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Insurers could be fined millions of euros under new data rules: PwC

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Insurers could be fined millions of euros under new data rules: PwC

A survey by U.K.-based consultancy firm PricewaterhouseCoopers International Ltd. found that insurance chief executives in Ireland are concerned about their organizations’ preparedness for complying with new data rules, Independent.ie reported. Under the General Data Protection Regulation regime, slated to take effect in May, regulators can fine firms up to 4% of their global annual turnover, or €20 million ($24.4 million), whichever is higher.

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