and civil penalties.

Payment Card Industry Fines and Penalties

Covers monetary assessments, fines and penalties as a result of non-compliance with the published Payment Card Industry Data Security Standards (

Media Liability

Covers actual or alleged defamation, invasion of privacy, or infringement of any intellectual property rights arising out of social or multimedia content or user generated content.

Other Benefits

Cyber Insurance is a specific type of insurance designed to help organizations respond to and manage network security and privacy incidents in addition to providing financial relief for the unexpected expenses and liabilities that organizations may incur as a result of an incident. Two of the main benefits (aside from financial indemnification) of cyber insurance are as follows:

Cyber Incident Response Team

Cyber insurance provides your organization with access to a network of experienced breach response and recovery professionals in a time of need. These professionals assist organizations with breach events on a regular basis and can help bring a sense of calm to an experience that often catches many off guard and can be overwhelming. Services which are part of the policy include lawyers, consultants, information technology (IT), public relations, call centres, notification providers, and more. They are available to help guide your team through a cyber crisis from the time an incident first occurs all the way through the data restoration and recovery process.

Balance Sheet Protection

The costs of responding to a cyber incident are often more than most organizations realize and can be financially crippling for some. Cyber insurance provides financial relief by covering many of the (1) first party expenses incurred during the breach response and recovery process and (2) expenses and damages your organization may incur as a result of claims brought by third parties or inquiries made by government and industry regulatory bodies. Cyber Insurance transfers this risk from your business and enables you to continue with your business growth plans.


Coverage Includes:

  • Loss of Business Income

  • Third Party Lawsuits

  • Notification Costs

  • Incident response costs

  • Digital asset replacement

  • Ransomware / Extortion demands

  • Social Engineering Fraud

  • Regulatory fines & penalties

Additional Benefits:

  • Cyber Incident Response

  • Balance Sheet Protection