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Inside Internal Controls

News and discussion on implementing risk management

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insurance policies

Cyber-insurance: What you need to know?

A question that I often get from clients is one about cyber-insurance. In light of the recent passing of Bill S-4, better known as the Digital Privacy Act, the Personal Information Protection and Electronic Act has now been amended to include mandatory breach notification provisions. While these mandatory breach notification provisions are not yet in force, it is a good time to review your cyber-insurance coverage.

 

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Protecting your business from legal risks: a brief overview

For any business owner comes the responsibility to protect your assets and the reputation of your business. As you may know, reputation is everything when it comes to generating new clientele and keeping your existing clients. The implications to a business because of false or legitimate claims can be significant and in some cases can cause it to close entirely. Protecting your business and reputation from any such claims therefore needs to be considered at the planning stage, and regularly reviewed.

 

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Minimizing risk by having the proper insurance coverage and risk management practices

You can purchase business insurance for nearly every operation and risk your business faces. However, navigating the particularities of insuring your organization can seem daunting. Investing in insurance coverage is a necessary part of operating a sound business, whether your organization is for profit or not.

 

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