Cybercrime targets individuals. Protect yourself today with VIU by HUB and cyber insurance.
What is cyber insurance? Cybercrime insurance helps protect you from monetary losses and provides expert support if you’re targeted.
With VIU by HUB’s personal cyber policy, you’ll have 24/7 access to:
Cyber monitoring with legal support.
We can coordinate law enforcement.
Facilitation of ransomware payment.
You can have access to IT forensic, third-party and data breach specialists.
Reimbursement for financial loss.
We can help you with equipment repair costs.
Personal cybercrime is rising rapidly in Canada and scammers increasingly know who to target.
The Canadian Anti-Fraud Centre estimates Canadians have lost more than $100 million to online fraud, and 1 in 5 people will fall victim to identity theft. Identity theft plays itself out in many ways:
Thieves scan your credit report for cards you’re not using and have new cards sent to them.
Connected to public Wi-Fi, thieves swipe personal information stored on the device.
Thieves will obtain personal information from major data breaches.
Thieves will canvass neighbourhoods and collect mail with personal information.
Always working to serve you better
Your personal information may already be circulating on the dark web, a hidden online marketplace where criminals buy and sell data used for identity theft.
With HUB’s personal cyber policy, cyber experts continuously scan the dark web for your details and alert you to potential threats so you can act sooner.
Could this happen to you? Consider these real-life cases for the benefits of cyber security insurance:
Real-life example: ransomware attack
Names changed to protect privacy.
A client’s laptop was infected with ransomware, and criminals demanded $1,500 to restore access. CyberClan confirmed the data could be recovered, negotiated the demand and facilitated payment through Bitcoin. The total cost was $1,950, including professional fees - fully covered by the client’s personal cyber policy.
The disappearing $300,000 home loan
John and Nancy Ritter were set to buy a new home. You can imagine the horror when their home loan funds suddenly disappeared. A thief used stolen personal information to initiate a fraudulent wire transfer of $300,000 from the couple’s credit union to another bank account. Wire transfer fraud is a growing problem, and wealthy individuals are one-and-a-half times more likely to fall victim. In the Ritters’ case, with the help of CyberClan, the funds were recouped.
Thieves use stolen ID for retail therapy
Katie Smith worked for a large manufacturer, was saving for retirement and being a good neighbour when she received a voicemail from a department store about activity on her newly opened account. The only problem was she didn’t have a credit card from that store. Someone had used her CRA account, date of birth and address to open an account there and at 14 other retail stores, ultimately running up $18,000 in fraudulent charges in her name.
How to build Cyber Walls Around Your Assets
A multi-tiered approach to cyber security provides extra layers of protection.
- Don’t skip the basics - Simple tools and best practices provide essential protection. Use password managers to create and organize strong, unique passwords for each account.
- Use different emails for different things - Separate email addresses for work, personal use, and banking make it easier to spot suspicious communications or compromised accounts.
- Never use public WIFI - Airport lounges, hotel lobbies and coffee shops are hot spots for hackers. It’s best to use secure networks instead.
HUB’s personal cyber insurance can cover the following
Protection against viruses, malware, and spyware affecting computers, tablets, and smart home devices.
Coverage for extortion demands to safely retrieve sensitive information.
Support when fraudsters impersonate you to access your accounts, open credit, or commit financial crimes.
Losses from criminals posing as reputable organizations or misusing your credit card information.
Coverage when you pay for goods that never arrive due to fraudulent websites.
Protection if your stored contacts or personal details are compromised.
Assistance if you or a family member receives persistent, harassing digital communication.
Coverage for malware affecting smart home technology.