Privacy Policy

19 Feb 2019

In May 2018 the European Union’s data privacy law will become enforceable. Due to the broad reaching nature of this law, and increased consciousness and importance of data privacy around the world, we have updated our Privacy Policy. Here we will take a look at the new regulation set out by the European Union, the changes to our policy, and answer some of the most frequently asked questions around these changes.

Let’s first take a quick look at the EU’s data privacy law

The GDPR stands for General Data Protection Regulation, if you haven’t heard of it, is the EU’s latest regulation on data and privacy. The main feature of this law is that it gives people the right to view, modify, and request deletion of their personal data. In short, it gives people more control over their personal data while also requiring companies to implement less vague privacy policies and stronger data privacy arrangements.

If you think back to the emails you have received you will probably remember coming across more than a few about privacy policy changes, updates, or introductions. Almost every major company in the world is updating their policies, instead it is due primarily to the fact that on May 25th 2018 the EU’s General Data Protection Regulation (GDPR) becomes enforceable.

What if I am not from the EU, does this law apply to me?

A key element of this law is that unlike privacy policies in other countries, the GDPR applies to all citizens and residents of the EU, regardless of their location. It also applies to all companies (foreign and domestic) that collect, track, and utilize data of those from the EU.

This is incredibly far reaching because it affects many companies who don’t even have operations in the EU but do sell to, or work with residents or citizens. In the case of i-Brokers for example we are a company which has an operation in Hong Kong but has European customers who live in the city, they are now required to be compliant with GDPR regulations.

If however you are not a resident or citizen of the EU the GDPR does not apply to you. That said, our Privacy Policy is for each and every one of our clients or website users.

What is the point in updating the Privacy Policy?

As an international insurance broker, we offer a variety of plans to people from all over the world, one of the most popular being international private medical insurance (IPMI). These products are designed to cover health care anywhere in the world, which makes them popular with expats and companies alike.

 

To summarize: i-Brokers will only collect data that is contractually necessary – in order for an insurer to offer and underwrite a plan they require specific data. As a broker, we are required to collect this data if you purchase a plan from us – or for marketing purposes.

Data collected by us is never sold to third parties and we will only provide third parties the data they require.

We have taken every step possible to ensure that the data collection, processing, and storage operations we have implemented are compliant with the GDPR and any relevant local privacy policies.

 

 

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