A study from commercial insurer Aon examined the effects Canada’s new data breach notification law could have on small- and medium-sized businesses, the Canadian Underwriter reports. The study states those businesses may have to pay “crippling compliance costs,” as well as monitor the actions of third parties. “For organizations without appropriate cyber liability cover in place, responding to such a breach could be financially crippling,” the study finds. Aon recommends any small- or medium-sized business that suffers a data breach to hire an experienced public relations firm to handle the fallout rather than make any attempts on their own to minimize the damage.
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