Insurance terminology explained in simple terms
Data Protection Insurance / GDPR Insurance
Data protection or GDPR insurance offers insurance coverage for damages in connection with data protection violations. This can include damages and fines as well as the costs associated with data protection warnings.
Data protection has been an important topic for everyone, especially those who processes personal data, since the GDPR came into force. With Professional Indemnity Insurance from exali.com, freelancers, the self-employed and companies can protect themselves in the event of data protection violations:
Data Breaches Due to Cyber Crime
If you are the victim of a hacker attack and the cyber criminals, for example, steal customer data, the customer can demand compensation from you. Professional indemnity insurance from exali.com provides coverage for this.
You can take out optional First-Party Cyber and Data Risks Insurance (FPC) for coverage in the event that, for example, you suffer damage to your own property through cyber crime or to your image due to a data breach. The insurer will also cover the costs of data recovery or PR advice, for example, in such cases.
Insurance Against GDPR Violations
If, for example, a customer has to pay a GDPR fine due to your mistake, she may claim compensation from you for this (recourse). Professional indemnity insurance assumes this compensation and also bears the costs that the customer incurred in defending against the fine.
Warnings due to a GDPR violation, for example from associations, lawyers or competitors, are insured through exali Professional Indemnity Insurance. The insurer checks warnings at its own expense, fends off unjustified claims and pays justified claims.
Insurance Against GDPR Fines
Fines imposed on you by a data protection authority for a GDPR violation are also insured, as long as this is possible under applicable law.
Term: Data Protection Insurance / GDPR Insurance
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