1. Home
  2. Knowledge Hub
  3. The impact of global privacy laws on cyber risk mitigation

The impact of global privacy laws on cyber risk mitigation

August 1, 2014

As the potential costs of security breaches grow and risk management experts begin convincing senior company management worldwide that all organizations are vulnerable and will suffer some kind of breach eventually, enterprises across the globe likely will consider cyber risk insurance as a risk-financing option. For multinational companies, however, covering operations in another country under a non-admitted global master program rather than a locally admitted insurance policy could lead to a multitude of complications in the event of a loss.

Senior Vice President, Head of Specialty Products E&O

Erica Davis is Senior Vice President and Head of Specialty Products Errors & Omissions at Zurich.... About this expert

Cyber Security Risk Nexus API A2

Given the likelihood and cost of a data security breach, organizations around the world — as U.S. companies already are beginning to — might turn to cyber insurance to finance this risk. But a multinational company can expect coverage problems and other difficulties if it eschews locally admitted coverage and instead relies on a worldwide policy to cover its global cyber risks, since many countries bar non-admitted insurance.

Download the report now

Comments with LinkedIn

You are logged in as (Logout)

Input is not correct!

0/180