5 Top Cyber Liability Risks for Québec Businesses in 2025
As Québec SMEs ramp up digital transformation, having robust cyber liability insurance in Québec is no longer optional. Ransomware incidents jumped 48 percent in Canada in 2024¹ and credential attacks rose by 42 percent². Here are the five critical threats to tackle now—and how Assurances Simon can help.
1. Ransomware‑as‑a‑Service (RaaS) and Big‑Game Hunting
RaaS platforms let low‑skill hackers deploy military‑grade encryption, demanding multi‑million‑dollar ransoms from healthcare, critical infrastructure and large enterprises³. Recent Québec cases forced mandatory breach notifications under Québec Law 25 and caused days‑long outages.
Key Actions:
– Test immutable backups quarterly
– Maintain an incident‑response retainer for forensic experts
– Confirm your policy includes extortion, business interruption and ransom‑payment cover
Learn More: Cyber Liability Insurance | Canadian Centre for Cyber Security
2. Credential Stuffing and Automated Scanning
At over 36 000 scans per second⁴, attackers hunt exposed RDP ports and weak VPNs. Dark‑web leaks fuel a 42 percent surge in log‑in attacks, often weeks before malware strikes.
Key Actions:
– Enforce MFA on all cloud and remote‑access services
– Add dark‑web monitoring endorsements
– Train staff on phishing and social‑engineering with policy‑backed loss coverage
3. IoT Exposure in Hybrid‑Work Environments
Smart cameras, printers and home routers can be backdoors into corporate networks. Québec’s professional‑services firms and retailers, reliant on IoT, are especially vulnerable when home‑office networks lack enterprise‑grade security.
Key Actions:
– Conduct quarterly IoT risk assessments
– Segment corporate and IoT networks
– Review Technology E&O extensions for IoT failures
4. Supply‑Chain Cyber‑Risk and Contingent BI Cover
More than 1 300 supply‑chain risk assessments were ordered by Canadian organizations in 2024⁵, highlighting vendor‑driven knock‑on effects. One breached supplier can trigger liability claims and lost revenue downstream.
Key Actions:
– Confirm your supply‑chain endorsement covers partner incidents
– Require vendor‑risk questionnaires as coverage condition
– Extend BI protection to include contingent supplier outages
5. Québec Law 25 Compliance and Privacy Liability
Since September 2024, Law 25 mandates CAI notification for any breach posing “risk of serious injury.” Fines reach up to CAD 25 million plus PR fallout⁶—even minor leaks demand a legal, technical and communications response.
Key Actions:
– Update breach‑notification playbooks with CAI templates
– Verify your policy covers regulatory‑defense costs and PR crises
– Align limits with Québec’s penalty framework
Next Steps: Build Your Cyber Resilience Today
- Risk Assessment: Map exposures across ransomware, credentials, IoT, third parties and privacy.
- Policy Audit: Work with Assurances Simon to ensure your cyber liability insurance Québec package has the right endorsements and limits.
- Ongoing Training & Testing: Combine technical safeguards with staff drills and tabletop exercises.
Contact Us: 514- 881‑8885 | assurances-simon.com/en/contact-us
¹ Ransomware incidents in Canada grew 48 percent in 2024 (Canadian Centre for Cyber Security)
² Credential‑stuffing attacks surged 42 percent globally in 2024 (Dark Reading)
³ “Big‑Game Hunting” RaaS campaigns accounted for 70 percent of ransom demands in 2024 (Cybersecurity Ventures)
⁴ Automated network scanning reached 36 000 scans/sec in H1 2025 (SANS Institute)
⁵ Over 1 300 supply‑chain risk assessments in Canada, 2024–25 (RiskRecon)
⁶ Québec Law 25 fines up to CAD 25 M for privacy breaches (Commission d’accès à l’information)
