The Impact of “California’s GDPR” from Cyber Insurance Industry Perspective

In 2018, the EU’s General Data Protection Regulation (GDPR) loomed over the insurance industry, triggering a rush of compliance efforts from firms either headquartered in Europe or servicing European customers before the GDPR’s effective date on May 25 of that year.

Now, the California Consumer Privacy Act (CCPA) is having much the same effect on insurers and brokers operating in California or with California-based clients, especially now that CCPA’s effective date of January 1, 2020, is less than six months away. With that in mind, a new report from Insurance Journal consulted over a dozen industry experts, including one of Marsh’s cyber practice leaders and Chubb’s cyber lead.