Are you a business owner? Take Insurance Bureau of Canada’s Cyber Savvy Assessment today.
Are you cyber savvy at work?
We all have a role to play in being cyber safe at work.
As cyber threats increase and criminals become more sophisticated in their approach to cyber attacks and breaches, it’s more important than ever for businesses and organizations to take proactive measures to help protect themselves.
It’s equally important that employees take the right steps to be more cyber aware at work, as cyber criminals often target employees as a way to gain access to their workplace systems or networks.
But just how vigilant are Canadian businesses and their employees when it comes to protecting against cyber threats?
According to new research from Insurance Bureau of Canada, small and medium-sized businesses (SMBs) and their employees are not moving fast enough when it comes to being cyber savvy at work.1
The research found there has been little change in the past year in the number of businesses offering cyber security training, even though employee actions are increasingly putting businesses at risk. This is despite both businesses and employees saying they are increasingly targeted by cyber criminals.
Employees
75% of respondents reported at least one behaviour that could potentially compromise their employer’s cyber security or data (compared to 72% in 2022).
Only 35% of respondents report that their employer provides mandatory cybersecurity awareness training (effectively unchanged from 2022).
42% of respondents say cybersecurity training was not offered early enough when starting at a new company.
Businesses
41% of respondents believe it’s only a matter of time until they are hit by a cyber attack.
Only 48% have implemented defenses against a possible cyber attack.
Only 31% say their business has made cybersecurity a priority and created a cyber-safe culture.
Did you know?
The average total cost of a data breach to Canadian companies is an estimated $6.94 million. This is the third highest cost in the world. (Source: IBM, Cost of a Data Breach Report 2023)
Cyber insurance can be an effective way to help mitigate the impact of cybercrime on a business, and should be considered as part of an overall risk mitigation strategy. Take the Cyber Savvy Assessment and check out the resources below to learn more.
Insurance Bureau of Canada’s Cyber Savvy Assessment for Business Owners
Are you considering cyber insurance for your business? Many of the steps you should be taking to reduce your risk of a cyber attack or data breach are the same steps that cyber insurers look for when assessing your risk for cyber insurance.
Take this 10-question Cyber Savvy Assessment to learn more about the cyber security protocols that most cyber insurers want you to have and for ways to reduce your business’ risk. This assessment also offers some questions that cyber insurers may ask you.
LET’S BEGIN
Disclaimer: Insurance Bureau of Canada’s Cyber Savvy Assessment for Business Owners provides general information about cyber risk for your convenience only. This information should not be construed as providing specific cyber security advice.
News
Insurance Bureau of Canada recently conducted two polls on actions, knowledge and sentiment about cyber risk and cyber security among employees and business owners or decision makers at small and medium-sized businesses in Canada.
Resources
About
The Cyber Savvy Canada website was created by the Insurance Bureau of Canada (IBC) to help increase cyber awareness among Canadian employees and businesses and educate on the simple steps we can all take to reduce our cyber risk at work.
IBC is the national industry association representing Canada’s private home, auto and business insurers. Our member companies make up the majority of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians and to educate consumers on how best to protect their homes, cars, businesses, and properties.
Are you a business owner? IBC is here to help.
Business owners with questions about how to protect their business from cyber risks, including cyber insurance, can visit ibc.ca or call IBC’s Business Helpline at 1-844-2ask-IBC.
