Insurance Brokerage at HUB InternationalInsurance Brokers

Earlier this year, the Government of Canada quietly pushed forward mandatory data-breach disclosure obligations for Canadian businesses. As of November 1, 2018, the mandatory data breach reporting and record keeping provisions of Canada’s Personal Information Protection and Electronic Documents Act (PIPEDA) will come into force.

What does this mean for your business? 

The mandatory record keeping provisions require organizations to:

• Keep records of any loss of, unauthorized access to, or unauthorized disclosure of, personal information, resulting from a breach of an organization’s security safeguards;

• Keep records of any loss of, unauthorized access to, or unauthorized disclosure of, personal information, resulting from a breach of an organization’s security safeguards;

• Notify individuals about privacy breaches if it would be reasonable to believe that the breach creates a “real risk of significant harm” to the affected individual;

• Report the breach to the Office of the Privacy Commissioner of Canada and others in certain circumstances.

Prior to November 1, 2018, businesses should take steps to ensure that they have determined how they will comply with the new rules and regulations.

What should your business do?

1. Determine your obligations under the new laws and regulations;

2. Review, update or develop policies and procedures to meet your new obligations, including: risk assessment; notification to individuals; reports to regulatory bodies; notices to third parties; and especially record keeping;

3. Review your incident response plan. It should have a clear framework to identify the steps your business will take when a breach occurs;

4. Identify outside specialists who can assist your business in preparing and responding to breaches;

5. Implement appropriate training and awareness programs for anyone in your organization that handles sensitive information on behalf of the organization;

6. Buy Cyber Liability Insurance

READ MORE HERE: Insurance Brokerage at HUB International 

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