Federal Data Breach Regulations - Effective Nov. 1, 2018

Federal Data Breach Regulations - Effective Nov. 1, 2018

All businesses – big or small – are not immune to cyber risks and it is important that every business is prepared to follow the proper procedures to control these cyber-attacks.

November 1, 2018 is when Canada's federal Personal Information Protection and Electronic Documents Act (PIPEDA) will require organizations that suffer a data breach involving personal information to:

1. Report the breach to the Privacy Commissioner of Canada.
2. Give notice of the breach to affected individuals.
3. Maintain records of data breaches that affect personal information.

In order to avoid fines and penalties, organizations will need to understand PIPEDA and its basic requirements.  Some general preparations to consider include the following:

1. Ensure you are informed on all the new requirements.
2. Prepare for data breach scenarios.
3. Train your employees.
4. Update your internal processes.
5. Assess your data storage and response strategies.
6. Obtain the proper insurance coverage.

It's easy to get cyber insurance through Hubbard Insurance Group. We offer cyber coverage as an add-on to existing policies as well as stand alone cyber policies.

Source: Abex Insurance

 

Marijuana And Your Auto Insurance
The Future of Insurance