A number of data privacy legislation and industry developments will drive insurance coverage trends, including:
1. an increase in insurance exposures linked to sexual discrimination and harassment claims, and class actions including D&O liability insurance (click here to read more);
2. coverage and service that reflect more claims related to collection and use of personal data in the US, arising from GDPR and the "California Privacy Act Regulations", coupled with the fallout from the Facebook/Cambridge Analytica controversy (click here to read more);
3. more regulatory and stakeholder scrutiny of disclosure of climate change risk and the increasing D&O and E&O liability exposure, with traditional products and exclusions stretched and tested by this growing exposure (click here to read more);
4. opportunities in the Middle East, arising from roll-out of mandatory health insurance (click here to read more);
5. unlocking the potential of new business line arising from rise of cryptocurrencies, as insurers will be looking at supporting emerging risks. Greater understanding of prospective insured's businesses will be key (click here to read more);
6. fraudulent wire transfers will drive businesses to understand their coverage and risks, as well as changing and implementing best practices processes for wire transfer (click here to read more);
7. the demand for cyber insurance in Brazil, due to new data privacy legislation, as companies operating in Brazil are expected to make substantial changes to their business to achieve compliance (click here to read more);
8. increased vetting of ICO policyholders by D&O insurers in order to take appropriate precautions and properly price these risks, as ICOs present a significant risk of private class action suits by investors; potentially in multiple jurisdictions (click here to read more).
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
