In a recent presentation, the need to be sure your general liability insurance matches GDPR risks was emphasized. There is no standard form or model for the industry that informs those who write commercial coverage. That is likely to come as we advance into the world of GDPR, and of its spread throughout the world.
In the meantime, ask your insurance gurus to carefully review the exclusions in your current liability coverage for cyber events. In addition, confirm if there is coverage in place for these matters: privacy regulator actions, privacy breaches, violations of privacy laws and regulations, fines & penalties, the necessary $ limits.
Coverage will likely also affect and promote certain processes and activities. Think of these as underwriting strictures that allow the insurer to judge the risk according to how much diligence is being applied to GDPR risk related activities. For example, DPIA results and actions to cure shortcomings.
A good time to call your insurance broker and complete this step in GDPR management.
No comments:
Post a Comment