Aon and DLA Piper released a “price of data security” report on where GDPR’s fines are generally insurable. According to the guide, only Finland and Norway allow insurance for this type of fines. In 20 out of 30 jurisdictions, GDPR fines do not seem insurable (like in UK, France, Italy and Spain), and in the rest, the situation is not clear and may depend on the instance.
Attention: we are talking here of “GDPR fines’, i.e. of the penalties that data protections authorities can issue against non compliant organizations pursuant to Article 83. Different from fines are damages (For damages under the GDPR see: A closer look to damages under the GDPR here.)
For more information on this and for advice on GDPR implementation, contact Francesca Giannoni-Crystal. Thanks to Federica Romanelli.
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