ICMIF member Desjardins Insurance (Canada) has launched CyberSuite Plus, an enhanced insurance solution designed to help small and medium-sized enterprises (SMEs) manage growing cybersecurity and fraud risks.

With digital threats on the rise, Desjardins says this new product responds to a pressing need among businesses that often lack dedicated cybersecurity resources. According to Statistics Canada, nearly one in six Canadian businesses (16%) experienced a cybersecurity incident in 2023, with the figure reaching 30% for large companies.

“At Desjardins, we’re committed to helping businesses grow and be resilient. Not all SMEs have specialized cybersecurity teams or advanced protection tools, so CyberSuite Plus meets a real need. Our solution is designed for today’s environment. It’s straightforward and accessible, so that businesses can focus on what they do best,” said Valérie Lavoie, President and Chief Operating Officer of Desjardins Insurance and also a member of ICMIF’s Board of Directors.

CyberSuite Plus provides comprehensive coverage for incidents such as data breaches, cyber extortion, privacy breaches, IT fraud and identity restoration. Beyond insurance protection, the offer includes prevention and education resources to help businesses strengthen their cyber defences.

While insurance cannot prevent cyber-attacks, it can play a key role in helping businesses recover more quickly and limit financial losses. With CyberSuite Plus, cooperative insurer Desjardins says it aims to simplify the process of responding to incidents and getting back to business.

Cybersecurity has become one of the top concerns for businesses undergoing digital transformation, and Desjardins says this new offer is a natural extension of the cooperative’s commitment to supporting enterprises at every stage of their growth.

Desjardins’ initiative demonstrates how mutual and cooperative insurers continue to innovate to meet the evolving needs of their communities while promoting resilience, trust and sustainable development.