CyRisk Inc. Enhances Privacy Risk Insights Platformtm with Canadian Privacy Laws for Insurance Industry

Leading AI-Driven Cybersecurity Platform Expands Coverage to Address Global Privacy Compliance

OTTSVILLE, Pa., March 18, 2024 /PRNewswire-PRWeb/ -- CyRisk Inc., the industry leader in AI-driven privacy and cybersecurity risk analysis for insurance companies and their policyholders, is pleased to announce a significant enhancement to its flagship product, the CyRisk Privacy Risk Insights Platformtm. This expansion includes the integration of Canada's current privacy laws into the platform's robust ontology and taxonomy, empowering organizations worldwide to proactively manage privacy and security risks.

As personal data proliferates and cyber threats escalate, businesses face mounting challenges in safeguarding sensitive information. CyRisk's Privacy Risk Insights Platformtm has been instrumental in helping policyholder organizations and their insurers detect, assess, and mitigate privacy and security risks. Now, with the inclusion of Canada's privacy regulations, CyRisk reaffirms its commitment to global privacy compliance.

Key Features of the Enhanced Platform:

Canada's Privacy Laws: The CyRisk Privacy Risk Insights Platformtm now incorporates the intricacies of Canada's privacy landscape. Organizations operating in or with ties to Canada can confidently navigate compliance requirements, ensuring adherence to these key regulations:

• Personal Information Protection and Electronic Documents Act (PIPEDA): A comprehensive federal law governing the collection, use, and disclosure of personal information by private-sector organizations in Canada.
• Ontario's Personal Health Information Protection Act: Safeguarding personal health information in Ontario.
• Alberta and British Columbia's Personal Information Protection Acts (PIPA): Provincial legislation that outlines rules for handling personal information within these provinces.
• Quebec's Act Respecting the Protection of Personal Information in the Private Sector: Quebec's unique framework for privacy protection in the private sector.
• Newfoundland and Labrador, and Nova Scotia's Health Information Acts: Legislation specifically addressing health-related information privacy.
• New Brunswick's Personal Health Information Privacy and Access Act: Legislation ensuring privacy rights related to health information.

Holistic Risk Reduction: By seamlessly integrating privacy and security risk assessments, the platform provides a comprehensive view of an organization's risk posture. This holistic approach enables efficient risk reduction strategies, minimizing exposure to potential breaches.

Global Reach: CyRisk's expansion to include Canada's privacy regulations signifies a pivotal milestone. With clients spanning continents, this enhancement reinforces our commitment to serving a diverse and global client base.

"As awareness of the importance of privacy regulatory compliance requirements has grown in Canada and around the world, CyRisk's move to incorporate Canadian privacy regulations marks an important milestone in our expansion," said Ben Goodman, CyRisk CEO and founder. "Our mission is to drive down loss ratios by empowering organizations around the world with the tools they need to proactively manage privacy and security risks on a single platform, while fostering trust with their stakeholders."

About CyRisk Inc.:

Since its inception in 2018, CyRisk has been at the forefront of privacy and cybersecurity innovation. Our platform has assisted hundreds of thousands of policyholder organizations in reducing cyber risks, resulting in improved loss ratios for insurers. We remain committed to advancing privacy and security practices globally.

For media inquiries, please contact:

Kevin Lackey, Director of Communications, CyRisk Inc. Email: [email protected]

SOURCE CyRisk