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EU Adviser - Data Protection Regulation

Following a vote on 21 October by the European Union's Committee on Civil Liberties, Justice and Home Affairs (LIBE), far-reaching changes to data protection regulation, which will replace 1995's Data Protection Directive (95/46/EC), are a step closer to being introduced next year.

Designed to respond to the evolving technological environment in which EU citizens live and work, the measures detailed in the proposed regulation include:

  • Fines of up to 100 million or 5% of global turnover, whichever is the greater.
  • Stringent authorisation regarding the transfer of data to non-EU countries.
  • The "right to be forgotten".
  • The appointment of a data protection officer in organisations that process more than 5,000 records in a 12-month period.
Marsh has prepared an Adviser document to explain the impact of the changes and what businesses should consider.

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Is your property underinsured?

The cost of rebuilding your premises or replacing equipment after a major incident may be more than you think. In fact, Marsh's Valuation Services Practice finds that about 20% of companies that perform regular valuations, or have an indexation scheme in place, are at least significantly underinsured, and about 10% are severely underinsured. These percentages grow to about 60% and 30% for firms that don't regularly review the insurable value of their assets. It is rare that Marsh's team finds that companies are significantly overinsured.

Underinsurance is a critical issue: post-loss it may even mean the difference between survival and failure. If you insure for the wrong amount you may not receive the full value of your loss if you have a claim.

Marsh has prepared this Adviser document to explain the impact of underinsurance, common calculation errors and the importance of professional valuations. For further information and assistance please contact your usual Marsh representative.

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