Last week's Portage la Prairie Mutual Insurance Company's AGM discussed the issue of cyber security.

President and CEO John Mitchell touched on the problem during his remarks, and says it's something that's an issue around the world. He says Portage Mutual has to be prepared for a cyber attack.

"There are a number people that believe everybody will be hit with a cyber attack. It's just a question of when, and how prepared are you to deal with it. So we're investing heavily to make that we put up firewalls to reduce effect, and then afterward, as well, to build plans that if it does happen, what are we going to invoke for a strategy."

Mitchell stresses Portage Mutual's taking vigorous action to protect themselves.

"We work with best-in-class companies, we put the best solutions that we believe can be put in place. We constantly monitor it, and we constantly update it. But you're right, they are very vigilant, and they're very determined."

He acknowledges the company's considering some form of underwriting for cyber crime.

"It's a risk that we have to help mitigate. But I also think it's probably a risk that's going to be wide-spread, and it's going to be part of our culture for a long time. And much like other risks that individuals have to try, to lessen their burden, we'll be there to help them, but we don't see assuming the entire risk."