A policy does not replace backups or a recovery plan
- Ask what it pays for, and what you would still have to do yourself
- Check what the policy requires before you need it
- Build recovery habits before the incident, not after
New data · Statistics Canada
Cyber insurance uptake has more than doubled since 2021
More businesses hold cyber risk insurance, yet only 6% of insured businesses hit by an incident tried to claim in 2025.
The data
| Survey year | Share (%) | Note |
|---|---|---|
| 2021 | 16 | The earliest survey year shown. The share has risen in each survey since. |
| 2023 | 22 | Up from 16% in 2021. In 2023, 9% of insured businesses hit by an incident attempted a claim. |
| 2025 | 34 | More than double 2021. Large businesses: 63%. Only 6% of insured, impacted businesses tried to claim. |
Businesses with 10 or more employees, excluding public administration. A larger share now holds a policy, but a smaller share of insured, impacted businesses tried to claim (9% in 2023, 6% in 2025).
Adapted from Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2025 (released Oct. 21, 2026). This does not constitute an endorsement by Statistics Canada of this product.
Before you buy or renew a policy
- Check the controls it asks about. Make sure the controls on the application are actually in place today.
- Read the exclusions. Find out whether a payment-change scam or a lost laptop is covered, and what it would cost you if it is not.
- Write down who you call first. Keep that number somewhere other than your email.
Sources
- Impact of cybercrime on Canadian businesses, 2025 (The Daily), Statistics Canada. Read on .