Cyber attacks are no longer isolated incidents—they’re long-tail events that can stretch from the initial breach to months or even years of legal, financial, and reputational fallout. While headlines often focus on the moment of impact, the real challenge for businesses begins when stakeholders start asking tough questions: How did it happen? Were we prepared? What’s being done to prevent it again?
Our latest Risk & Resilience report reveals a concerning gap between perception and reality. Although 80% of Canadian business leaders feel confident in their cyber preparedness—up from 64% last year—many still underinvest in cybersecurity and insurance. This leaves small and mid-sized businesses especially vulnerable, as they often lack the financial cushion to absorb the full cost of an attack.
To truly protect themselves, companies must adopt a full-spectrum approach to cyber risk. That means investing in proactive security tools, rapid incident response capabilities, and post-breach recovery support. Just as crucial is securing comprehensive insurance coverage and embedding cybersecurity into board-level governance. Cyber risk isn’t just an IT issue—it’s a business continuity imperative.
Original article courtesy of CanadianUnderWritier.ca.
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