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

TORONTO, Feb. 13, 2024 /CNW/ - TruShield Insurance, Canada's first direct-to-consumer small business insurance provider, is proud to announce their new collaboration with Visa, a leader in digital payments. 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 per cent of small businesses believed they faced little to no cybersecurity risks. When asked why cybersecurity was not considered a big risk, 48 per cent of the 400 Canadian small businesses that were surveyed said it was because they were a very small business, and 32 per cent 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," said Craig Hopkinson, Vice President of TruShield Insurance. "Having comprehensive business insurance with adequate cyber coverage can provide entrepreneurs with some much-needed peace of mind."

"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," said Sarah Steele, Senior Director, Visa Commercial Solutions. "We look forward to working with TruShield to provide owners with expanded services and resources that enable them to protect their business and thrive."

TruShield provides tailored coverage for small businesses to help protect them against cyber-attacks, property damage, lawsuits, and more. With 24/7 Claims team support, risk management resources, and a Customer Perks program, TruShield aims to give small business owners the comprehensive protection they need.

Eligible Visa cardholders can get a quote online at: https://www.trushieldinsurance.ca/visa/

About TruShield Insurance

TruShield Insurance is a proud supporter of Canada's small business community. We are 100% Canadian and owned by Fairfax Financial Holdings Limited. We focus on serving Canadian small business owners, entrepreneurs, and startups. We provide affordable, flexible, and tailored insurance solutions for small businesses. Visit us online at https://www.trushieldinsurance.ca/ to learn more about our products and request a quote.

SOURCE TruShield Insurance

Ellen Brait, Manager, Content Marketing & Communications, TruShield Insurance, [email protected]; For partnership inquiries, please contact: Ian Foo, Director, Business Strategy & Development, TruShield Insurance, [email protected]