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Loss Prevention Tip #66: Take Proactive Measures to Reduce Cyber Risk

Did you know that Canada ranks second in the world among countries most affected by ransomware attacks, with 216 victims reported in the first half of 2025? In addition, the average total cost of a data breach for a Canadian company is nearly $7 million.

It’s more important than ever for law firms to take proactive measures to protect themselves.

The Insurance Bureau of Canada (IBC) has created The Cyber Savvy Canada website to help increase cyber awareness and provide practical guidance on reducing cyber risk. It includes a cyber insurance checklist, tools for developing a cybersecurity plan, and a brief assessment to evaluate your current level of preparedness.

For more information or to explore our Loss Prevention Tips, please click here.

 

Posted: 27 November 2025