Zensurance: Cybercrime Affects More Than 50% Of Small Businesses In Canada

(MENAFN- GlobeNewsWire - Nasdaq) Survey data reveals more than half of Canada's small businesses have experienced a cyber incident as emerging threats raise the stakes considerably

Toronto, ON – September 30, 2025, Oct. 01, 2025 (GLOBE NEWSWIRE) -- As Cybersecurity Awareness Month kicks off, Zensurance , Canada's leading small business insurance provider, is urging Canadian entrepreneurs to focus on cyber resilience year-round. With cyber-attacks surging in scale, sophistication and financial impact, too many small businesses are unprotected and lack basic cybersecurity measures.

A recent Pollfish survey of 1,000 entrepreneurs in Canada found that more than half (53%) of the country's small businesses have already been hit by a cyber incident . Those events included:

• Phishing attacks (46%)
• Malware (23%)
• Fraudulent transfers (19%)
• Ransomware (6%)
• Distributed denial-of-service (DDoS) disruptions (6%)

“For small businesses, cybercrime isn't a distant possibility, it's a ticking time bomb. Cybercriminals don't care how small your business is – they care how vulnerable it is,” said Danish Yusuf, Founder and CEO of Zensurance .“One click on a fraudulent email or one missed software update can cost you everything. Without cyber insurance and proactive defences, many small businesses are just one attack away from closing their doors for good.”

Additionally, the evolution of artificial intelligence-powered cybercrime is raising new alarm bells. In the Pollfish survey, when asked about AI-driven cyber-attacks, respondents revealed a stark divide. While 34% already see them as a major threat and 40% view them as an emerging risk, still 16% believe only larger companies are at risk and 10% are not concerned at all.

The High Cost of Cybercrime

Cyber-attacks are not just inconvenient – they are financially devastating. On average, according to CloudSecureTech, Canadian small and mid-sized businesses are losing:

• $89,000 per phising attack
• $118,000 per funds transfer fraud
• $330,000 per ransomware incident

The financial exposure from cybercrime is staggering: 40% of small businesses in Canada report losses exceeding $100,000, while average data breach costs have climbed to $220,000 – dwarfing the cost of protection.

Zensurance offers a range of cyber insurance options for small businesses starting at just $31 per month . It covers financial damages, legal fees, breach notifications, IT recovery, and even employee overtime for remediation.

A Dangerous Misconception:“Too Small to Be a Target”

Despite the mounting evidence, many entrepreneurs continue to underestimate their vulnerability. The Zensurance Small Business Confidence Inde reveals that, in Canada:

• 23% of small businesses admit they are "not preared" for a cyber-attack
• 33% say they are "somewhat prepared"
• 18% say cybersecurity threats are not applicable to their businesses
• 25% lack cyber liability insurance entirely
• Over 60% of small bsinesses and 73% of sole proprietors believe they're "too small" to attract cybercriminals

“Small businesses need to recognize that cybercriminals target all sizes and industries. With relatively simple steps and the right insurance coverage, businesses can reduce their risks significantly,” said Graeme Barrie, cybersecurity expert, consultant and President of NetMechanics.“Small businesses underestimate their appeal to cybercriminals, but in many ways, they are the most attractive targets because their protections are often limited. The right mix of prevention and insurance is the only real safeguard.”

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About Zensurance

Founded in 2016,Text> is an online insurance brokerage and leading source for small business insurance in Canada. Having served over 500,000 Canadian small businesses, Zensurance empowers small business owners, entrepreneurs, independent contractors, and self-employed professionals across hundreds of industries to shop and get the specialized coverage they need in just a few minutes. Through their network of over 50 insurance providers, Zensurance provides customers with industry-leading premium savings of up to 35% off and the confidence to thrive in today's market.

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