- Fitch updates Global Reinsurance 2018 Outlook to incorporate recent significant catastrophe losses
- AIR Worldwide releases “2017 Global Modeled Catastrophe Losses” report
- Standard & Poor's looks at main concerns for European insurers
- Swiss Re new sigma report says many life insurers are focused on enhancing the value of existing business
- EIOPA publishes an Opinion on monetary incentives and remuneration between providers of asset management services and insurers
- Equifax Touchstone reports total UK sales of protection products increased by 1.4% in Q3 2017 to £149.1m-a new five year high
- Allianz now a telematics service provider for Marmalade young driver offering expired
- Clyde & Co launches in-house data analytics lab that builds on relationship with University College London(UCL) expired
- First ILSBlockchain completed expired
- Lloyd's selects REG to assist in recording data and to help reduce the administrative burden on UK coverholders expired
- NIIT announces release of version 4.0 of its exposure management tool Exact expired
- Tropics Breeze workers' comp solution new features announced expired
9th August 2017
Concern that GDPR will continue to restrict the insurance chain from being able to process sensitive personal data without obtaining explicit consent
The General Data Protection Regulation Consultation(GDPR) closed on Monday but failed to deliver the hoped-for concessions to the insurance industry.
Isabel Ost, senior associate at Clyde & Co. comments "The Government's statement of intent does not address the industry-wide concern that the regulation in its current format will continue to restrict the insurance chain from being able to process sensitive personal data without obtaining explicit consent, which would severely impact insurers current business models. Although it appears the government will retain the current status quo by legislating to extend the right to process personal data on criminal convictions and offences so as to enable organisations without official authority to process criminal convictions and offences data, the government's position on the processing of health data by the insurance market is not addressed."
"It remains to be seen what this legislation looks like in practice so the insurance industry must continue to bang the drum about this important issue."
Clyde & Co Trends(12 articles)