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Are you prepared for the Digital Privacy Act changes?

For Canadian organizations, as well as organizations doing business in Canada, a dramatic shift to privacy and cyber security regulations is looming. The amendment to Canada’s Personal Information Protection and Electronic Document Act (PIPEDA), the federal privacy law for private-sector organizations, is expected to take effect in late 2017.

Under this amendment, also known as The Digital Privacy Act, organizations that experience a data breach but neglect their responsibilities as outlined in this act could quickly find themselves in hot water with regulators and customers alike, not to mention facing steep fines.

If you aren’t up to date on what’s happening with PIPEDA and The Digital Privacy Act, this article highlights the implications of the new regulations on businesses. Then ask your broker or insurance company agent about cyber insurance to determine if your risks are being properly managed.