Given that insurance products and policies rely on personal data for underwriting and claims purposes, the insurance industry worldwide must be mindful of the EU's General Data Protection Regulation (GDPR) requirements. (Photo: iStock)
Many people affiliated with a multi-national insurance company or reinsurer consider the fast-approaching deadline for compliance with the General Data Protection Regulation (GDPR) to be old news.
But that's not true of the entire insurance industry. It is less likely that an independent broker — one who has just placed a policy of insurance for a resident of the European Union who purchased property in the United States — realizes the urgency of becoming acquainted with the GDPR.
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