Complying with the European Union’s new General Data Protection Regulation is leading insurers and reinsurers to dilute the types of data they gather—something that could diminish underwriting quality, A.M. Best said in its latest regulatory assessment. The GDPR kicks in …
Regulators are beginning to teach robots who’s the boss. After spending billions of dollars on cutting-edge artificial intelligence technologies, Europe’s banks and insurers face tougher scrutiny of the tools they use to help root out fraud, check borrowers’ creditworthiness and …
Data privacy rules coming into force this week are giving Europe’s fledgling cyber insurance market a boost as they make companies more aware of the risks caused by customer information breaches. Europe’s General Data Protection Regulation (GDPR), which takes effect …
The civil fines for non-compliance with the European’s new data privacy law can be steep but organizations across Europe should not expect to have their insurance cover them. Unless the business or organization is in Norway or Finland. A “price …
