Why Insurance Brokers Should Care about Cyber Security Awareness Month

Cybercrime is Growing – That’s Why Cyber Security Awareness Month is So Important

The #1 Threat 

As digital footprints grow and homes and businesses become more interconnected and cloud-dependent, so does the challenge of keeping personal data safe. 

In fact, cyber crime is now the biggest threat to an individual’s digital life, whether at home or at work. 

Police-reported cybercrime reached 225.1 incidents per 100,000 Canadians in 2024, according to Statistics Canada, more than double the rate in 2018, while more than half of Canadians over 16 have experienced a data breach. It’s not surprising, considering fraud alone accounted for nearly half of all police-reported cyber crime in 2024 and today’s hackers can crack a weak password in 1 second. 

Small businesses are especially vulnerable and increasingly targeted. They’re three times more likely to get hacked and experience 350% more social engineering attacks than larger ones. 43% of Canadian organizations were hit by a cyberattack in the past 12 months, according to CIRA’s 2025 Canadian Cybersecurity Survey, with the steepest increases concentrated among small businesses. For many small businesses, an incident like this means they won’t recover. 

“Cyber criminals have more tools than ever,” says Jardine. “With AI, they’re faster, more convincing and more scalable. That makes cyber security awareness more critical than ever, for everyone.” 

That’s why Cyber Security Awareness Month matters. It’s a reminder for individuals, families and businesses to take back control: to protect data, educate family members or employees and invest in tools that help keep everyone safe online.

Lack of Awareness and Education
  

Despite the rise in cyber crime, many people are still unaware of the risks. 

A concerning 65% of Canadian senior executives revealed they’ve been the target of at least one cyber attack in the past 18 months, while one in five Canadian companies admit they don’t know enough about cyber security to protect themselves. 

Part of the problem is security fatigue: 69% of people say they feel overwhelmed by the number of passwords and security steps they’re expected to manage, according to Bitwarden’s 2025 survey, making it easier to tune out the constant warnings about cyber threats instead of acting on them. 

“Cyber security fatigue makes it easier for cyber criminals to succeed in their attacks, leaving both individuals and companies increasingly vulnerable,” says Melanie Bean, Claims Manager at BOXX. “Most hacks target small businesses, and better preparation and awareness on the topic can lessen the aftermath of the attack,” Bean says. 

On an individual level, it’s even more alarming. In Canada, more than half of internet users don’t use privacy tools to safeguard their personal data. And even though identity theft offences involving Canadian youth rose 92% in a single year, only 62% of Canadian parents have talked to their child about cyberbullying, according to the Privacy Commissioner of Canada’s 2025 research. 

Lack of Cyber Insurance  

Despite rising cyber threats, many Canadian businesses hesitate to invest in cyber insurance, often assuming they won’t be targeted.

Over 40% of insurance brokers report clients refuse coverage, believing their data isn’t valuable or that small businesses aren’t appealing to cyber criminals. 

Advising Clients to Stay Safe Online: Cyber Security and Insurance

As cyber threats evolve, so must our cyber awareness, preparedness and defences.  

Taking cyber security measures and getting the right cyber insurance are your clients’ best bet against growing cyber threats. Here are some best practices to safeguard individuals, households and businesses: 

• Training and Awareness: Educate employees and family members on the latest cyber threats, including how to spot and report phishing. Consider prioritizing BOXX’s 10 online safety tips and cyber safety resources, including how to prevent ID Theft, deal with cyber bullies and how to avoid romance scams. 
• Strong Password Policies: Nearly 19 billion passwords were exposed in breaches between April 2024 and April 2025 and 94% of them were reused or duplicated across other accounts. The average smart home could be at risk of more than 12,000 hacker attacks in one week. Implement strong password hygiene, use multi-factor authentication and change passwords regularly, using a password manager. 
• Cyber Security Tools: Invest in cyber security tools like VPNs, firewalls and antivirus software to secure both your personal and business networks and devices and regularly keep software updated. 
• All-in-One Cyber Insurance and Protection: Cyber insurance is no longer just an option, it’s a necessity. Whether clients are insuring their homes or protecting their business, policies designed to protect against cyber risks can offer a critical safety net. BOXX helps businesses and individuals predict, prevent, respond to and recover from cyber incidents with always-on Cyberboxx® Assist tools built into every policy. This includes dark web monitoring, attack surface management and 24/7 access to Hackbusters® breach response experts to contain cyber incidents. BOXX’s virtual Chief Information Security Officer (CISO) provides an extra layer of protection for small businesses, acting as your personal cyber security team. 

Make Cyber Security Awareness Month a Priority

There’s a lot to be anxious about in our digital world as we observe Cyber Security Awareness Month in 2026. But consumers and businesses can fight back by making cyber security awareness and resilience a priority. Advising clients to stay informed and invest in the right protection and insurance can help keep their business, home and family safe. 

Becoming cyber aware is the first step. For more insights on how to safeguard your digital world, check out BOXX’s cyber security resources.