The data processing requirements that are fundamental to sound insurance practices must be taken into account in the proposed new EU Regulation on data protection.
Following the draft report on the proposals published by the European Parliament's civil liberties and home affairs committee, Insurance Europe has again warned that the European Commission's proposed Regulation, as it currently stands, could have unintended negative consequences for insurers and therefore for consumers.
Insurance Europe supports greater harmonisation of EU data protection legislation. It has, however, pointed out that the Regulation should recognise that insurers need to process personal data in order to calculate fair premiums, respect contract law and verify information to prevent fraud and other financial crime.
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EP draft report
Position Paper
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