In the rapidly evolving digital era, the 2023 winners of Insurance Business Canada’s 5-Star Cyber could be deemed essential in safeguarding businesses against new and emerging cyber risks. These top-tier providers were selected based on their comprehensive coverage, access to risk mitigation and evaluation partners, competitive pricing, breach response, and underwriting and handling expertise.

The importance of a reliable and comprehensive cyber insurance partner cannot be overstated. The COVID-19 era saw surges in cyberattacks and ransomware, each becoming serious threats to businesses and causing many to rethink their cyber security, leading to a rise in the demand for and cost of cyber risk coverage. 

As organizations move more of their operations online, the best cyber carriers are rising to the challenge by staying ahead of ever-evolving cyber threats and attacks. 

Awardee Northbridge Insurance stood out as a leader in cyber risk management through comprehensive policies and support, holding a 10-year track record in the cyber carrier space. Northbridge has tailored its cyber risk products to align with market trends and cover various cyber solutions, such as breach response, data recovery, business interruptions, and other cybercrime-related events.

“Working with our customers to improve their risk over time is something we do on normal lines of business, and we’re trying to adopt the same principles on cyber risk,” said Northbridge Insurance underwriting director Patrick Cruikshank.  

Click here to learn more about this year’s Best Cyber Insurance Providers in Canada.