Many Canadians have been working from home, since the pandemic, which has caused an increase of business being conducted online and not from the usual business premises. Cyber criminals or hackers are taking advantage of our new reality. There has been a dramatic increases in the number of cyber attacks on organizations.
It’s more important than ever that you take steps to ensure you are protected against cyber crime. Have you considered adding Cyber Insurance to your policies? Cyber insurance protects you against cybercrime and cybersecurity risks such as a breach of personal information, identity theft and online fraud events, cyberbullying, and so much more.

Malware: Malware is software that can operate silently in the background, monitoring keystrokes and user actions and then sending the information it collects to the attacker. Finding passwords and document locations in the data collected can be trivial once a network is infected.

Ransomware: Another growing threat is ransomware, which is software that encrypts the files in a targeted network, preventing users from accessing the files and often bringing business to a grinding halt. The attacker then offers to decrypt the locked files in exchange for a ransom payment in an untraceable cryptocurrency.

Phishing: One of the oldest forms of cyber-attacks, phishing remains a threat because cyber criminals have become more skilled at impersonating emails from trusted sources. An email from a bank, client, or provider may not be what it seems, instead leading the user to a malicious attachment or dubious link.

Companies that are relying more on an online presence and use e-commerce as a distribution method or have employees who carry electronics that hold customers’ personal or commercial information should contact their insurance broker, who can help them find coverage to best protect themselves.