{"id":1565,"date":"2018-05-21T11:26:53","date_gmt":"2018-05-21T03:26:53","guid":{"rendered":"https:\/\/www.pacificprime.hk\/blog\/?p=1565"},"modified":"2018-05-21T11:27:57","modified_gmt":"2018-05-21T03:27:57","slug":"updated-privacy-policy","status":"publish","type":"post","link":"https:\/\/www.pacificprime.hk\/blog\/updated-privacy-policy\/","title":{"rendered":"We have updated our privacy policy"},"content":{"rendered":"

On May 25, the European Union’s new data privacy law will come into force. Because this law is so wide-reaching, we feel it is important to ensure that we are doing everything we can as a company to meet the new privacy regulations and protect the data of our clients or anyone interacting with us. To that end, we have updated our <\/span>Privacy Policy<\/span><\/a> and in this article will go over not only the new regulation but also provide a short FAQ around it and its impact on people in Hong Kong. <\/span><\/p>\n

About the European Union’s new data privacy law<\/span><\/h2>\n

There is a good chance that over the past few months you have had a number of emails from companies about how they have updated their privacy policies. Pretty much every major company around the world has actually done so in the past few months and the main reason as to why is that the EU’s General Data Protection Regulation (GDPR) becomes enforceable on 25 May 2018.<\/span><\/p>\n

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\"General<\/a><\/p><\/div>\n\n

The GDPR is a regulation passed by the EU that has been put in place to protect the data, information, and privacy of citizens of the EU’s member countries. The primary aim of this regulation is to give people the right to, and control of, their personal data. It also pushes for clearer and easier to understand data privacy policies. <\/span><\/p>\n

The most important aspect of this law however is that it does not just apply to EU citizens living and residing in the EU. Instead, it applies to all foreign companies who process the data of EU residents (both foreign and citizen). <\/span><\/p>\n

In other words, companies who have operations, say, only in Hong Kong, Singapore, or countries outside of the EU but who sell to Europeans and collect data on these customers are now required to meet the regulations set out by the GDPR. <\/span><\/p>\n

Why update now?<\/span><\/h2>\n

Here at Pacific Prime Hong Kong, one of the insurance products we sell is International Private Medical Insurance (IPMI). These products are designed to cover people on a world-wide basis and are incredibly popular with expats. <\/span><\/p>\n

As Hong Kong has a sizeable expat population, many of whom are from the EU, we are required to be compliant with the GDPR. One of the ways to show this is by providing an updated Privacy Policy that not only explains our compliance, but explains in greater detail how we collect, use, and define the data of our clients. <\/span><\/p>\n

Our new Privacy Policy has been published (available <\/span>here<\/span><\/a>), and takes effect immediately for new clients, and as of May 18, 2018 for existing clients. \u00a0<\/span><\/p>\n

What does Pacific Prime’s new Privacy Policy cover?<\/span><\/h2>\n

Our new Privacy Policy has been written to cover not only the requirements set out by the GDPR but also the requirements of Hong Kong\u2019s Personal Data (Privacy) Ordinance. To make this policy as easy to read as possible, we have broken it up into sections. <\/span><\/p>\n

These sections include: <\/span><\/p>\n