AI cyberattacks increasingly target Canadian small businesses

Canadian small businesses are facing an increasing threat from AI-powered cyberattacks. According to a Zensurance survey, 53% of 1,000 Canadian small business owners experienced a cyberattack in 2025, with 46% specifically targeted by phishing attacks. Additionally, data from the Canadian Internet Registration indicates that 43% of Canadian organizations were targeted by cyberattacks within the last 12 months.

Cyber insurance policies are designed to respond to the outcomes of these attacks, such as ransomware demands, data breaches, or fraudulent fund transfers, regardless of whether AI tools were used to execute them. Experts emphasize the importance of ensuring specific policy coverage matches the nature of the threat to avoid significant financial losses.