Insurance Coverage for Cyber Crime and Hacking

Cyber Risk

If you have a computer that is hooked up to the internet, you are being exposed to cyber risk. People think that cyber criminals only target larger companies, but they target everyone. Smaller companies often make better and easier targets because they do not have the resources or defenses that bigger companies will have.

In the last year breaches from hacking or malware has doubled. The senders have been getting more sophisticated with the way they disguise their way into their victim’s computer.  A lot of new malware programs and ransomware were being created within the last year, which has not helped with the number of people being breached.

Insurance companies in Canada are starting to offer protection for Cyber risk. Companies do not want their client’s personal information getting out, and if a cyber attack were to happen to their business it could easily happen.

No matter how big or how small your company is you should always try to be protected from cyber attacks, whether it be screening suspicious emails or using the proper virus protection.