Technology companies rush for cyber cover in European Union's GDPR regime

Crisis communication, non-breach related fines top management concerns

The European Union’s (EU) General Data Protection Regulation (GDPR) may have increased the complexity level of businesses operating in the EU, but it has certainly brought more business for insurance companies as technology and data centric firms turn to them for cover. 

Contractual obligations to clients remain the prime reason for companies for GDPR-ready policy covers.

“Companies are really trying to understand what changes for them when they process data for an EU based company or they process data for a global company using EU citizen data, and how does it affect their liability? Also, data breaches are a serious