On 21st June, 2023, Mr. Xun Yang was invited to participate in Lloyd's (China) 8th Legal Compliance Round Table and delivered a speech on "Pathways to and Practices of Outbound Data Transfer". Dozens of legal and compliance professionals from more than 10 insurance and reinsurance companies engaged in the discussions.
Mr. Xun Yang shared experience in handling outbound data transfers for colleagues from the insurance industry based on "Security Assessment Measures for Outbound Data Transfers" and "Measures on the Standard Contract for Outbound Transfer of Personal Information" recently released. The discussion covers, among others, the identification of data handler during the process of insuring, reinsuring, KYC and other services, the distinction between commissioning the handling of data or providing data to third parties, the selection of security evaluation or SCC filing.
Mr. Xun Yang shared his experience of outbound data transfers of insurance industry, including the outbound data transfers under the Terminal IT framework and overseas cloud deployment, the necessity of data export in the case of global deployment and the way to view the re-transfer of data.
This speech has been highly appreciated by participants. Given that China's laws concerning data export becomes stricter, insurance, insurance brokers and other financial industries are facing challenges of complying with data export laws. Data export in a legitimate way demonstrates companies' respect to China law requirements.
