GDPR’s first year: the lull before the 2019 storm?
The Institute of Directors has invited me to speak at a forthcoming Insurance Technology Forums lunchtime event at Lloyd’s of London on the 10th July where we’ll be discussing the topic GDPR’s first year: the lull before the 2019 storm.
As the forum agenda informs, it is a year since Europe’s new General Data Protection Regulations came into force to safeguard consumers’ data from being used without their knowledge. For insurers, underwriters, brokers and managing agents GDPR has already created an estimated £1.5bn worth of business cost.
And according to US privacy compliance giant, TrustArc, 80% of companies trading in the US, UK and Europe will be boosting their GDPR- related budgets for 2019 – with 10% still falling short of full compliance, despite the Information Commission’s threat of multi-million pound fines.
We’ll be discussing how does all this affect the Lloyd’s and London insurance market? And what’s in store for this coming year, Brexit or no Brexit?
As a data privacy, data protection and risk specialist I’ll be talking to keynote speakers from the Institute of Directors and presenting to an audience of insurance industry decision-makers and IT practitioners in Lloyd’s of London’s prestigious Old Library.
They will review GDPR’s first year, which focused on compliance, and – more importantly – discuss the year ahead, which the Information Commissioner has forewarned will be a ‘year of enforcement.’
Regardless of the UK’s split from the EU, data privacy and protection will remain a top priority for the insurance industry as legislation similar to GDPR already exists in many other countries or are well advanced in development. With California implementing its own version known as CCPA it’s only a matter of time before consumer pressure demands similar legislation throughout the rest of the US.
Specialist speakers at the 10 July forum will focus on:
• ensuring policies are always abreast of GDPR developments
• staff training
• data protection impact assessments, system audits and risk assessments
• budget planning for beyond 2019
• third-party contractors (e.g. Cloud and data storage providers)
• action after data breaches
ITF plans, manages and hosts policy seminars; sales forums; technology product demonstrations; networking events; and key speaker functions for senior delegates and IT practitioners from the Lloyd’s and London insurance community.
This workshop is a ‘must-attend’ for board members, senior managers and those responsible for ensuring their firms and staff have met their regulatory obligations (and liable in the event of a breach). For more information, visit www.intechforums.com