Globally recognized cyber insurance specialist, BOXX Insurance Inc. has partnered with Niche Assurance Inc. to provide their prevention-first insurance solution, Cyberboxx™ to small-to-midsized enterprises (SMEs) and families in Québec. BOXX is backed and approved by Lloyd’s of London as a cyber underwriter.
Mike Senechal, BOXX’s Chief Operating Officer, commented on the entry into Québec: “Cyber threats effect all companies connecting to the internet. Whether in Toronto, Halifax or Montréal, businesses are increasingly dependent on the internet to run their operations. More recently business, of all sizes, have become increasingly dependent on employees telecommuting from home and using less secure home devices and networks.”
Québec has the second highest number of SMEs in all of Canada. Many of them are at risk from a cyber attack but uncertain how to stay protected. “That’s why we built Cyberboxx™—to help businesses stay ahead of cyber threats by combining cyber insurance, employee training and cyber security into one, affordable solution,” said Co-Founder and CEO of BOXX Insurance, Vishal Kundi.
“Now, more than ever, cyber protection is critical for businesses of all shapes and sizes in Québec,” said Mark Pedicelli, President of Niche Assurance. “BOXX’s cyber insurance products and services are giving Québec-based business owners the protection they need to stay ahead of cyber threats and the confidence to know they can respond and recover if the worst happens. We look forward in supporting Québec brokers in the distribution of their unique product.”
Whilst the media spotlight is on the big hacks that happen to big companies, analyst reports suggest that up to 70% of hacks target SMEs.