The risks associated with data collection and processing are at an all-time high. Data protection is a high-stakes game that is difficult to track since there is no universal legal requirement to disclose information related to data breaches. Newly released research from IBM shows that the average global cost of a single data breach in 2023 is $4.45 million. Across the globe, policymakers are holding organizations accountable for protecting private data.

Click here to continue reading the full article, originally published in the FORC Journal of Insurance Law and Regulation, titled “The State of Data Privacy in the U.S.” Reprinted with permission.

Tags: data privacy, Data Privacy Laws, GT Insight, insurance, risk
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Photo of Fred E. Karlinsky Fred E. Karlinsky

Fred Karlinsky is a Shareholder and Global Co-Chair of Greenberg Traurig’s Insurance Regulatory and Transactions Practice Group. Fred has nearly 30 years of experience representing the interests of insurers, reinsurers and a wide variety of other insurance-related entities. He is a recognized authority…

Fred Karlinsky is a Shareholder and Global Co-Chair of Greenberg Traurig’s Insurance Regulatory and Transactions Practice Group. Fred has nearly 30 years of experience representing the interests of insurers, reinsurers and a wide variety of other insurance-related entities. He is a recognized authority on national insurance regulatory and compliance issues and has taken a leadership position in many insurance trade organizations. Recognized as the only Band 1 Florida insurance lawyer by Chambers & Partners and one of the most influential leaders in Florida politics by City & State Florida and INFLUENCE Magazine, Fred has in-depth knowledge of insurance compliance matters and has been a primary strategist in virtually all types of Florida insurance-related legislative initiatives. Fred has also been listed in The Best Lawyers in America, Super Lawyers, Florida Trend 500 and Florida Trend’s “Legal Elite” for his work in insurance law. In addition to his role with Greenberg Traurig, Fred has been an Adjunct Professor of Law at Florida State University College of Law since 2008, where he teaches a course on Insurance Law and Risk Management. Fred currently chairs the Florida Supreme Court Judicial Nominating Commission, which he has served on since 2014. Four of the seven current sitting Justices of the Florida Supreme Court have been appointed during Fred’s tenure on the JNC.

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Photo of Timothy F. Stanfield Timothy F. Stanfield

Timothy F. Stanfield is a Shareholder with the Florida Government Law & Policy Practice. He represents a broad array of private and public-sector clients before the Florida Legislature, Cabinet and State agencies. Tim’s practice is largely focused on regulated industries to include insurance…

Timothy F. Stanfield is a Shareholder with the Florida Government Law & Policy Practice. He represents a broad array of private and public-sector clients before the Florida Legislature, Cabinet and State agencies. Tim’s practice is largely focused on regulated industries to include insurance, land use, and alcoholic beverages, including addressing ‘tied house evil’ issues. He also represents local governments, trade associations, and clients participating in Florida’s procurement process. Tim has more than a dozen years of lobbying experience, and is known within Florida’s Capitol for his deep subject matter knowledge and strategic thinking.

Tim also provides clients with regulatory legal and consulting services. Tim has obtained a variety of permits, licenses, and approval certificates from state and local government agencies. He maintains working relationships within state departments and agencies, including the Department of Financial Services, Office of Insurance Regulation, Department of Economic Opportunity, Department of Transportation, Department of Health, Agency of Health Care Administration, Department of Business and Professional Regulation, and the Department of Management Services.

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Photo of Christian Brito Christian Brito

Christian Brito focuses his practice on national insurance regulatory and compliance matters. Christian represents a wide variety of entities in the insurance industry, including insurers, reinsurers, managing general agencies, producers, third-party administrators, and claims companies, with regulatory, transactional, corporate, and governmental affairs matters.

Christian Brito focuses his practice on national insurance regulatory and compliance matters. Christian represents a wide variety of entities in the insurance industry, including insurers, reinsurers, managing general agencies, producers, third-party administrators, and claims companies, with regulatory, transactional, corporate, and governmental affairs matters. Christian regularly advises clients on operational issues and a complete array of regulatory and compliance issues, including licensure and corporate amendment applications, business expansion initiatives, solvency and statutory accounting issues, rate and form filings, and financial and market conduct examinations. Christian is also experienced in transactional law, governmental affairs, administrative law, and corporate representation, and is a frequent author on trends and developments in the national and Florida insurance markets.

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