Desjardins Insurance has introduced CyberSuite Plus, a new insurance solution aimed at helping small and medium-sized enterprises (SMEs) manage rising cybersecurity and fraud risks.
The launch comes amid growing concern over digital vulnerabilities. Statistics Canada reported that nearly one in six Canadian businesses experienced a cybersecurity incident in 2023, climbing to 30% among large organizations. The figures underscore a growing exposure as more firms adopt digital operations and integrate emerging technologies.
CyberSuite Plus is designed to provide both financial protection and practical support. The product includes coverage for cyberattacks, data and privacy breaches, identity theft, cyber extortion and IT-related fraud. It also offers businesses access to prevention resources and educational tools to strengthen cyber resilience.
Desjardins said the product addresses a gap among smaller firms that may lack dedicated cybersecurity teams or advanced protection systems. Company president and COO Valérie Lavoie said the solution was developed to be “straightforward and accessible,” enabling businesses to concentrate on operations while remaining protected from digital threats.
While insurance cannot stop a cyberattack, Desjardins noted it can help companies manage the financial and operational fallout of an incident. The product aims to reduce recovery costs and downtime following a breach, providing businesses with structured guidance through incident response and restoration.
Cyber insurance has become a key component of corporate risk strategies in Canada as threat actors increasingly target SMEs, which often have weaker defences than larger firms. Industry analysts have noted rising demand for policies that blend traditional insurance protection with pre- and post-incident services such as cyber risk assessments, training, and digital forensics.
For Desjardins, CyberSuite Plus extends its broader business insurance portfolio by aligning coverage with current digital risks. The insurer said it intends the product to support clients’ overall resilience and continuity planning as cyber exposure becomes an embedded part of operational risk.
