Peace Hills Insurance partners with BI&I to provide cyber insurance coverage
Edmonton, AB – Peace Hills Insurance is pleased to announce their partnership with The Boiler Inspection and Insurance Company of Canada (BI&I), to provide two new cyber risk coverages - CyberOne® and Data Compromise. Both coverages are currently available to commercial clients.
“Our decision to offer CyberOne® and Data Compromise coverage comes from a desire to listen to what our brokers were asking for, as well as the need to protect our commercial insureds in the face of growing cyber risk,” said Chad Shurnaik, Vice President of Underwriting & Marketing. “We are pleased to be able to partner with BI&I in providing much-needed coverage in today’s technology-driven society.”
CyberOne® first party coverage helps pay for the costs associated with restoring the insured’s computers and recovering data from a computer attack. It also has third party coverage available to cover costs to respond to a network security liability suit as a result of a negligent failure of the insured’s system security.
Data Compromise first party coverage helps commercial insureds respond to the financial burden and service expectations of a data breach. Businesses need to notify all parties affected by a breach and coverage pays for the expenses to notify affected individuals, provide fraud alert assistance and identity restoration case management to those clients, employees and others affected by the breach. Third party coverage is also available in the event the insured receives a third party suit or claim arising from the first party breach.
For more information about these coverages, click here.
About Peace Hills Insurance
Peace Hills Insurance is a licensed, general insurance company, which has been insuring Western Canadians since 1982. Committed to exceptional claims service, PHI is dedicated to providing courteous and efficient service. Peace Hills employs over 200 staff who serve over 478 broker offices across British Columbia, Alberta, Saskatchewan, Manitoba, the Northwest Territories, Nunavut and Yukon Territory.
About The Boiler Inspection and Insurance Company of Canada (BI&I)
The Boiler Inspection and Insurance Company of Canada (BI&I), a member of the HSB Group and part of Munich Re Risk Solutions, provides Canada’s leading range of equipment breakdown insurance and other specialty coverages for business and home. The organization holds A.M. Best Company’s highest financial rating, A++ (Superior).