Canadian businesses are facing ever-increasing risks and costs of privacy breaches that can expose sensitive customer data. The risks are everywhere—arising both from inside and outside of businesses—ranging from employee negligence to third party vendor breaches and cyber hacks.
In response to the growing need for Canadian businesses to protect against the reputational risks and financial burden of privacy breaches, The Guarantee Company of North America (The Guarantee) has partnered with CyberScout, North America’s premier identity management and data risk management services provider, to deliver proactive and reactive privacy breach services and tools to all Corporate Insurance Policyholders. These services, which include education and training, are designed for businesses that manage, store, share data of all kinds – customer, credit, patient, and more.
According to a recent survey cyber threats are the top business risk concern for executives. Eighty percent of the executives and insurance brokers polled said they find it difficult to keep pace with changing cyber threats, leaving their companies exposed to a privacy breach, financial loss, and reputational risk.
"There doesn't seem to be a week that goes by that you do not read about a new case of corporate hacking, data theft or security breach,” said Alister Campbell, CEO, The Guarantee. “That's why I am very excited to partner with CyberScout to offer both pro-active and reactive breach services to all of our Corporate Insurance policyholders. This is an area of growing exposure for corporations and particularly for members of Boards of Directors. As our customers’ insurance partner we are pleased to be in a position to offer this valuable additional benefit to enhance protection and the value of our partnership.”
The privacy breach services provided to The Guarantee’s policyholders include:
• An online breach website featuring exclusive resources to help business owners recognize data risks, as well as federal and provincial compliance laws and their notification requirements
- Access to CyberScout's online training tools to help businesses better understand privacy risks and manage their data liabilities
- Proactive, on-call professional assistance to help companies enhance their data privacy procedures
- Response services to assist breach victims and help them avoid identity theft and fraud
- Project Management services that will help mitigate the total costs that might be incurred as a result of a privacy breach
"Having been a victim of identity theft, I know firsthand how sensitive personal information can be,” said Glenn Woodard, National Vice President, The Guarantee. “Corporate Insurance clients possess varying degrees of personal information and the services provided by CyberScout can help prevent and mitigate potential reputation and financial risk.”
"With our support, The Guarantee provides Canadian companies with around-the-clock access to experts well versed in best practices for data storage, retention and protection, Canadian privacy and regulatory requirements, and privacy breach crisis management,” said Nate Spurrier, Canadian director, CyberScout. “We’re excited The Guarantee has chosen us as their partner to help corporate insurance policyholders safeguard their private information.”
To learn more about The Guarantee’s privacy breach services, please contact your insurance broker.
For more information, please contact CyberScout PR Manager Kelly Santos at media@CyberScout.com.
