Beazley, the parent company of specialist insurance businesses, has launched the company's flagship Beazley Breach Response (BBR) product in Canada.
The product protects the personal data of up to five million individuals per breach.
Canada's Digital Privacy Act, passed in 2015, will soon impose additional obligations on companies to notify individuals when their data has been breached. The Canadian regulations will impose more stringent reporting obligations, similar to those already in place in the US and soon to be implemented in the EU.
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 centre services and credit monitoring for impacted individuals.
"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 Paul Bantick, Beazley's international focus group leader for technology, media and business services.
He added: "We're excited to launch this offering in Canada, backed by a suite of top response providers."
In Beazley’s Breach Insights 2016 report released earlier this month, the company observed a sharp increase in breaches caused by hacking and malware, with hacks involving ransomware doubling in 2015 compared to 2014.
Beazley, Breach response, Insurance, Canada