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www.canadianlawyermag.com 45 PR expenses to credit monitoring, ransom payments for any ransomware, and business interruption costs. Getting cybersecurity insurance doesn't replace the need to invest in new systems. Even if there's a data breach, organizations can expect to pay out-of-pocket costs to update their technology. "It's important to remember cybersecurity insurance is meant to bring you back to the begin- ning, not to upgrade your tech," says Ahmad. "If you have a sedan, you don't get an SUV." The due diligence involves managing cybersecurity insurance, reviewing contracts, and ensuring employees have the proper training. What used to be a few lines in contracts can make up two to three pages covering where data is stored, how it's used, and notice periods for any breaches. That means extra time and effort to review contracts and incorporate third parties into incident response plans. Mousavi and his team have procedures for dealing with different issues ranging from third parties wanting to notify customers directly about a data breach to knowing who needs to be informed first. It's part of the growing necessary work in-house counsel must do to manage data security. "You should build relationships in your organization and understand how your data systems work," says Mousavi. "You have to do your due diligence so you can manage the risk." "Take a privacy-by-design approach where your systems are transparent, and people are able to see how the data is being used" Helen Deschamps Marquis, Deloitte Legal Canada 1.800.323.3781 • pallettvalo.com For Legal Services The Right Fit Matters We give you what you need, not what you don't. With our flexibility and the right expertise across a wide variety of business law areas, we provide a customized legal solution for you and your business – all without compromising excellence in service or advice. For legal representation that's the right fit for you, try our Right-sized Thinking®. Y E A R S