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As we near two years with GDPR in place — when it comes to the cost of not protecting data — the jury is still out regarding data breach investigation depth or fine size. (Fotolia) As we near two years with GDPR in place — when it comes to the cost of not protecting data — the jury is still out regarding data breach investigation depth or fine size. (Fotolia)

When the European Union’s (EU) General Data Protection Regulation (GDPR) was first proposed in 2012, it set off a great deal of speculation (and a fair amount of fear-mongering) as to how the novel regulation would affect organizations. There were webinars and workshops to attend to gain a better understanding of and prepare for GDPR, and we in the insurance community all heard about that dark beast that would be lurking in the woods — the one that could destroy an organization that fell victim to and mishandled a data breach — “the Mega Fine.”

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