Are Canadian Businesses Ready For a Cyber Attack?

On April 3, the Canadian Chamber of Commerce ("CCC") released a white paper titled "Cyber Security in Canada,"[1] (the "Report") which examines the current Canadian cyber landscape, the cyber readiness of Canadian businesses, the current state of cyber insurance, and also releases a set of recommendations for the Canadian government to consider regarding cyber security. 

"Cyber Security" Definition and Classification Systems. The white paper explains that "cyber security" is "the protection of computer systems from theft or damage to the hardware, software or the information on them, as well as from disruption or misdirection of the services they provide."[2] The Report states that the hierarchy of cyber targets is based on the data's value (defined by sensitivity and volume), and targets fall into four general categories: 1) national security, 2) critical infrastructure, 3) intellectual property, and 4) personal data. Similarly, the Report indicates that cyber