What is GDPR?
The EU General Data Protection Regulation, imposing strict data protection requirements and penalties up to 4% of global revenue.
GDPR
The EU General Data Protection Regulation, imposing strict data protection requirements and penalties up to 4% of global revenue.
How it works in practice
A data breach at a European retailer exposes the personal records of 5 million customers. The national data protection authority investigates and levies a GDPR fine of 3% of the company's global annual revenue. The retailer's cyber insurance policy covers both third-party breach response costs and regulatory fines, adding the penalty to the overall insured loss from the incident.
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