The new GDPR legislation results in increased costs to large and small companies to protect their clients' and business partners' data. In spite of taking all the measures, a system or human error may lead to a leak or destruction of controlled data. The company may thus face claims from clients or business partners, who incur damage, or even high sanctions from supervisory authorities. All the potential costs in connection with a data leak or destruction are covered by the new GDPR insurance.
GDPR insurance is intended for
All companies that work with personal and confidential data of their clients, business partners and employees.
- Sanctions imposed by a supervisory authority, such as the Office for Personal Data Protection.
- Actual/alleged unauthorised personal data handling.
- Actual/alleged unauthorised confidential data handling.
- Unauthorised disclosure of personal or confidential data by a company employee.
- Fault of a subcontracting company working with personal or confidential information.
- Destruction, distortion or damage to personal data in the computer system.
- Physical theft of IT equipment.
Reimbursement of costs
- Of legal consultancy in regulatory proceedings.
- Of sanctions imposed by supervisory activities, e.g. for unauthorised disclosure or publication of confidential information.
- Of preparing the notice of an actual or alleged unauthorised access to the system or a breach of personal data protection regulation to the supervisory authority or to the injured party.