20 August 2020
LONDON - PORT.im, the revolutionary new privacy platform for growing businesses, has today launched its new Data Protection Insurance product designed to help UK businesses make themselves safer from the risks of managing personal data.
Businesses use personal information for many different reasons. Whether it's marketing, HR, supplier records or health records, almost every business requires personal data to operate. Historically, the more personal data an organisation had, the greater its ability to market itself. But all that has changed.
Since the introduction of the GDPR, personal data has become a liability for businesses, as well as an asset. The damage done to businesses by misdemeanours or breaches can be much more than just massive fines. The reputation of a business can be tarnished or destroyed by a single serious data breach.
PORT.im has recognised the fact that small and medium-sized businesses need an insurance policy specially tailored to suit them and the challenges they face in managing personal information. PORT.im worked with Beazley to make Data Protection Insurance available through the PORT.im platform.
Data Protection Insurance is like cyber insurance but it's been specially designed to address the risks that small and medium-sized businesses face when managing personal data. The cover starts at £100,000 with an excess of £1,000.
Commenting on the launch of the new product, Julian Saunders, CEO, said: We are delighted to announce the launch of our new Data Protection Insurance cover. Whether it's compliance with the privacy regulations or building trust with privacy centers, our goal is to make managing personal data simple, beneficial, and safe for companies and consumers alike.
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