More than 59,000 personal data breaches have been reported across Europe since the introduction of the General Data Protection Regulation (GDPR), with the Netherlands, Germany and UK most affected, according to new analysis from DLA Piper. Despite this, only 91 GDPR fines have been imposed, but the law firm expects higher numbers in 2019. DLA Piper said the number and…
Insurers are less trusted by consumers than banks and credit card companies to protect against cyber risk, according to a new survey from Europ Assistance conducted by LEXIS. In Europe, 62% of respondents trusted insurers in the fight against cybercrime, behind credit card providers at 65% and banks at 71%. Across all European countries surveyed – Italy, France, Spain, Switzerland,…
AXA XL, the property and casualty and specialty risk division of AXA, has announced what it describes as “an important step” in its integration of AXA Corporate Solutions, AXA Matrix, AXA Art and XL Catlin, in a move that will see 711 people lose their jobs in Europe. This represents about 7.5% of the total global workforce of 9,500…
The French Government has cleared the way for UK insurers to continue paying claims on French risks should a no-deal Brexit take place, but stressed that contract renewals will be forbidden between UK carriers and French clients…
While AMRAE is working hard to help the French and European corporate risk management community ensure it is ready and able to rise to the cyber challenge, the association’s president Brigitte Bouquot told Commercial Risk Europe that members must not lose sight of the huge value they bring through identification, management and transfer of more traditional, tangible and physical risks.…
Buying fraud insurance has become a challenge for French companies, with significant deductibles often demanded from carriers. In some cases, ‘high profile’ firms that operate in sectors actively targeted by fraudsters, and with a big international presence, have been asked to retain as much as €1m of risks in fraud insurance policies, sources told Commercial Risk Europe. Some brokers have…
Law experts have urged French authorities to clarify whether fines imposed on companies for falling foul of the General Data Protection Regulation (GDPR) and other regulations can be covered by insurance…
French and other EU-based risk managers need not panic about the continuity of their coverage with UK and London market insurers, and ability to receive claims, post-Brexit, according to a panel of experts at the AMRAE conference in Deauville. But they are advised to check polices because not all UK insurers have created EU subsidiaries…
The French risk management association AMRAE has partnered with the country’s cybersecurity agency to launch a guide to help companies understand and mitigate cyber risk…
The French regulator has so far been pragmatic when it comes to enforcing the General Data Protection Regulation (GDPR), but a record €50m fine against Google in January suggests any honeymoon period is coming to an end…