From the 2014 PLUS Conference session “Privacy and Data Security Issues Around the Globe,” moderator Lori Bailey (Zurich) and panelists Theodore J. Kobus, III, Esq. (BakerHostetler) and Paul Bantick (Beazley) discuss the EU Data Protection Directive and how it will impact not just companies based in Europe, but any company that “handles” EU data. And the potential fines can be immense…
“They can fine you 5% of your global turnover, so if you’re a company like Google you’re looking at a $3 billion fine in Europe if you have a significant data breach.”
For much more on this quickly evolving area of coverage don’t miss the 2015 Cyber Liability Symposium on September 17 in Chicago. If you have a topic you’d like to see (or present on) at the event please submit it now.
PLUS members can view this entire Conference session in the PLUS Multimedia Library.