The findings also showed that many of those surveyed were concerned that the pandemic has triggered a rise in cyberattacks against Canadian enterprises. According to the research, more than a third, or 36%, of businesses believe that the volume of cyber incidents has increased because of COVID-19, up 29% from when CIRA conducted the survey at the onset of the coronavirus outbreak in 2020.
“[In 2021, the] adoption of cybersecurity insurance is growing in parallel with the growing number of cyberattacks,” CIRA wrote in its analysis of the survey results. “At the same time, expenses are soaring due to hefty ransoms paid to hacker groups and massive fines paid to regulators policing the storage and transfer of personal information online.”
Read more: Top eight cybersecurity risks Canadians are facing