How To Protect Your Financial or Insurance Firm From Cyber Attacks In 2025

When I'm speaking at events, business owners will frequently come up to me after and say something like "How do I actually protect my business from a cyber attack without breaking the bank?"

The first thing I tell them is don't try to do it yourself. I've never seen a DIY solution that was thrown together in a one-and -done way be effective against the advanced threats we're seeing nowadays. Truly effective protection needs to be carefully designed and set up, and then actively monitored to (a) make sure it's working at all and (b)

That said, as a business leader you should be involved in the project and take the lead, because after all, you know the business better than outsider ever could.

1. What Are You Protecting?

   Before you can protect anything, you first need to know what you have that needs protecting, so that's where I always start. I ask questions about what kinds of data a firm might be collecting, processing and storing.

   
   

   Here are some examples:

   • Client details - names, addresses, phone numbers, SIN numbers, financial and investment details, and other highly confidential data

   • Company financial records -

   • Employee data - names, addresses, SIN numbers

2. Train Your Team (They're Your First Line of Defence)

   Most cyber-attacks today start with some type of social engineering using methods like email, voicemail, text, or social media.

   
   

   Regular cybersecurity awareness training helps your team recognize threats like:

   • Phishing emails pretending to be from banks or clients

   • “Urgent” requests from fake executives

   • Suspicious links on social media

   
   

   A well-trained team is your best human firewall.

3. Use Strong, Layered Security Tools

   Cybersecurity isn’t one tool — it’s a combination of tools working together:

   • Business-grade antivirus & endpoint protection

   • Multi-factor authentication (MFA)

   • Email filtering and spam protection

   • A managed firewall

   • Data backups (preferably offsite and encrypted)

   
   

   And these tools should be managed and monitored — either internally or by a trusted IT partner.

4. Have a Written Response Plan in Place

   If a cyberattack hit your business today, what would you do in the first 15 minutes?

   You need a written Cyber Incident Response Plan (CIRP) that answers:

   • Who do we call?

   • What do we shut down or isolate?

   • How do we notify staff, clients, or regulators?

   
   

   Planning ahead makes all the difference in limiting damage and downtime.

   
   

5. Consider a Cybersecurity Risk Assessment

   You can’t fix what you can’t see. A cybersecurity assessment will identify:

   • Gaps in your protection

   • Outdated systems

   • Overlooked risks (like vendors or shadow IT)

   • Compliance risks (especially for industries handling personal info)

   Many IT providers (like us) offer these assessments — often as a complimentary service.

   
   

6. Don’t Rely on “It Won’t Happen to Me”

   The average cost of a small business data breach in Canada is over $200,000. And beyond the money, a cyber incident can destroy client trust and paralyze your operations.

   
   

   Cybersecurity isn’t a luxury anymore — it’s business hygiene.

Final Thoughts

You don’t need to understand every detail of how a cyberattack works — just like you don’t need to be a mechanic to drive a car. But you do need a strategy, the right protections, and an experienced partner.

If you’d like to take the first step, consider booking a free Cyber Risk Assessment with our team.

We’ll help you understand your risks — and what to do about them — without any jargon.