GDPR Is Finally Here: It’s Time to Make Sure Your Current Cyber Policy Will Protect against New Financial Exposures

Linda Kornfeld

The General Data Protection Regulation (“GDPR”) goes effective tomorrow. Companies are considering the consequences and attempting to determine whether they are compliant or how to get there, whatever “compliant” ultimately will be determined to mean as time progresses under GDPR. In considering the consequences of failure to comply, companies are, or should, also be thinking about whether they can transfer risk, including to insurance, and whether their current insurance policies will do the trick. Many companies now have cyber insurance, but cannot presume that their current cyber policy will protect against GDPR exposures. So, as we welcome in GDPR, the internal corporate conversation should include discussion of whether existing cyber policies are enough, or what needs to be done to fortify insurance protection against unknown future GDPR financial exposures.

Things to consider now: Continue reading “GDPR Is Finally Here: It’s Time to Make Sure Your Current Cyber Policy Will Protect against New Financial Exposures”