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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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