b'Third Party Liability ProtectionSafety issues (injury)Misdirected supplies or products Additionally and most importantly, some insurers provide cyber insurance coverage that also extends toLoss of dissatisfied customers third party liability coverage. This product offers defence and indemnification / settlement if you are chargedBusiness interruption by another party for causing its financial loss or other damages as a result of a successful data breach against Loss of revenue your company. Property damage We urge you to consider this risk category very seriously, as you are already possibly being watched.Faulty products / services Fenn&FennInsurancePracticeInc.hasbeenprovidingvaluedriskmanagementadviceandcoun-Irretrievable information sel to OIRCA and its members since 2005. Fenn & Fenn also operates the OIRCA Liability Insurance Pro-Reputation vulnerability gramme. To call an associate about cyber insurance, dial 1-866-269-8799. You can also contact us by e-mail at Employee concerns hello@fenninsurance.com. Thank you. Data replacement costsLegal / regulatory liabilityCosts of forensicsExamples1.Ransomware:Aproductdistributor,whodepended upon its interactive website for online sales, had its website hacked and frozen by a hacker. The hacker charged a $10,000 ransom to the distributor to release the website. The distribu-tor paid the ransom and involved the police. The website is now re-coded and running. No insurance was involved. Ex-ampleFenn & Fenn Insurance Practice Inc. 2. Privacy Breach: A medical clinic employee accidentally released client names and medical records. The clinic notified its clients immediately. Two months later, one of the clinics clients was a victim of identity theft and sued the clinic for damages. The parties settled for $50,000, plus $25,000 in de-fence costs. Claim ExampleEncon Insurance Managers. 3. Network Data Breach: An association offering online educational webinars ran a promotion encouraging members to register and pay for an upcoming webinar on its online web-site.Shortlyafterwards,theassociationscomputersystems were improperly accessed by a third party, exposing member names, postal addresses, phone numbers and credit card infor-mation. Remediation costs were in excess of $60,000, includ-ing notification of the breach to association members, credit monitoring and public relation services. Claims ExampleEn-con Insurance Managers. 4. Copyright Infringement: A health and safety consultant offered online courses such as first aid, human rights and lead-ership development. The consultant had previously purchased all copyrights from another health and safety training firm that had allegedly created the online courses. A third party launched a lawsuit against the consultant, as well as the train-ing firm who sold the material to the consultant, for copyright infringement. The plaintiff alleged that the material used on-line by the consultant was in fact authored by him and he had never authorized the consultant to use the material. The law-suit went on for several years. A settlement was finally reached among all parties in excess of $300,000, with a contribution of $40,000 from the consultant. The cost of defending the claim was $100,000. Claims ExampleEncon Insurance Managers.5. Email HackFraud: A supplier invoiced a customer via email for payment installment. The customer paid the in-voice. In the process, a hacker accessed the suppliers email ad-dress and details of the invoice. The hacker sent the customer a fraudulent follow-up for payment in the suppliers name. The customer issued payment again, and the customers funds ended up in a foreign bank account. Interpol apparently got involved. ExampleFenn & Fenn Insurance Practice Inc. As this issue grows, the insurance industry learns more and more and becomes better prepared to offer protection. The protection today is robust and includes expenses following an attack, such as first party protection and third party liabil-ity protection.First Party ProtectionFirst party protection includes:Client notification costs Re-coding consultants and expenses Business interruption insuranceRansom negotiators ORN THE ONLY SOURCE FOR PROFESSIONAL ICI ROOFING CONTRACTORS IN ONTARIO ONTARIO ROOFING NEWSISSUE 4 2021/2217'