Lloyd's Says It's Eyeing Cyber Windfall Thanks To GDPR

Law360, London (May 16, 2018, 6:18 PM BST) -- Lloyd's of London is ready for the formidable European Union data protection rules that go live next week and is anticipating a surge of business as companies rush to buy cyber insurance, the market's chief executive told Law360 in an exclusive interview on Wednesday.

Lloyd's underwriters have been preparing for months to comply with the General Data Protection Regulation, chief executive Inga Beale said, and they have embedded the rules into the extensive modernization that has been taking place at the corporation.

"There's a pretty good understanding across the market," she said. "We haven't done our own assessment at the moment...

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