GDPR: Does Coverage Exist for Fines and Penalties for Noncompliance?

Some insurance commentators like to describe the cyber market as being “in its infancy.” The brief history of cyber insurance, however, includes an early recognition of a demand for coverage of fines and penalties relating to breach notification and privacy compliance statutes. These provisions have been an important feature for U.S. policyholders while their insurers have gained considerable insight into identifying and managing the risks.