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Your Business Implemented a Contact Tracing Strategy, but How Does It Affect Your Insurance?

Since the beginning of the pandemic, contact tracing has proven to be one of the most effective ways in stopping the spread of the corona-virus. However, how can local businesses and organizations make sure they are doing everything that they can in order to ensure proper contact tracing methods are in place, and how does this impact your business?

The truth is, implementing a contact tracing strategy can come with some unforeseen risks related to information privacy, cyber security, and ultimately the overall health and safety of your employees. Here’s how:

Information Privacy

Documenting names, phone numbers, and email addresses is the most common baseline strategy for any contact tracing system. Whether you plan to store your documents on-hand, or online – it is important to make sure that you have a proper privacy policy in place. Information leaks are always possible, and cyber attacks can occur resulting in costly cyber-crime damages.

Ensure that you are storing your information in a safe and secure manner. Not only will this help in the event of a cyber attack or information leak, it will also give you the peace of mind that you deserve knowing that your business is protected.

Cyber Security

According to a CIRA survey in 2019, 71 percent of organizations in Canada had experienced a cyber attack of some kind that resulted in a direct financial loss.

In relation, 43 per cent of respondents were unaware of the mandatory breach requirements of PIPEDA (Personal Information Protection and Electronic Documents Act) – resulting in a many of these cyber attacks occurring unnoticed.

PIPEDA governs how organizations collect and store data, and it is important to be aware of the laws and regulations that pertain to your business’ data collection policies, as well as maintain proper Cyber Security coverage in the event of a cyber attack.

Health and Safety

Having a comprehensive contact tracing strategy that accounts for PIPEDA laws and regulations is the best way to protect your business, but most importantly the health and safety of your employees. 

Utilizing tools such as the COVID Alert: Canada’s Exposure Notification App is a great way of kick-starting your contact tracing strategy. These apps will allow your employees to help reassure others at work and visiting clients that they are COVID-19 negative, allowing everyone to maintain a safe environment while at work.

Other great tools for employers include:

Conclusion

Now more than ever, it is important to stay diligent when it comes to protecting the health and safety of not only Canadian businesses, but the hard working employees that make everything possible. We encourage business owners to take a second look at their current COVID-19 action plans to make sure that their information is being handled securely and safely.

If you have any questions regarding Cyber Insurance, or would like to talk about any other ways that we can help protect your Business during COVID-19, let us know by reaching us at 807-343-9444 or send us a message at insure@jonesins.com.

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