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February 21, 2019

Coalition, a San Francisco-based MGA specializing in cyber insurance and risk management services for SMB’s, announced that it will broaden its coverage for General Data Protection Regulation (GDPR) violations. Unlike other cyber insurance policies, Coalition will offer “full-spectrum coverage” to help businesses comply with regulations, protect against alleged violations, and pay resulting expenses and penalties.

GDPR penalties can be costly, as fines may be assessed at 4 percent of an organization’s annual global revenue or 20 million euros…whichever is higher.

“GDPR is complex and violations can arise even when there has been no breach of protected information. Companies can be fined simply for failing to comply with the terms of their own privacy policy. Many cyber insurance policies miss this exposure,” says Joshua Motta, co-founder and CEO of Coalition. “Coalition’s policy will now not only respond with broad coverage for any resulting costs and liability, including GDPR violations, resulting from a security failure or data breach, but also protect organizations against their failure to comply with broader GDPR enforcement actions.”

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