Legal update: Cyber risks

While a number of recent high-profile data breaches and the impending fines and notification requirements of the European General Data Protection Regulation have highlighted the benefits of purchasing cyber insurance, informational risk is only one aspect of cyber risk that cyber insurance policies seek to indemnify. The cyber era also brings significant operational risk to businesses, given how reliant most are on electronic systems.

This one page article highlights why a growing number of cyber incidents mean insurers must prepare strategies to deal with a range of new business interruption liabilities.