The combination is a perfect storm for businesses, particularly services businesses which are more reliant on processing personal data.
GDPR is relatively straightforward to comply with in the main. Please do contact us at www.rusaspeciality.com if your business could do with a few pointers. The hardest part with complying with GDPR is in the aftermath of such data breaches. The business must investigate, diagnose, recommend and advise and inform injured parties. This requires forensic IT skills and PR and communication muscle.
We strongly recommend that all service businesses consider purchasing £5,000,000 of Cyber Insurance. The packages not only come with the insurance cover, but with a package of services that help a business deal with and recover from a data loss and expert advice and assistance 24/7.
Covering for: Loss incurred by the insured in excess of the retention resulting from a data breach, security failure, or extortion threat that first occurs on or after the retroactive date and is discovered by the insured during the policy period. Loss means: a. breach costs; b. claim expenses, damages, and PCI fines and assessments because of a claim made against the insured; c. claim expenses and penalties because of a regulatory proceeding initiated against the insured; d. cyber extortion costs; e. business interruption cost Available to all our existing Broker Partners and all New Brokers wishing to become a Landmark Underwriting Partner, benefiting from all our future innovative new products, all still to come............................
Target Sectors: • Healthcare • Retail • Professional Services • Manufacturing • Media (ex E&O) • Publishers & Broadcasters (ex E&O) • Charities & Associations • Technology & telcos Sectors Considered: • Hospitality • Financial institutions • Insurance • Education • B2C Technology • Transport • Wholesale trade • Utilities • Gambling