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ARTICLE · 19 SEPTEMBER 2019

Practical Primer For Insureds And Insurers On Cyber Law

Identify company's legal obligations under federal and provincial privacy laws, securities laws, and policies and guidelines set out by industry regulators

CanadaInsurance

Key takeaways for the insured

Consider industry standards and best practices

  • Identify company's legal obligations under federal and provincial privacy laws, securities laws, and policies and guidelines set out by industry regulators;
  • Develop and test an incident response plan;
  • Involve senior management, directors and officers, and legal counsel in creating the effective response plan for cybersecurity-related risks;
  • Train employees and educate staff so they are aware of their legal obligations;
  • Develop and enforce an information security policy; and
  • Participate in cybersecurity information sharing programs.

Determine your exposure

  • The most common attacks are social attacks (e.g., whaling), hacking and networking intrusions, and malware and end user attacks;
    • Social attacks are among the most common for senior business executives who have access to the company's funds; and

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About Dentons

Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries. www.dentons.com

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. Specific Questions relating to this article should be addressed directly to the author.

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