According to the CIRA Cybersecurity Report, 80% of Canadian organizations reported experiencing at least one cyberattack that impacted their databases in 2020. Small businesses are particularly vulnerable–recent reports show that despite their size, SMEs comprise roughly two-thirds of all privacy breaches.
Why? Smaller businesses generally have fewer security provisions. Plus, if you regularly work from home, hackers can take advantage of weak cybersecurity through unsafe home Wi-Fi networks, unencrypted connections, and unprotected devices. As a Staffing & Recruitment Professional, you may even be more attractive to cybercriminals because of your network, third-party connections, and access to confidential client and employee information.
And when it comes to a breach, data loss is just the tip of the iceberg. The average data breach can cost up to $3.9 million USD. Depending on the damage, your business might also have to pay legal fees, damages, fines and penalties under the PIPEDA Digital Privacy Act, and more–especially if the data lost violates the terms of a client’s NDA.
Data Security and Cyber Breach Insurance can protect you against these losses by providing you with the resources and support you need to get your business back online, rebuild your reputation, and regain your clients’ trust. A dedicated, standalone cyber policy can help you access:
- Funds to set up credit monitoring and notification for affected parties;
- Legal and public relations consulting on how to handle the breach;
- Business interruption coverage for lost revenue if your agency is unable to use data that has been corrupted or deleted in an attack;
- A forensic investigation team to help you determine the size and scope of a breach;
- And much more!
Contact PROLINK to learn more today!