ANZ Dashboard Digest

Privacy Law Amendments Affect Insurers

PRIVACY LAW—HONG KONG

November 14, 2013

South China Morning Post reports on the impact of amendments to Hong Kong’s privacy law on insurance companies. The changes “may have made it harder for insurers to sell products by cold calling potential customers, and has cut down sales in the second quarter,” the report states. “But it has not entirely shut the door on such a sales channel.” As amended, the Personal Data (Privacy) Ordinance “forces companies to determine in advance whether their customers object to the use of their personal data for direct marketing purposes,” and, one insurer comments, "Previously, many insurers linked up with banks and used the banks' data to cold call their customers. This practice is now banned under the amended privacy law."
Full Story