Global insurers call for clarifications on South Korean data protection rules

8 February 2022

GFIA has written to the South Korean authorities to ask for clarifications related to changes to data protection rules for insurers and reinsurers operating in the jurisdiction.


These changes relate to the standard consent form that Korean insurance policyholders complete when an insurance contract is underwritten and concluded that allows the insurance company to use and share their personal information for the purposes of performing the insurance contract.


GFIA also asked for clarification on planned changes to the ability of local reinsurers operating in Korea to transfer data offshore, that will now be effective for in-force policies as well as new policies entered into after the change in the rules.


The letters can be found here and here.

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