TruShield collaborates with Visa to help address cybersecurity risks facing small businesses

TruShield Insurance , a Canadian direct-to-consumer small business insurance provider, is working with Visa , a digital payments company. The collaboration gives eligible Visa business cardholders access to TruShield’s commercial insurance policies at a preferred rate and aims to help ensure their customers are more aware of cybersecurity threats and protected against them.

A study conducted by TruShield Insurance with Leger in November 2022 found that 46% of small businesses believed they faced little to no cybersecurity risks. When asked why cybersecurity was not considered a big risk, 48% of the 400 Canadian small businesses that were surveyed said it was because they were a very small business, and 32% said it was because they have never been targeted by a cyber-attack.

While cybersecurity can be perceived as something only needed by larger companies or those that have been exposed to cyberattacks in the past, every company – no matter the size – should be aware of the risks and take preventative measures. Not having adequate protection against cyberattacks could leave business owners at a disadvantage and, in the event of a major loss, susceptible to bankruptcy.

“We’re excited to launch our new collaboration with Visa to help protect more small businesses across the country. Having comprehensive business insurance with adequate cyber coverage can provide entrepreneurs with some much-needed peace of mind.” – Craig Hopkinson, Vice President of TruShield Insurance.

“Small businesses are the cornerstone of our economy. At Visa, we are passionate about creating solutions that help them focus on doing what they love – which is growing their business. We look forward to working with TruShield to provide owners with expanded services and resources that enable them to protect their business and thrive.” – Sarah Steele, Senior Director, Visa Commercial Solutions.