Cyber security software-as-a-service (SaaS) company CyberCatch has announced a strategic partnership with Ridge Canada Cyber Solutions Inc. (RCCS) to enable Canadian small and medium organisations (SMOs) to obtain cyber insurance.
Approximately, there are 1.2 million SMOs in Canada and the majority of them do not have cyber insurance, or those that do are having difficulty renewing due to the increased level of cyber risk posed to them in today’s environment and the risk transfer impact to the insurance providers due to lack of required controls.
However, to mitigate cyber risk, CAN/CIOSC 104, Canada’s National Standard for Baseline Cyber Security Controls for SMOs prescribes implementing up to 55 cyber security controls. It was published by Canada’s CIO Strategy Council with the support of Canada’s Ministry of Innovation, Science and Economic Development (ISED).
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