Keep your digital worlds protected with Cyber Coverage

Online cybercrime is a growing threat

Today, virtually all Canadians face cyber threats. From phishing, to fraud, and identity theft—with many suffering real financial loss. According to Stats Canada, 70% of Canadians aged 15 and older experienced a cybersecurity incident in 2022. In some cases, the financial impact can be significant, with police‑reported fraud cases on the increase every year and over $704 million in losses for Canadians according to The Canadian Anti-Fraud Centre (CAFC) in 2025. Not to mention the threat of data breaches with over 27,000 breaches in Canada, equivalent to 75 per day according to CAFC’s 2025 report.

These incidents are a stressful reminder that if you’re online (like most of us are), you could be a target of cybercrime. On the bright side, there are ways to protect yourself and help is available if something goes wrong.

Four common cybercrimes to watch for

Here are some of the most common cyber threats that BCAA’s Cyber Coverage can offer protection against:

Online shopping and marketplace scams

Fraudsters can create fake online stores, listings, rental ads and marketplace profiles to trick you into paying for items or services that never arrive. If you want added protection, always transact on sites where your transaction is managed by a marketplace operator, rather than the seller (like Amazon or Task Marketplace).

Identity theft

This happens when a bad actor illegally gathers your personal information (e.g., name, birth date, address, social insurance number) and uses your identity to commit fraud, like opening credit cards in your name or hiding behind your name in a legal matter, resulting in a fake criminal record.

Phishing

A phishing attack uses fake emails, text messages, or social media — often posing as a reputable company — to trick you into handing over your sensitive information, like passwords or credit card numbers, or downloading malicious files. This is a common scam, and often leads to identity theft cases, data loss and malware infections.

Malware

Short for malicious software, malware includes viruses, ransomware, and spyware, all designed to mess with your computer, shut down your laptop, or brazenly steal your data.

How to reduce your risk

Although there are products available to protect you from cybercrimes, prevention is still crucial. Here are a few simple things you can do to reduce the likelihood of getting sideswiped by a cyberattack:

• Set up multi-factor authentication on your online accounts: Multi-factor authentication reduces your risk of being hacked by more than 90%, according to Microsoft and Google. It’s one of the easiest and most effective ways to protect your digital life — especially when paired with strong passwords and regular security checkups.
• Always be updating: Install software updates the moment they’re available to you
• Make your password unique: Use long and unique passwords with letters, numbers, capitalization and symbols for each login and change them often
• Set up a firewall on your network: Make sure your Wi-Fi router has a firewall and encrypts your Wi-Fi
• Parallel networks: Create separate Wi-Fi networks for your phones/computers and your smart home devices (like smart thermostats, lights, video doorbells, cameras, fridges, and smart home security systems). This helps limit cyberattack access if one network gets compromised.

24/7 Assistance with Specialists

Get access to 24/7 phone support with specialists to help you navigate the complexities of cybercrimes. Whether you suspect or are certain you're a victim, they'll guide you through proactive steps you can take to protect yourself to try and prevent your exposure turning into a bigger event.

These calls aim to reduce your exposure to a cybercrime, but in the event of a claim, you'll have $25,000 of annual protection for things like:

Identity theft

If your identity gets stolen, you’ll be reimbursed for debts and expenses like legal fees while you recover and rebuild your identity.

Online fraud

Get protection against financial losses caused by phishing scams, illegal bank transfers, hacking, and data breaches.

Home system compromise

If your smart TV or device gets hacked, we’ll help you with repairs or replacements to the device and support with data recovery and restoration.

Online shopping fraud

When you’re buying or selling online, we’ll protect you from scams and fraudsters in digital marketplaces.

Extortion

If you’re threatened online and ordered to pay money to stop a harmful act, get coverage for certain extortion-related expenses.

Cyberbullying

We offer coverage for counselling, temporary relocation, wages and professional security, related to cyberbullying events.

Get peace of mind by adding Cyber Coverage today

Want an added layer of online protection with Cyber Coverage? You can easily add it to your BCAA Home Insurance policy for $60/year.

If you’re already a customer, speak to one of our trusted advisors over the phone or at your local BCAA Service Location about adding Cyber Coverage. Or if you are a new customer you can simply add it when you get a quote. Bonus: BCAA Members save an immediate 10% on BCAA Home Insurance, plus an additional 5% when you buy online. 

Let’s all stay safe online!