Cyber incidents, such as phishing email or text scams, are so common that you probably receive them daily. The rise of cyber threats like these is part of a growing global cybercrime crisis that is expected to cost the world $10.5 trillion a year by 2025.
Not only are the frequency of cyber incidents increasing but the types of threats are becoming more sophisticated and costly. That means it’s easier than ever to be caught off guard – and if you are a victim of a cyber attack, the cost of recovery can be significant.
$1.2 Billion
Total spent by Canadian businesses on recovery costs related to cyber
$10.5 Trillion
Estimated global cost of cybercrime by 2025 [Cybercrime]
$100,000
Minimum cost of a cyber attack reported by Canadian small businesses [IBC]
Cybercriminals are constantly evolving their tactics, making it harder to recognize and defend against online threats. Whether through deceptive emails, malware, or data breaches, Canadians are facing an increasing number of cyber risks.
Here are the top cyber security threats affecting Canadians today:
If you’re still not sure if cyber insurance is right for you or your small business, read our real-life cyber scenarios where a cyber insurance policy helped individuals prevent and recover from digital scams:

Hackers locked a thriving wellness studio out of their Instagram, demanding $10,000. With 10K+ followers and no website, their business faced deletion in 3 days. (READ MORE)

An owner of a luxury consignment, was tricked by an online scammer posing as royalty. Stressed and distracted, she sent $7,500 before realizing it was a fraud. (READ MORE)

An online therapy provider found a vulnerable server during a routine scan. With help from their insurer, they removed the threat—avoiding a major cyber attack. (READ MORE)
Speakers: Mike Burgener, Jim Hand
This fireside chat with Canada’s largest credit union will cover how personal and commercial fraud have evolved. Jim and Mike will dissect how Vancity is addressing fraud and the most common types of fraud they encounter. They’ll also highlight how Vancity is innovating to detect, prevent and notify clients about fraud from the back end to the front-line. They’ll finish off by taking an in-depth view of what a typical fraud recovery process looks like and the role insurance programs can play in distributing cyber at scale through affinity channels.
Speakers: Erik Tifft, Neal Jardine
The days of manual submissions may be in the rearview mirror for most brokers as mature specialty markets are headed towards APIs and rapid quoting. Our Head of Global Underwriting will showcase to brokers how technology is now able to provide cyber quotes in seconds – saving brokers and clients time. Neal will join the session to take brokers through a sneak peek of the new BOXX underwriting platform that will deliver a best-in-class quoting experience that will revolutionize how we serve brokers and their clients.
Speakers: Avi Mali, Mouna Hanna, Ruby Rai, Sophia Kudlyk
Moderator: Brett Boadway
This power panel will cover all angles of cyber risk and how brokers can prepare themselves and their clients for the cyber and AI risks of tomorrow. Topics covered include regulatory and privacy developments, current market state and how these factors are impacting underwriting and coverage. The panel will dig into the types of claims they are seeing across their portfolios and how client behaviour adapts after one.
They’ll also provide practical tips on how brokers can keep up with the pace of emerging cyber risks – and how they can best position themselves to sift through the noise to best advise their clients.
Speakers: Steve Penney, Marcus Fluellon
Cyber risks are fluid and change frequently during the policy period which makes real-time information and prevention a gamechanger. In this session, Steve and Marcus will go over how BOXX’s investments in technology and cyber security are helping clients stay ahead of digital and operational risks. They’ll showcase practical examples of how our threat intelligence model, made up of humans powered by tech and AI – not just alerts – prevent 80% of potential claims from turning into a breach.
Speakers: Erik Tifft, Katie Pollock
Katie and Erik will cover what’s new at BOXX and how we’re championing the next phase of cyber insurance. They’ll cover our all-in-one policy and service differentiators that are included in every BOXX policy at no extra cost – and what brokers and clients find to be the most valuable.
They’ll also cover what’s in our policy pipeline plus key endorsements within Cyberboxx® Business that will showcase the value of a cyber insurance policy to the 80% of businesses that don’t have one.
Speaker: Neal Jardine
This session will set the stage for the day and cover big-picture perspectives on the everchanging cyber risk landscape. Neal will help brokers sharpen how they discuss cyber risk topics with clients by highlighting the top attack vectors and AI trends impacting cyber risks against Canadian businesses.
Leveraging his technical background, he will dig into how interconnected systems and technology interdependencies are creating new risks for businesses they may be unaware of – and where cyber insurance can help. And lastly, he will touch upon personal cyber trends and how they will be an emerging opportunity area for brokers.