A recent report from Statistics Canada shows more than one in five Canadian businesses experienced a cybersecurity incident last year but most went unreported. That’s about to change as new federal privacy legislation takes effect November 1st that will require companies to notify affected parties when an incident poses "a real risk of significant harm to individuals."

And not just any notice will do. Companies will be on the hook to provide customers, employees and vendors details such as a description of the circumstances surrounding the breach, the personal information involved, the steps the organization has taken to reduce the risk of harm that could result, and the list goes on.

With November fast approaching, I sat down with Terri Mason-Benjamin, AVP of Cyber and Professional Liability at CNA Insurance, to discuss how cyber insurance and effective communications can help organizations navigate this new territory in a way that minimizes risk and protects reputation.

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