Protecting your home, car, or business is essential, but in today’s world, protecting your digital life is equally important. Nearly everything we do is online: banking, shopping, social media, even controlling smart home devices. This convenience comes with risks, and that’s why at Merit Insurance, we provide more than traditional coverage. Our Cyber Security Endorsements give you additional protection against the growing range of digital threats.

What is Cyber Security?

Cybersecurity is the practice of protecting information and data on computers, networks, and connected devices. Simply put, it’s about anticipating, preventing, and responding to attacks. Every click leaves a digital footprint, and understanding how to safeguard it is a vital part of protecting your future.

Why It Matters

From identity theft and financial fraud to cyberbullying and ransomware, online threats are becoming more frequent and more sophisticated. The Canadian Centre for Cyber Security warns that Canadians are increasingly targeted by state-sponsored and financially motivated attacks. At Merit, we help you stay informed and prepared, because protection today must extend to both the physical and digital worlds.

Our Cyber Security Endorsements

Merit offers endorsements that extend your insurance coverage into the digital space, including:

• Computer Attack Coverage – Covers costs to restore data and systems after a malware attack on your computer.
• Home Systems Attack Coverage – Covers data and system restoration following an attack on a connected home device.
• Cyber Extortion Coverage – Provides expert assistance and approved payments in response to extortion attempts tied to cyberattacks.
• Online Fraud Coverage – Reimburses losses from identity theft, bank/credit card misuse, forged checks, counterfeit currency, or online scams.
• Data Breach Coverage – Covers costs related to responding to a personal data breach, including IT forensics, legal review, notifications, and support services.
• Cyber Bullying Coverage – Helps with expenses such as counseling, legal support, relocation, tutoring, and cybersecurity consultations.
• Identity Recovery Coverage – Provides reimbursement for recovery expenses and a case manager to help restore your identity and credit records.

10 Ways to Strengthen Your Digital Protection

Along with endorsements, you can take simple steps to safeguard your online activity:

• Use a password manager for strong, unique passwords
• Enable multi-factor authentication (MFA)
• Avoid saving payment info on websites or apps
• Keep systems updated to patch vulnerabilities
• Install trusted anti-virus software
• Watch out for phishing scams that mimic trusted sources
• Be cautious when clicking links
• Back up your data regularly
• Avoid public Wi-Fi unless using a secure VPN
• Protect personal details online and offline

The digital world isn’t slowing down and neither are cyber risks. At Merit Insurance, we’re committed to helping you protect what matters most with the same trusted guidance we provide for your home, car, and business.

Contact us today to learn more about how our Cyber Security Endorsements can add an extra layer of protection for you and your family.

Please note: The items listed above are not exhaustive, and other threats may exist. Not all risks may be identified or covered. Speak with your Merit broker for full details on coverage and exclusions.

From banking to shopping, video calls to smart home devices, much of our daily life now happens online. While this brings convenience, it also creates new risks. Every connected device, whether a laptop, smartphone, or home security camera, can be a doorway for cybercriminals. The reality is that threats today aren’t just about stolen money. They can mean identity theft, harassment, emotional harm, or even the disruption of home systems.

To help protect against these growing risks, Merit Insurance is proud to offer Aviva’s Cyber Endorsement as part of our insurance lineup. We believe that proper protection doesn’t just start after an attack, it begins with stopping it from happening in the first place. This add-on to your home policy goes beyond traditional coverage, providing you with the tools to detect threats early and shut them down before any damage is done.

What’s Covered Under the Cyber Endorsement

The coverage is comprehensive, addressing the many ways cyber risks can affect your household, including:

• Online Fraud – Coverage for losses tied to identity theft, unauthorized credit card or bank use, counterfeit currency, or criminal deception committed online.
• Computer and Home Systems Attacks – Restores data and systems after malware strikes, whether it’s your laptop or a connected device at home.
• Data Breach – Pays for expenses after the loss, theft, or accidental release of sensitive personal information, including forensic IT and legal reviews.
• Identity Recovery – Reimburses expenses and provides expert case management to restore identity and credit records.
• Cyberbullying – Covers costs related to online harassment, from counselling and tutoring to legal support or even relocation.
• Cyber Extortion – Access to experts and approved payments in response to digital threats demanding money or access.

Included with our Cyber Endorsement is Complimentary Dark Web Monitoring, a powerful tool that constantly scans the Dark Web for your personal information. Here’s why it’s so valuable:

• Proactive Detection: It operates around the clock, continuously searching for your email addresses, passwords, and other sensitive data on criminal marketplaces.
• Early Alerts: If your information is found, you’re immediately notified so you can take action before it’s exploited.
  Preventative Response: Our cyber specialists guide you through securing accounts, changing credentials, and locking down your information to stop criminals in their tracks.

This means you’re not just covered after something happens, you’re actively being protected from threats before they can cause harm.

Flexible Options for Households

Aviva’s Cyber Endorsement is designed with flexibility in mind, offering options that can be tailored to different households. Whether you’re looking for added protection for personal property or enhanced coverage under Ovation, there’s a level that fits your needs. What’s more, coverage extends to your family even while travelling outside Canada, and making a cyber claim won’t impact your home insurance premiums or claims-free status.

The Merit Difference

In an era where much of life is digital, insurance itself can sometimes feel transactional – an online form, a document in your inbox, a number on a page. At Merit Insurance, we believe protection should feel different. The Merit Difference is about human relationships: one-on-one conversations, a trusted broker you can call, and a real person who understands your concerns.

Your connected life deserves coverage that keeps up with the times, and an insurance broker who’s with you every step of the way.

Contact Merit Insurance today to learn more about adding Aviva’s Cyber Endorsement to your policy.

Bundling Your Insurance Lines for Optimal Coverage – The Merit Difference

In today’s fast-paced world, managing various insurance policies across different providers can be a daunting task. Keeping track of premiums, renewals, and policy details can quickly become overwhelming. With Merit Insurance, you’re not just another policyholder – you’re a valued client, and we take pride in understanding your unique needs and concerns. In this blog we will explore the advantages of bundling your insurance lines and how our brokers can create a custom protection plan for you.

1. A Comprehensive View of Your Insurance Needs

Our experienced brokers gain a holistic understanding of your lifestyle, assets, and liabilities when you consolidate your insurance lines with us. This comprehensive view allows us to identify potential gaps in coverage and recommend tailored solutions to ensure you’re adequately protected.

2. Cost-effective Bundling Options:

Bundling your insurance lines with Merit can lead to increased savings. By combining policies like auto, property, recreational, or business under one roof, you unlock the potential for multi-policy discounts. This means more value for your hard-earned money without compromising on coverage.

3. Simplified Management and Administration:

Dealing with multiple insurance providers can be time-consuming and confusing. By consolidating your policies with Merit, you streamline the administrative process. Our tailored approach makes it easy for you to access policy information, make changes, and handle claims efficiently with one broker.

4. Tailored Solutions with the Merit Difference:

We understand that every client’s insurance needs are unique. That’s why we offer personalized, one-on-one service that we call the Merit Difference. Our brokers take the time to listen to your concerns, answer your questions, and craft insurance solutions that align with your goals.

5. Access to a Wide Range of Insurance Lines:

We’re proud of the relationships we have with a variety of Canada’s top insurers and the extensive insurance offerings to our clients. Whether you’re safeguarding your family home, protecting your business assets, or auto, we have the right coverage for you.

6. Guidance for Informed Decisions:

Our seasoned brokers are well-versed in the intricacies of the insurance industry. We stay up-to-date with the latest trends, regulations, and products to provide you with informed recommendations. You can trust us to guide you towards the most suitable coverage options for your specific circumstances.

Entrusting Merit Insurance with all your insurance lines offers you a host of advantages, from a more complete view of your needs to potential cost savings through bundling. Our personalized approach and wide range of coverage options make us the ideal choice for safeguarding your assets and securing your future.

Experience the Merit Difference today and enjoy the peace of mind that comes with having all your insurance needs met under one roof. Contact us to explore how we can tailor a comprehensive insurance solution just for you.

COVID-19 1 Year Later: How COVID-19 Has Impacted Cybersecurity

One year ago today, we were presented with one of the most difficult challenges in our history. The coronavirus was spreading at an alarming rate and caused nationwide lockdowns on March 11th,2020. In honour of those we have lost, Prime Minister Justin Trudeau designates March 11 the national day of observance for Canadians who have succumbed to COVID-19.

In the past year, businesses and individuals alike have found ways to manage our day-to-day lives during a pandemic. Due to the necessity of safety protocols and social distancing, more people than ever are communicating online. Whether it’s working from home, participating in school classes, or simply sharing sensitive documents digitally, the cyber world has seen a huge upswing in use over the past year for people of all ages. This has opened up a new risk that many people were not prepared for, cyber-attacks.

People are more digitally connected and increasingly vulnerable to cyber-attacks online. Because of this, it’s important for businesses and individuals to consider cyber insurance to protect themselves in the face of burgeoning cybercrime. According to a survey from data and analytics company GlobalData, just over a third —34 percent —expect to return to the office full-time in the future, while 21 percent expect to be at home permanently, with the remaining 45 percent somewhere in between. This means our reliance on cloud-based technologies will continue in the future.

Cybercriminals have also been paying attention to these numbers as phishing scams — fraudulent emails intended to entice the victim to send money or open a link that installs malicious software on the victim’s computer — have been on the rise. Cybercriminals, through scam emails mimicking trusted sources like government and healthcare agencies, can cause real and long-lasting damage to anyone who opens them.

Ransomware — a variation of malware that allows hackers to lock people out of their business systems until they pay a ransom to an offshore bank account, is another growing issue that has serious repercussions. Luckily, cyber insurance can offer protection if you are being extorted financially online.

Cyber insurance can help cover a number of vital, potentially damaging issues, including:

• Regulatory defense expenses are civil fines incurred in responding to a regulatory proceeding resulting from a privacy or network security breach.
• Legal and civil damages: The cost of legal representation and possible damages related to a privacy or network security breach.
• Security breach remediation and notification expenses, which include the costs to notify affected parties and manage a privacy incident.
• Crisis management expenses: Public relations expenses to manage the damage to your organization’s reputation.
• Forensic investigations expenses: The costs of hiring a breach response firm.
• Computer program and electronic data restoration expenses: Expenses to restore or recover damaged or corrupted data caused by a breach, denial-of-service attack, or ransomware.
• E-commerce extortion and reward payments coverage: Pays for the cost of a professional negotiator and potential ransom payments to the person or organization extorting you or your organization.
• Business interruption and additional expenses: Income your business loses and the costs it incurs due to an interruption in services.

“Cyber coverage for both business and personal protection has become even more important as we continue to navigate our way through the COVID-19 pandemic,” says Commercial Vice President Dean Morrissey, BA, FCIP. “Working away from the office now is exposing both our businesses and our personal information to cyberattacks through the use of unsecured networks and WIFI.”

Cyber-attacks can cripple your business with the click of a mouse. An attack can not only be expensive to fix but it can lead to customer data breaches and ultimately damage your reputation.

Whether your company is a multinational organization, or you work from home, all businesses are susceptible to online attacks and can benefit from cyber insurance. We live in a time when many organizations do all of their activities electronically, and the majority of their assets are in the data they collect. This type of insurance is relatively new due and constantly evolving as businesses become more present online.

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For more information about how to effectively protect yourself and your business, contact Merit Insurance Business Brokers at Tel: 1-800-563-3383 | Email: welcome@merit-insurance.com.

Cybercrime and Legal Expenses: Is Your Small Business Fully Protected?

When you first opened your business, you likely purchased business insurance to protect you against losses due to fire and theft, the sudden breakdown of critical equipment, or errors and omissions that had a negative financial impact on your customer.

However, as comprehensive as these insurance products are, you might consider purchasing additional specialized coverage to protect you against the growing threat of cybercrime, as well coverage for legal expenses in the event your business is involved in a lawsuit.

 Cybercrime: A Rising Concern

If you run a small-to-medium size business (SMB), chances are you’re storing and holding electronic data that contains sensitive information. No matter how much you safeguard that data, you’re at risk for cybercrime.

According to the Canadian Chamber of Commerce, cybercrime costs Canadian businesses $3.12 billion per year. Ransomware and other website attacks have also risen by as much as 250% since 2016.

A common misconception about cybercrime is that small businesses are too insignificant for criminals to worry about. However, StaySafeOnline.org notes that SMBs are the victims in over 70% of cybercrime cases, while Visa reports that 95% of credit card breaches involve SMB customers.

Data breaches can happen in any number of ways, including:

• Downloading a virus that takes away your access to critical data
• Loss of a device containing sensitive customer information
• Corruption of a critical database by malware

No matter which industry you’re in, the risk to your SMB is quite substantial. You can help protect your business from losses that result from a cyber attack with cyber risk insurance.

Cyber risk insurance offers a wealth of coverage for your business, including:

• Incident response expenses
• Data recovery expenses
• Business interruption
• Extortion
• Network security and privacy liability
• Internet Media Liability
• Regulatory Expenses

As a policyholder, you may also be entitled to consultative services that cover proactive measures to protect your business, as well as reactive assistance if your business should fall victim to a data breach, such as:

• Pre and post privacy breach services
• Incident response planning
• Crisis management
• Notification assistance
• Media relations consulting
• And more

Take the initiative against the growing problem of cybercrime before it brings your business – and professional reputation – to a standstill.

Legal Expenses Insurance

Just the mention of the word “lawsuit” can send a chill up the spine of any business owner. Unfortunately, lawsuits can happen to any business, but you can help offset most legal expenses that come from this type of legal action with Before the Event (BTE) legal expenses insurance.

Before the Event (BTE) Insurance

BTE insurance is much like other types of insurance, in that you purchase it in case you take legal action against someone, or if something happens that results in legal action being taken against your business. It’s a great option for SMBs who don’t have in-house counsel.

The types of cases BTE insurance covers include:

• Employment disputes
• Contract disputes
• Tax disputes (including audits and appeals)
• Violations of certain statutes, e.g., anti-spam laws
• Suspension or cancellation of business-related licenses
• Property issues, e.g. to pursue claims related to physical damage and trespass
• Defense in certain criminal prosecutions, e.g., breaches of occupational health and safety legislation

For these types of cases, BTE insurance will cover legal expenses such as:

• The insured party’s lawyer’s fees
• Disbursements (including expert witness fees)
• Court costs
• Any opposing party’s legal costs that the court orders the insured must pay

Although coverage under BTE insurance is quite broad, it does not cover the cost of damages you might have to pay if you lose your case.

Check Your Commercial Insurance Policy

By closely reviewing your commercial insurance policy, or discussing it with your broker, you’ll know if your business is already covered for cybercrime or legal expenses. The important thing is to never assume and then find out too late that you had insufficient coverage when you needed it the most.

Start Saving with Merit Today!

Make sure that you, your family, your property, and your business are fully protected. Call your Merit broker for a quote today at 1-800-563-3383 or contact us online.  We’ll customize a homeowner and property, vehicle, or business insurance policy with affordable rates and deductible options that meet your needs.

7 Ways to Protect Yourself from Cyber Crime

According to a recent survey, most Canadians reported spending an average of 24.5 hours per week online during 2016, up from 22 hours per week during the previous year. In addition, Canadians between the ages of 18 and 34 spent 34 hours online per week in 2016. In both cases, that adds up to more than one full day each week!

Much of this rise can be attributed to easy access to goods and services through online shopping, as well as catching up with the latest posts or blogs or chatting with family and friends on social media.

It’s no secret: being online can be fun! But because much of our online activity involves sharing our personal information, you need to be aware that there are also risks involved that could lead to you being a victim of cybercrime or identity theft.

Cyber Crime in Canada

Cybercrimes are especially frightening because you don’t often know you’re a victim until it’s too late. With online criminals becoming more sophisticated, it’s important to take precautions to protect yourself, your credit rating, and your assets.

According to Statistics Canada, fraud accounted for more than half of cybercrimes committed in 2012. The definition of fraud includes misappropriated assets (such as monetary assets/cash or supplies and equipment), bribery and corruption, and mortgage fraud.

These crimes can be devastating as they could lead to financial ruin, public embarrassment, and health issues. In many cases, the criminals are hiding far away in another country and rarely brought to justice. Worst of all, what they’ve stolen is often gone forever.

Fortunately, there are some simple steps you can take to protect yourself, your family, and your business from suspicious online activity.

Protect Yourself from Cyber Theft

The best way to protect yourself from cyber theft, as well as real-world crime, is to develop good habits that secure your online activities.

1. Use strong passwords: Your password might be easier to remember by simply combining your first name and year of birth, but doing this makes it easier for criminals to guess. Combine letters, numbers, and special characters to make them as cryptic as possible, and change them regularly.
2. Install protective software: Keep your firewall, anti-virus/malware programs, and spyware software running and up to date to prevent unwanted viruses, hackers, and spyware from attacking your computer.
3. Update your operating system: Using outdated Windows, Mac, and Linux operating systems can make your computer vulnerable to attack. Always keep them updated to minimize the chances of a breach.
4. Be cautious on social media: Make sure your security settings are up to date and be careful not to post information that gives away your routines, location, or anything else that could compromise your security. This includes when you go on vacation, which tells criminals that no one is home!
5. Use secure wireless networks: Your home Wi-Fi should be properly secured with an encrypted password so it is safe to carry out financial transactions online, but be careful when using public Wi-Fi networks that could be potentially unsecure. Avoid online shopping and banking or anything that requires you to provide a password on unsafe networks.
6. Watch out for suspicious emails: This goes beyond those emails from a foreign prince. Thousands of fraudulent emails pretending to be from reputable companies and government agencies are sent out on a regular basis. Many of them employ scare tactics to elicit an immediate response from you. Be careful – don’t click on any links in the email or give out personal information if you’re unsure.
7. Turn off & secure unused equipment: Make sure to turn off any microphones, cameras, or video cameras connected to your computer when you’re not using them. Also, don’t forget to properly secure your smartphones, tablets, and other mobile devices that connect to the Internet as well. They’re just as vulnerable to attack as your computer is.

October is Cyber Security Awareness Month

Public Safety Canada has joined an international effort to help educate the public about cybersecurity. Part of this initiative involves a campaign held each October called Cyber Security Awareness Month (CSAM).

CSAM is designed to help Canadian families, individuals, and businesses be safe and secure online. By following simple steps to protect themselves, Canadians will not only lessen the chance of being victimized but also know how to spot suspicious activity before it becomes a real threat.

Public Safety Canada cooperates with the Canadian public, as well as provincial and international government and law enforcement agencies, in an effort to keep Canadians well informed with regard to the latest online safety techniques, and hopefully one step ahead of those who wish to breach them.

Learn How Merit Can Protect You

If you have questions about cyber crime, or would like to further protect yourself, your family, and your business from cyber crime with specialized insurance products from Merit, call your broker at 1-800-563-3383 or contact us. We’ll find the right insurance for your needs!