Ms Sylvia Cronin:

Let us consider the insurance industry itself. In 2016, the introduction of the Solvency II Directive was probably the single biggest regulatory overhaul in a generation. Solvency II came into play for all insurers that operate in all members states across Europe. At that time there was quite a significant focus on data protection because of the cross-border nature of insurance and the tendency to have a parent company located in one state and a number of subsidiaries located in different states. There was a focus on data protection because information was being centralised within the European Insurance and Occupational Pensions Authority in Frankfurt. There was a need to ensure that personal data was protected and what could and could not be transferred between member states. Yes, a lot of work has already been done in the insurance sector but further work will need to be undertaken with the general data protection regulation, GDPR, coming into play.