CertAsig Cyber Insurance & GDPR Aspects – Martha Rusoiu, Business Mark

Emma Hopkins, ambassador of Great Britain in Sofia, opened the event CertAsig Cyber Insurance & GDPR Aspects

CertAsig’s Bulgarian team hosted an event at the British Residence in Sofia to debate the most popular topic of the moment: cyber security and the need that companies in the European Union adjust to GDPR (General Data Protection Regulation). We were very honoured as our event, which brought together 60 local brokers, was opened by Her Excellency Emma Hopkins – Ambassador of Great Britain in Sofia. Our responsibility towards data protection and processing was the central idea of her speech.

Speakers at the event were Yana Madina – representative of the “Zahariev & Metodiev“ law firm, Krasimir Kotsev from SoCyber – Company for cyber security and Maya Mihaylova – Head of Liability in CertAsig – Bulgaria Branch.

Discussions were opened by James Grindley – CEO CertAsig and Maria Rangelova – Deputy CEO CertAsig, who highlighted the advantages of cyber risks insurance as innovative products on the insurance market.

Experience has proven that our business partners show an increased interest for cyber security products. It is natural that in a strongly digitized world they are vital in companies’ lives, whether we talk about Romania, Bulgaria, Czech Republic, Turkey, or any other part of the world. It is precisely because we are aware of the risks of possible cyber attacks that we encourage our partners to take all security measures. One thing is certain, our team is always there for them, providing solutions for the future, James Grindley, CEO CertAsig, said.

Maria Rangelova, Deputy CEO CertAsig added: We are pleased to host an event approaching essential topics for the insurance market in Bulgaria. We are delighted to bring together experienced specialists in the field, highlighting the main challenges and prompt the steps to be followed, while promoting truly useful cyber security products. We thank our guests for being here! 

In the context of GDPR implementation, starting 25 May 2018, Yana Madina Attorney at law from Zahariev & Metodiev“ law firm, who has recently taken part of research on the current application of the privacy law in the member-states and possible effects of GDPR, turned the attention to topics such as:

  • GDPR legal framework, compliance requirements, stages and processes to be considered by each company in assessing data risks and correctly establish flow process;
  • practical cases of new regulations, possible data leakage scenarios and trends in court decisions to unify the indemnities in the European Union countries.

During the Cyber security panel, Krasimir Kotsev frоm SoCyber presented to the audience several examples of how much we are exposed to cyber attacks.

He pointed that cyber exposure has grown considerably for companies of all sizes and domiciles in recent years, reflecting the increased frequency, scale and sophistication of attacks resulting in increased business costs. He emphasized how small and medium enterprises (SMEs) could mitigate the risks.

Finally, Maya Mihaylova presented the cyber security and data protection solution that CertAsig makes available to their clients. She presented the product as complex one, developed on an optional coverage base to meet the needs of different groups of clients. It aims to support companies in complying with GDPR regulations and correctly managing data breach risks as a result of cyber attacks.

The ideas generated during the meeting CertAsig Cyber Insurance & GDPR Aspects further strengthen the values we promote within our international community: innovation, proactivity, safety, and sustainable partnerships. We hope that meetings of this kind will become a tradition, keeping us connected to global challenges. Our final message is that where there are risks, there are also solutions and CertAsig team is prepared to face the new challenges!

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