Looming GDPR Fines To Spark Insurance Coverage Fights
By Allison Grande (November 9, 2018, 1:58 PM EST) -- Cyber policies are increasingly incorporating coverage for the hefty fines and liabilities that are likely to arise from the European Union's General Data Protection Regulation, but legal and regulatory pronouncements in vital jurisdictions may stymie these efforts and open the door for unprecedented coverage battles, experts say.
A wide range of businesses that interact with EU consumers had their risk profiles change dramatically on May 25, when the GDPR took effect and brought with it the potential for more intense regulatory scrutiny and fines of up to €20 million or 4 percent of a company's annual worldwide revenue, whichever is higher,...
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