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The General Data Protection Regulation and insurance

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The General Data Protection Regulation (GDPR) will be implemented in the UK, and the rest of the European
Union, on 25 May 2018. The GDPR, or something very similar to it, is highly likely to be in force after the UK
leaves the EU.

Download our quick guide to hear how the GDPR will affect the insurance sector and what you should be doing now to prepare for May 2018.


Visit our hub to access information and resources tailored to brokers: www.brownejacobson.com/brokers

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The General Data Protection Regulation and insurance

  1. 1. The General Data Protection Regulation and insurance The General Data Protection Regulation (GDPR) will be implemented in the UK, and the rest of the European Union, on 25 May 2018. The GDPR, or something very similar to it, is highly likely to be in force after the UK leaves the EU. The GDPR revolutionises data protection and has a potentially huge impact on insurers. Organisations breaching the GDPR will face penalties of up to €20 million or 4% of global turnover, whichever is highest. As time is ticking by, businesses now need to understand how the new law will affect them and put in place measures to comply. Browne Jacobson has bought together its data protection experts with its insurance team. Together, they understand how the GDPR will impact the insurance sector and how to comply in a cost-effective way. Birmingham | Exeter | London | Manchester | Nottingham 0370 270 6000 www.brownejacobson.com Browne Jacobson client They have excellent visibility in the market, with useful contacts and vast experience of working within our sector. They have also responded quickly to every request we have made. “ ” Key issues under the GDPR affecting the insurance sector: • accountability for the collection use and retention of data of employees, customers, policy holders and third parties • collection of health, genetics, crime data and demographic information • managing more onerous obligations, higher penalties and enhanced individual rights • data analytics and Big Data • use of telematics • profiling favourable customer identification • connected devices • fraud detection reporting and credit reporting multi-channel marketing • use of legacy databases • innovation, Internet of Things, Artificial Intelligence personalisation and customer experience • information security and cyber resilience • data sharing and off-shoring • data profitability • managing and reporting data breaches • data protection officers • cyber insurance policies. Steps to prepare for May 2018: • raise awareness of the impacts of GDPR • secure an appropriate budget • map key data flows • undertake a compliance assessment and gap analysis • determine the lead supervisory authority • review and draft relevant notices, policies and procedures • review data breach reporting processes • undertake a review of key third party arrangements and agreements • employ or engage a data protection officer • educate and train.
  2. 2. Mark Gleeson Partner (Barrister) +44 (0)20 7871 8534 mark.gleeson@brownejacobson.com Helena Wootton Partner +44 (0)115 976 6108 helena.wootton@brownejacobson.com Tim Johnson Partner +44 (0)115 976 6557 tim.johnson@brownejacobson.com Michael Howard Partner +44 (0)20 7337 1506 michael.howard@brownejacobson.com Jonathan Newbold Partner +44 (0)115 976 6581 jonathan.newbold@brownejacobson.com How Browne Jacobson can help your business to comply We have a highly experienced team of data protection and cyber security lawyers who are able to provide pragmatic legal advice on compliance with GDPR. Our team has worked with many organisations in the sector. Our core insurance data privacy team... © Browne Jacobson LLP - April 2017

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