Does complying with regulations like GDPR or HIPAA improve a business’s chances of obtaining better cyber insurance coverage?
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Does complying with regulations like GDPR or HIPAA improve a business’s chances of obtaining better cyber insurance coverage?
Complying with regulations like GDPR or HIPAA can generally improve a business’s chances of obtaining better cyber insurance coverage. Insurance companies often consider an organization’s adherence to relevant regulations and industry best practices when determining coverage and premiums. By demonstrating compliance with regulations such as GDPR or HIPAA, a business shows a commitment to data protection and risk management, which can be favorable factors for insurers in assessing the organization’s risk profile.