Every day business owners rely on our computers, smart phones and tablets to keep them connected with their business and to their clients. If your business spends any time online, make sure it is protected against cybercrime.

October is Cyber Security Awareness Month. A month dedicated to taking stock of the devices we use and making sure we that businesses are protected against cybercrime.

With the increase in cyberattacks, being aware of your company’s vulnerabilities is important. According to the 2019 CIRA survey on cybercrime, 71% of organizations reported experiencing at least one cyber-attack that impacted their organization in some way, including time and resources, out of pocket expenses, and paying ransom. In addition to these inconveniences, only 19% of Canadians stated they would continue to do business with an organization if their personal data were exposed in a cyberattack. Needless to say, a cyberattack can be time consuming, damage a business’ reputation and result in loss of revenue.

 Even the biggest, most successful multi­-national businesses have experienced massive data breaches, so any business is a potential target. Unfortunately, the various privacy acts put a heavy burden on businesses handling sensitive data, and even unintentional breaches that are not the fault of anyone associated with the company can be declared as negligent.

If your company is doing business online, and in the process, collecting sensitive data protected by privacy acts, it’s important to protect your business in the event of a data breach. Cyber Insurance is an insurance product specifically designed to provide businesses with peace­ of ­mind as they do business in today’s online environment. OTC Insurance will be happy to explain how Cyber Insurance works, and the appropriate level of coverage for your business.

Take the first step to ensure your business is protected against cybercrime, by requesting a free quote at https://info.otcinsurance.ca/cyberinsurance.