Canadian brokers now have access to a product capable of protecting the personal data of up to five million individuals per breach, in the shape of Beazley Breach Response (BBR) launched north of the border yesterday. BBR, the flagship product of data breach response insurance provider Beazley Group, has handled more than 3,300 data breaches since its 2009 launch.
Canadian companies which have suffered a data breach will soon be obligated to notify individuals affected, pursuant to Canada's Digital Privacy Act, passed last year,
“Beazley has an exceptional track record working with corporations in a wide range of industries in the US and Europe to mitigate and respond to data breaches,” said Beazley's International focus group leader for technology, media and business services, Paul Bantick. "We're excited to launch this offering in Canada, backed by a suite of top response providers."
According to the Beazley Breach Insights 2016 report released last month, the provider has seen a marked uptick in breaches caused by hacking and malware. Hacks involving ransomware alone have doubled year on year from 2015 to 2014.
“BBR addresses the growing data breach exposures all organizations face, and the potential impact on their business operations, reputation and financial standing,” says a company statement released accompanying the announcement. “Clients purchasing this coverage receive access to a suite of Beazley's breach response service partners who provide legal advice, computer forensics, notification, and call center services and credit monitoring for impacted individuals.”
