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Data Protection for UK insurance post-Brexit

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Little changed overnight for data controllers when the UK left the EU and the transition period ended on 31 December 2020.

Although the Trade and Cooperation Agreement provided a grace period of up to six months during which time personal data can continue to flow freely from the EEA to the UK, the European Commission has since published a draft decision which states that the EU considers the UK’s data protection regime as adequate.

This isn’t the only consideration for firms when it comes to data protection. Brexit has impacted other aspects of GDPR, and it is more important than ever for financial services firms to understand any new exposures the changes will bring and update their approach to GDPR compliance accordingly.

 

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