Welcome to another episode of GDPR Now, a podcast dedicated to GDPR and all things privacy.

GDPR now is brought to you by This is DPO.

And this week we are looking at cyber breach insurance, cyber insurance, what it is, how you should buy it, how you should notify under it if you have a claim.

Your host this week is Mark Sherwood Edwards, that's me, and in this studio I have Richard Sprang

of London City Insurance Brokers RFIB Group Limited, I think it's their formal name, they're known as RFIB.

Richard, why don't you introduce yourself and tell us a bit

about what you do as a broker? Yeah, I've been in the cyber insurance area for the last 17 or 18 years.

It developed out of professional indemnity tech, technology errors and emissions, and it developed

into its own product line. So I came to RFIB about 12 years ago and we've started a practice

within the last five years really running a dedicated cyber operation. We specialise

in SME business, but that could be, depending on where you are in the world, it could be

with revenues up to $250 million in certain territories like the US but some and obviously slightly

smaller as we go around the world so we've developed a product in conjunction with a number of

insurers which would cover amongst other things privacy and the like but it also covers the business

interruption etc etc but I think privacy is what we're talking about

primarily yes that's right and let me get this understand it so the function of

the broker is to represent the client the companies looking for the insurance,

vis-a-vis the person who actually can provide insurance

and your job is a broker to make sure that they are,

well, to get the best price,

but also to make sure the insurance that they purchased

is appropriately configured, the right shape, the right issues.

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