Scholarly record
DIFFICULTIES OF GENERAL DATA PROTECTION REGULATION APPLICATION TO INSURANCE PRODUCTS DISTRIBUTION
Abstract
Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (GDPR) comes into force on 25th May 2018. This regulation exchanges the present Act No. 101/2000 Coll. on personal data protection in the Czech Republic and implements totally new rules for this issue in the EU member states. The aim of the article is to apply the selected provisions GDPR regulations to a distribution of financial concretely insurance products. Typically, more subjects take part into the distribution of insurance products an insurer and insurance intermediary. Both the insurance company and insurance intermediary will be usually act as the controller and personal data processor. Plurality of those subjects also reflects the relationships dealing with personal data protection. Legal authorization for personal data processing is above that adjusted by the legal regulations of the financial market. Relationship between the client (data subject) and insurance company or insurance intermediary is led by many legal regulations because in many cases, several of them have to be used at the same time and those cannot be in mutual collision. When fulfilling the obligation to protect personal data by GDPR, demands resulting from the regulation of financial services has to be taken into consideration. This article authors deal with application of personal data protection when insurance products are distributed in practice in the Czech Republic. They also find the answers to the selected problematic topics e.g. possible acquire and transfer of contacts to future clients, contacts processing or addressing future clients being recommended.
Publication Impact Profile
Publication details
References12
Act No. 38/2004 Coll., on Insurance Intermediaries and Independent Loss Adjusters and on amendment to the Trade Licensing Act.
Directive (EU) 2016/97 on insurance distribution.
Ducháčková, E. (2015). Pojištění a pojišťovnictví. Praha: Ekopress.
Bill of Act on Insurance and Reinsurance Distribution.
Horak, H., Vukobrat, N. B. Can we protect data in digital economy: reality or myth? In Proceedings of Social Sciences & Arts SGEM 2017. Bulgaria, pp 381-386.
Kozieł, M., Krügerová, M. Informed and Free Consent as a Tool to Process Personal Data by General Data Protection Regulation in the European Union. In Proceedings of International Conference on European Integration 2018, Czech Republic, pp 845-852.
Krügerová. M. Analysis of Insurance Distribution on the Czech Insurance Market. In Proceedings of European financial systems 2017. Czech Republic. Masaryk University, 2017. pp 432-440.
Krügerová, M. Major Trends and Developments in the Insurance Markets. In Proceedings of International Conference on European Integration, Czech Republic, 2016, pp 507-516.
Mesršmíd, J. Marketing v pojišťovnictví, Praha: Professional Publishing. 2016.
Nezmar, L. GDPR praktický průvodce implementací. Praha: Grada. 2017.
Nulíček, M. et al. GDPR. Obecné nařízení o ochraně osobních údajů. Praktický komentář. Praha: Wolter Kluwer ČR. 2017.
Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation).
View or Download full articleAccess options
SWS access login
Login as SWS Scientific CommitteeLogin as SWS Scientific PartnerLogin as SWS AuthorAuthors and approved SWS contributors will read and export their own linked papers after identity matching by SWS profile, email and SGEM GlobalID.
For librarian assistance: [email protected]
Purchase Instant Access
- Article can be downloaded after successful payment.
- Article may be used according to SWS library access terms.
- Article cannot be redistributed.
