The term ‘Data Retention’ refers to the storing of information within a business or organisation. This could include detailed records such as customer information, telephone conversations, proof documents, emails, location and contact details or transactional information.

Under GDPR legislation, businesses and organisations must follow accurate protocol when storing and accessing data. GDPR protects customers against unlawful collection of data by businesses which is not relevant to direct company operations.

Writing a data retention policy

  • A data retention policy helps businesses and organisations to define how long they should store and safely dispose of information by method of a set of guidelines.
  • The policy should outline the types of information you intend to store, how long the business intends to store data and when it will dispose.
  • Whilst it costs very little to store data, keeping information longer than intended, opens the organisation up to cyber security threats.
  • By regularly cleansing and cleaning data reduces a data breach.
  • If company intends to use the data in the future, they should outline their intensions by means of a data flow map

You can find out more about developing a data retention policy for your business by visiting guidance on the website – Principle: Storage Limitation. Where you’ll find further information on:

  • Storage Limitation
  • Retention Policy
  • Setting a retention period
  • Reviewing retention
  • How long to store / archive data
  • Data sharing

Looking to protect your data handling services and customer databases with data protection insurance? Crendon Insurance carry out confidential reviews of companies and the manner in which they store data to ascertain how well their data protection strategy and data retention policy is performing by means of GDPR data protection insurance. To find out more about creating a data retention policy for your business, please contact our GDPR data protection insurance team or see our website for more details.

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