Years of low interest rates and burgeoning catastrophe losses have accelerated the hardening of the reinsurance market, as the January 2021 renewals clearly demonstrated, and moreover, the COVID-19 pandemic has worsened the “lower for longer” interest rate environment. Considering suboptimal …
Amazon.com Inc. appealed a record 746 million-euro ($865 million) penalty for allegedly violating the European Union’s tough data-protection rules. The appeal was filed at the Luxembourg Administrative Tribunal on Friday [Oct. 15], according to Luxembourg court spokesman Henri Eippers. The …
Ireland hit Facebook’s WhatsApp with a record 225 million euro ($266 million) fine on Thursday following an inquiry into the messaging app’s transparency around sharing personal data with other Facebook companies. WhatsApp said the fine was “entirely disproportionate” and that …
Amazon.com Inc has been hit with a record $886.6 million (746 million euros) European Union fine for processing personal data in violation of the bloc’s GDPR rules, as privacy regulators take a more aggressive position on enforcement. The Luxembourg National …
The European Union gave its formal blessing to a decision guaranteeing the free flow of data between the bloc and the UK. The European Commission, the EU’s executive arm, on Monday adopted so-called adequacy decisions that will allow companies to …
Reports of Irish patient data posted online after a cyber attack on Ireland’s health service appear to be accurate, a government minister said, as the fallout from the hack continues. A Financial Times report that some patient data has appeared …
Cyber attacks and data loss are the top two risks facing directors & officers, with pandemic-related changes in working practices heightening these concerns, according to a global survey from broker Willis Towers Watson and law firm Clyde & Co. Covering …
A range of European Union institutions including the European Commission were hit by a significant cyber attack last week. A spokesperson for the commission said that a number of EU bodies “experienced an IT security incident in their IT infrastructure.” …
France’s privacy watchdog said it’s investigating the leak of sensitive health data on half a million people and said the companies involved could face heavy penalties if they don’t come forward with details of the breaches. The leaks were of …
Sweden’s largest insurer, Folksam, accidentally leaked private data on about one million of its customers to a handful of the world’s largest technology companies, it said on Tuesday. Folksam, which insures 50% of Swedish homes and individuals, shared the data …
