The Lloyd’s Market Association (LMA), along with the International Underwriting Association of London, the London & International Insurance Brokers’ Association and the British Insurance Brokers’ Association, has published a London Insurance Market Core Uses Information Notice, which takes into account GDPR requirements.
The Notice has been designed to assist a market participant and to help data subjects understand how their personal data, in relation to core activities through the insurance life cycle, is used by participants in the insurance market. The Notice does not cover all processing activities and so the LMA does not suggest using it as a template. The other principal purpose of the Notice is for it to be possibly cross-referred to in contractual documentation when one market participant relies on another market participant to provide notice or obtain consent on their behalf in respect of the use of personal data.
The Notice is working draft and will be reviewed at least every quarter.