When the European Union's (EU) General Data Protection Regulation (GDPR) was first proposed in 2012, it set off a great deal of speculation (and a fair amount of fear-mongering) as to how the novel regulation would affect organizations. There were webinars and workshops to attend to gain a better understanding of and prepare for GDPR, and we in the insurance community all heard about that dark beast that would be lurking in the woods — the one that could destroy an organization that fell victim to and mishandled a data breach — "the Mega Fine."
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