Ransomware: Understanding the Threat to Protect Businesses

In 2024, 28% of Canadian businesses were targeted by ransomware.

Ransomware attacks are more frequent and sophisticated than ever. They now represent one of the most disruptive forms of cybercrime, leading to major financial losses and operational disruptions that cause significant damage to businesses’ reputation.

It has become essential for businesses to be aware of this particular form of cyber risk in order to take efficient protection measures and implement appropriate prevention strategies.

In this report entitled “Ransomware: Impact & Insurance Perspective,” our Cyber Risk Management Team explains what a ransomware is and provides insight into the appropriate measures of protection available to businesses.