The Price of Data Security: A Guide to the Insurability of GDPR Fines across Europe

The General Data Protection Regulation (EU) 2016/679 (GDPR), effective from 25 May 2018, revolutionises the data protection regime and significantly affects how organisations worldwide collect, use, manage, protect, and share personal data that comes into their possession.

As personal data increasingly represents an important new class of economic asset for organisations, GDPR has significantly increased the enforcement powers available to regulators. GDPR fines can reach up to €20 million, or up to 4% of a group’s annual global turnover if higher

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Cyber security services offered by Stroz Friedberg Inc. and its affiliates. Insurance products and services offered by Aon Risk Insurance Services West, Inc., Aon Risk Services Central, Inc., Aon Risk Services Northeast, Inc., Aon Risk Services Southwest, Inc., and Aon Risk Services, Inc. of Florida and their licensed affiliates. Aon UK Limited is authorised and regulated by the Financial Conduct Authority in respect of insurance distribution services. FP.AGRC.238.JJ The following products or services are not regulated by the Financial Conduct Authority:
• Cyber risk services provided by Aon UK Limited and its affiliates
• Cyber security services provided by Stroz Friedberg Limited and its affiliates.

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