GDPR Fines May Be Uninsurable, Broker Warns
Law360, London (September 18, 2018, 3:20 PM BST) -- A leading international insurance broker on Tuesday cast doubt over whether the industry stands to reap new business from offering insurance against fines that firms must pay under Europe’s sweeping data protection regime.
Policyholders are being warned they should "assume nothing” about whether their insurance would cover penalties under the General Data Protection Regulation. (AP) Marsh Ltd. said in a report that policyholders “should assume nothing” about whether their insurance policy would cover penalties under the General Data Protection Regulation. The news could come as a blow to industry hopes for a new revenue stream arising from efforts by firms to...
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