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Release of Information Security Incident Reporting Guideline for Extraprovincial Insurance Corporations and Extraprovincial Trust Corporations
BCFSA has released a new Information Security Incident Reporting Guideline for Extraprovincial Insurance Corporations and Extraprovincial Trust Corporations (“Guideline”).
As digital technology continues to transform the financial services sector, the risk of information security incidents that could compromise critical services or sensitive information is increasing. To safeguard B.C.’s citizens and economy, BCFSA is introducing this Guideline to ensure timely reporting of material security incidents that impact British Columbians.
The Guideline outlines expectations for insurance corporations and trust corporations authorized to conduct business in B.C. but incorporated federally or in other provinces, regarding the reporting of material information security incidents, including cybersecurity threats. The Guideline will come into effect on January 1, 2026.
