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Effect of GDPR on Cyber Insurance

The new General Data Protection Regulations (GDPR) will apply from May 2018, just 10 months before the possible date for Brexit.

Due to recent events, the Government is stepping up the fight against cybercrime. One of the new measures planned is an update of the legislation that governs the holding and sharing of data.

Failure to follow notification rules may result in immense fines and risks damaging your business reputation. The guidelines have yet to be finalised and it's not clear who exactly it will affect, but the likelihood of suffering a breach and subsequent claims from aggrieved third parties may increase.

We are keeping a close eye on the legislation to ensure we are prepared to help our clients understand the implications and mitigate the additional risks. That’s why here at Eastwood & Partners, we offer a bespoke Cyber Insurance policy and are on hand to help where needed.

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Eastwood Insurance Brokers is a trading style of Eastwood and Partners Ltd, authorised and regulated by the Financial Conduct Authority. Registered office: Northumberland House, Northumberland Street, Huddersfield HD1 1DT. Registered in England and Wales company no. 2560460.

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