GDPR fines were found to be insurable in only two of the countries reviewed Whilst the insurability of GDPR fines may be limited, insurance
GDPR Insurance: Coverage for Fines Hard to Find But Other Non-Compliance Costs Insurable. A “price of data security” guide by Aon and DLA Piper of the availability of insurance for General Data Protection Regulation (GDPR) infractions revealed that businesses are on their own in most countries.
When the GDPR goes into effect on May 25th, significant new obligations will be placed on companies doing business in the EU or with
Details on cyber liability insurance, GDPR protections, fines, liability, and what companies are/aren't covered for.
Therefore, in addition to taking steps to comply with GDPR, companies should be assessing their insurance program to determine whether their
GDPR Fines and Penalties: Insurability Will Vary by Location, Policy, and Law. Three months after enactment of the EU General Data Protection Regulation (GDPR), a primary question for many organizations is how the costs of compliance and non-compliance will interplay with their insurance policies.
Even companies that currently have cyber insurance may not have optimal coverage for the variety of exposures under GDPR.
The introduction of the GDPR will make a significant impact on the insurance industry, both within and outside Europe. The good news is that
Even companies that currently have cyber insurance in place may not have optimal coverage for the wide variety of exposures under the GDPR.
We strongly suggest that your due diligence include a review of your insurance coverage for GDPR non-compliance, especially for fines,